Invesco Ltd. Decreases Holdings in FuelCell Energy, Inc. (NASDAQ:FCEL)

Invesco Ltd. lessened its stake in shares of FuelCell Energy, Inc. (NASDAQ:FCEL - Free Report) by 87.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 447,340 shares of the energy company's stock after selling 3,222,180 shares during the quarter. Invesco Ltd. owned 2.19% of FuelCell Energy worth $4,044,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of FCEL. Geode Capital Management LLC increased its position in shares of FuelCell Energy by 13.9% during the third quarter. Geode Capital Management LLC now owns 12,014,243 shares of the energy company's stock worth $4,567,000 after acquiring an additional 1,466,442 shares during the last quarter. JPMorgan Chase & Co. grew its stake in FuelCell Energy by 35.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 545,894 shares of the energy company's stock valued at $207,000 after purchasing an additional 143,786 shares in the last quarter. Federated Hermes Inc. purchased a new stake in FuelCell Energy during the 4th quarter worth approximately $1,357,000. Aristides Capital LLC acquired a new position in shares of FuelCell Energy in the 4th quarter valued at approximately $170,000. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of FuelCell Energy during the fourth quarter worth approximately $112,000. Hedge funds and other institutional investors own 42.78% of the company's stock.

FuelCell Energy Stock Performance

FCEL stock opened at $3.82 on Monday. The firm has a market cap of $80.77 million, a P/E ratio of -0.48 and a beta of 3.95. The stock's 50 day simple moving average is $5.15 and its 200 day simple moving average is $7.98. The company has a current ratio of 6.01, a quick ratio of 4.48 and a debt-to-equity ratio of 0.20. FuelCell Energy, Inc. has a 12-month low of $3.67 and a 12-month high of $30.90.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last issued its earnings results on Tuesday, March 11th. The energy company reported ($1.42) earnings per share for the quarter, topping analysts' consensus estimates of ($1.52) by $0.10. FuelCell Energy had a negative net margin of 113.09% and a negative return on equity of 18.58%. The company had revenue of $19.00 million for the quarter, compared to analysts' expectations of $35.37 million. During the same period in the prior year, the company earned ($1.25) earnings per share. As a group, equities research analysts predict that FuelCell Energy, Inc. will post -6.11 EPS for the current year.

Analysts Set New Price Targets

Separately, B. Riley cut their price target on shares of FuelCell Energy from $12.00 to $9.00 and set a "neutral" rating on the stock in a report on Wednesday, March 12th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $10.03.

FuelCell Energy Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.