Federated Hermes Inc. Makes New $1.36 Million Investment in FuelCell Energy, Inc. (NASDAQ:FCEL)

Federated Hermes Inc. bought a new stake in FuelCell Energy, Inc. (NASDAQ:FCEL) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 150,165 shares of the energy company’s stock, valued at approximately $1,357,000.

Other hedge funds have also made changes to their positions in the company. ExodusPoint Capital Management LP acquired a new position in FuelCell Energy in the 4th quarter valued at about $112,000. Aristides Capital LLC acquired a new position in shares of FuelCell Energy in the fourth quarter valued at approximately $170,000. JPMorgan Chase & Co. raised its stake in shares of FuelCell Energy by 35.8% during the third quarter. JPMorgan Chase & Co. now owns 545,894 shares of the energy company’s stock worth $207,000 after purchasing an additional 143,786 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of FuelCell Energy by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,977,835 shares of the energy company’s stock worth $1,512,000 after purchasing an additional 216,539 shares during the period. Finally, Geode Capital Management LLC grew its position in FuelCell Energy by 13.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,014,243 shares of the energy company’s stock valued at $4,567,000 after buying an additional 1,466,442 shares during the last quarter. Institutional investors and hedge funds own 42.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on FCEL. TD Cowen upped their price objective on shares of FuelCell Energy from $2.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. B. Riley reduced their price objective on shares of FuelCell Energy from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Canaccord Genuity Group reiterated a “hold” rating and set a $12.00 target price on shares of FuelCell Energy in a research report on Friday, December 20th. Finally, Jefferies Financial Group reduced their price target on FuelCell Energy from $15.00 to $8.40 and set a “hold” rating for the company in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.03.

FuelCell Energy Stock Performance

FCEL opened at $3.98 on Tuesday. The stock’s 50 day simple moving average is $5.82 and its 200 day simple moving average is $8.41. The stock has a market cap of $84.15 million, a P/E ratio of -0.50 and a beta of 3.95. FuelCell Energy, Inc. has a 1-year low of $3.72 and a 1-year high of $33.60. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.01 and a quick ratio of 4.48.

FuelCell Energy (NASDAQ:FCEL) last announced its quarterly earnings results on Tuesday, March 11th. The energy company reported ($1.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.52) by $0.10. FuelCell Energy had a negative return on equity of 18.58% and a negative net margin of 113.09%. The business had revenue of $19.00 million during the quarter, compared to analysts’ expectations of $35.37 million. During the same quarter last year, the business posted ($1.25) earnings per share. As a group, equities analysts anticipate that FuelCell Energy, Inc. will post -6.11 EPS for the current fiscal year.

FuelCell Energy Profile

FuelCell Energy, Inc, together with its subsidiaries, manufactures and sells stationary fuel cell and electrolysis platforms that decarbonize power and produce hydrogen. The company provides various configurations and applications of its platform, including on-site power, utility grid support, and microgrid, as well as distributed hydrogen; solid oxide-based electrolysis; solutions for long duration hydrogen-based energy storage and electrolysis technology; and carbon capture, separation, and utilization systems.