Legal & General Group Plc Decreases Stake in FuelCell Energy, Inc. (NASDAQ:FCEL)

Legal & General Group Plc lowered its stake in FuelCell Energy, Inc. (NASDAQ:FCEL) by 94.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,110,789 shares of the energy company’s stock after selling 19,981,072 shares during the quarter. Legal & General Group Plc owned 0.05% of FuelCell Energy worth $10,042,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. ExodusPoint Capital Management LP bought a new stake in FuelCell Energy during the 4th quarter valued at $112,000. Aristides Capital LLC purchased a new position in shares of FuelCell Energy in the fourth quarter valued at about $170,000. JPMorgan Chase & Co. boosted its holdings 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 period. Federated Hermes Inc. bought a new stake in shares of FuelCell Energy in the fourth quarter worth about $1,357,000. Finally, Geode Capital Management LLC grew its stake in shares of FuelCell Energy by 13.9% in the third quarter. Geode Capital Management LLC now owns 12,014,243 shares of the energy company’s stock worth $4,567,000 after purchasing an additional 1,466,442 shares during the last quarter. Institutional investors own 42.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FCEL shares. B. Riley dropped their price objective on FuelCell Energy from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, March 12th. Canaccord Genuity Group reiterated a “hold” rating and issued a $12.00 price target on shares of FuelCell Energy in a report on Friday, December 20th. 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 report on Friday, December 20th. Finally, Jefferies Financial Group reduced their price target on shares of FuelCell Energy from $15.00 to $8.40 and set a “hold” rating on the stock in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.03.

FuelCell Energy Stock Down 0.3 %

Shares of FuelCell Energy stock opened at $3.89 on Friday. FuelCell Energy, Inc. has a 1 year low of $3.72 and a 1 year high of $30.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.01 and a quick ratio of 4.48. The company has a 50-day moving average of $5.61 and a 200 day moving average of $8.30. The firm has a market cap of $82.25 million, a price-to-earnings ratio of -0.49 and a beta of 3.95.

FuelCell Energy (NASDAQ:FCEL) last announced its 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. The business had revenue of $19.00 million during the quarter, compared to the consensus estimate of $35.37 million. FuelCell Energy had a negative net margin of 113.09% and a negative return on equity of 18.58%. During the same quarter last year, the firm earned ($1.25) earnings per share. As a group, sell-side analysts anticipate that FuelCell Energy, Inc. will post -6.11 earnings per share for the current fiscal year.

About FuelCell Energy

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.