Bank of New York Mellon Corp Acquires 114,267 Shares of FuelCell Energy, Inc. (NASDAQ:FCEL)

Bank of New York Mellon Corp lifted its holdings in shares of FuelCell Energy, Inc. (NASDAQ:FCEL) by 7.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,677,126 shares of the energy company’s stock after acquiring an additional 114,267 shares during the period. Bank of New York Mellon Corp owned approximately 0.34% of FuelCell Energy worth $1,071,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FCEL. Fermata Advisors LLC raised its stake in shares of FuelCell Energy by 54.5% in the second quarter. Fermata Advisors LLC now owns 82,500 shares of the energy company’s stock worth $53,000 after purchasing an additional 29,113 shares during the last quarter. Virtu Financial LLC purchased a new stake in FuelCell Energy in the 1st quarter valued at $285,000. Tidal Investments LLC lifted its stake in FuelCell Energy by 36.4% during the 1st quarter. Tidal Investments LLC now owns 627,893 shares of the energy company’s stock valued at $747,000 after acquiring an additional 167,657 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in FuelCell Energy by 42.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 479,379 shares of the energy company’s stock worth $571,000 after acquiring an additional 141,747 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of FuelCell Energy by 21.7% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 986,119 shares of the energy company’s stock worth $1,173,000 after acquiring an additional 175,657 shares in the last quarter. Institutional investors and hedge funds own 42.78% of the company’s stock.

FuelCell Energy Stock Performance

NASDAQ FCEL opened at $0.43 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.97 and a current ratio of 6.91. The company has a market capitalization of $214.62 million, a PE ratio of -1.78 and a beta of 3.87. FuelCell Energy, Inc. has a 52-week low of $0.37 and a 52-week high of $1.84. The company has a 50-day simple moving average of $0.48 and a 200 day simple moving average of $0.77.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings results on Thursday, September 5th. The energy company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). FuelCell Energy had a negative net margin of 135.76% and a negative return on equity of 17.02%. The company had revenue of $23.70 million for the quarter, compared to analysts’ expectations of $23.22 million. During the same quarter in the previous year, the firm posted ($0.06) EPS. On average, research analysts predict that FuelCell Energy, Inc. will post -0.25 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Canaccord Genuity Group cut their price target on shares of FuelCell Energy from $1.50 to $1.25 and set a “hold” rating on the stock in a report on Friday, September 6th. UBS Group cut their target price on FuelCell Energy from $1.35 to $0.50 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Finally, B. Riley raised FuelCell Energy to a “hold” rating in a research report on Tuesday, June 25th.

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.