Van ECK Associates Corp Sells 7,383 Shares of FuelCell Energy, Inc. (NASDAQ:FCEL)

Posted by on Aug 8th, 2023

Van ECK Associates Corp cut its stake in FuelCell Energy, Inc. (NASDAQ:FCEL – Free Report) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 136,222 shares of the energy company’s stock after selling 7,383 shares during the period. Van ECK Associates Corp’s holdings in FuelCell Energy were worth $388,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of FuelCell Energy by 3.8% in the first quarter. JPMorgan Chase & Co. now owns 531,319 shares of the energy company’s stock valued at $3,061,000 after acquiring an additional 19,633 shares in the last quarter. Raymond James & Associates boosted its stake in shares of FuelCell Energy by 203.1% during the first quarter. Raymond James & Associates now owns 128,858 shares of the energy company’s stock valued at $742,000 after purchasing an additional 86,344 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in FuelCell Energy by 3.4% during the first quarter. Bank of New York Mellon Corp now owns 1,358,843 shares of the energy company’s stock valued at $7,827,000 after buying an additional 44,401 shares during the period. Private Advisor Group LLC raised its stake in FuelCell Energy by 134.3% in the first quarter. Private Advisor Group LLC now owns 34,600 shares of the energy company’s stock worth $200,000 after buying an additional 19,832 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in FuelCell Energy by 50.4% during the first quarter. MetLife Investment Management LLC now owns 191,038 shares of the energy company’s stock worth $1,100,000 after buying an additional 63,986 shares during the period. Hedge funds and other institutional investors own 46.99% of the company’s stock.

FuelCell Energy Trading Down 4.0 %

Shares of FuelCell Energy stock opened at $1.91 on Tuesday. FuelCell Energy, Inc. has a fifty-two week low of $1.77 and a fifty-two week high of $5.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.83 and a current ratio of 7.22. The company has a market cap of $776.91 million, a P/E ratio of -5.79 and a beta of 3.60. The firm has a 50-day simple moving average of $2.26 and a two-hundred day simple moving average of $2.64.

FuelCell Energy (NASDAQ:FCEL – Get Free Report) last posted its quarterly earnings data on Thursday, June 8th. The energy company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). FuelCell Energy had a negative net margin of 79.13% and a negative return on equity of 18.42%. The company had revenue of $38.40 million for the quarter, compared to analysts’ expectations of $25.49 million. During the same period in the previous year, the business earned ($0.08) earnings per share. The business’s revenue for the quarter was up 134.1% on a year-over-year basis. As a group, equities analysts predict that FuelCell Energy, Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. B. Riley reduced their target price on shares of FuelCell Energy from $4.00 to $2.50 in a report on Tuesday, June 27th. Craig Hallum cut their price objective on shares of FuelCell Energy from $3.00 to $2.50 in a research report on Friday, June 9th.

Get Our Latest Analysis on FCEL

FuelCell Energy Profile

(Free Report)

FuelCell Energy, Inc, together with its subsidiaries, manufactures and sells stationary fuel cell energy platforms that decarbonize power and produce hydrogen. It offers SureSource 1500, a 1.4-megawatt (MW) platform; SureSource 3000, a 2.8 MW platform; SureSource 4000, a 3.7 MW platform; SureSource 250, a 250- kilowatt (kW) platform; SureSource 400, a 400-kW platform; and SureSource Hydrogen, a 2.3 MW platform that is designed to produce up to 1,200 kilograms of hydrogen per day for multi-megawatt utility, microgrid, and distributed hydrogen applications, as well as on-site heat and chilling applications.

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Institutional Ownership by Quarter for FuelCell Energy (NASDAQ:FCEL)

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