Bank of New York Mellon Corp Has $395,000 Position in FuelCell Energy, Inc. (NASDAQ:FCEL)

Bank of New York Mellon Corp reduced its stake in FuelCell Energy, Inc. (NASDAQ:FCEL - Free Report) by 96.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,643 shares of the energy company's stock after selling 1,326,599 shares during the period. Bank of New York Mellon Corp owned 0.21% of FuelCell Energy worth $395,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC boosted its stake in FuelCell Energy by 7.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 74,021 shares of the energy company's stock valued at $28,000 after purchasing an additional 5,150 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of FuelCell Energy by 4.2% in the third quarter. Rockefeller Capital Management L.P. now owns 548,404 shares of the energy company's stock valued at $208,000 after acquiring an additional 22,153 shares during the period. JPMorgan Chase & Co. boosted its position in shares of FuelCell Energy by 35.8% in the third quarter. JPMorgan Chase & Co. now owns 545,894 shares of the energy company's stock valued at $207,000 after acquiring an additional 143,786 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of FuelCell Energy by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,977,835 shares of the energy company's stock valued at $1,512,000 after acquiring an additional 216,539 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in FuelCell Energy during the third quarter worth about $90,000. 42.78% of the stock is owned by institutional investors.

Remove Ads

FuelCell Energy Price Performance

FuelCell Energy stock traded up $0.03 during midday trading on Wednesday, reaching $4.62. The company's stock had a trading volume of 536,523 shares, compared to its average volume of 1,322,130. The company has a current ratio of 6.01, a quick ratio of 4.48 and a debt-to-equity ratio of 0.20. The stock has a market cap of $97.69 million, a PE ratio of -0.58 and a beta of 3.71. FuelCell Energy, Inc. has a 52 week low of $4.36 and a 52 week high of $37.20. The business has a 50-day moving average price of $6.55 and a 200-day moving average price of $9.04.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last posted its earnings results on Tuesday, March 11th. The energy company reported ($1.42) EPS for the quarter, beating the consensus estimate of ($1.52) by $0.10. The firm had revenue of $19.00 million during the quarter, compared to the consensus estimate of $35.37 million. FuelCell Energy had a negative return on equity of 18.58% and a negative net margin of 113.09%. During the same period last year, the company earned ($1.25) earnings per share. On average, sell-side analysts predict that FuelCell Energy, Inc. will post -6.11 EPS for the current year.

Analyst Upgrades and Downgrades

FCEL has been the topic of a number of analyst reports. Canaccord Genuity Group restated a "hold" rating and set a $12.00 target price on shares of FuelCell Energy in a research report on Friday, December 20th. Jefferies Financial Group lowered their price objective on FuelCell Energy from $15.00 to $8.40 and set a "hold" rating on the stock in a research note on Friday, December 20th. B. Riley cut their target price on FuelCell Energy from $12.00 to $9.00 and set a "neutral" rating for the company in a research report on Wednesday, March 12th. UBS Group decreased their price target on FuelCell Energy from $15.00 to $13.75 and set a "neutral" rating on the stock in a research report on Tuesday, December 3rd. Finally, 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. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $10.03.

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.