FuelCell Energy (NASDAQ:FCEL) Rating Increased to Hold at B. Riley
B. Riley raised FuelCell Energy to a "hold" rating. The company's stock opened at $0.64 on Tuesday. FuelCell Energy reported ($0.07) EPS for the quarter, beating analysts' estimates. Hedge funds and other institutional investors have recently modified their holdings of the company. FuelCell Energy manufactures and sells stationary fuel cell and electrolysis platforms. The company provides various configurations and applications of its platform.
FuelCell Energy (NASDAQ:FCEL - Get Free Report) was upgraded by equities research analysts at B. Riley to a "hold" rating in a report released on Tuesday, Zacks.com reports.
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FuelCell Energy Price Performance
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Shares of FuelCell Energy stock opened at $0.64 on Tuesday. The company has a market cap of $317.27 million, a PE ratio of -2.55 and a beta of 3.56. The business has a 50 day moving average of $0.84 and a 200 day moving average of $1.12. FuelCell Energy has a 52 week low of $0.62 and a 52 week high of $2.54. The company has a quick ratio of 4.80, a current ratio of 6.55 and a debt-to-equity ratio of 0.20.
FuelCell Energy (NASDAQ:FCEL - Get Free Report) last released its earnings results on Monday, June 10th. The energy company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.01. FuelCell Energy had a negative return on equity of 15.66% and a negative net margin of 123.30%. The firm had revenue of $22.42 million for the quarter, compared to analysts' expectations of $22.12 million. During the same period in the prior year, the firm posted ($0.09) earnings per share. As a group, equities research analysts forecast that FuelCell Energy will post -0.26 earnings per share for the current year.
Institutional Trading of FuelCell Energy
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Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in FuelCell Energy by 7.5% during the third quarter. Vanguard Group Inc. now owns 40,976,982 shares of the energy company's stock valued at $52,451,000 after acquiring an additional 2,873,655 shares in the last quarter. Invesco Ltd. increased its stake in FuelCell Energy by 33.0% in the 3rd quarter. Invesco Ltd. now owns 7,579,525 shares of the energy company's stock worth $9,702,000 after buying an additional 1,880,397 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in FuelCell Energy by 130.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,576,467 shares of the energy company's stock valued at $4,122,000 after purchasing an additional 1,456,826 shares during the period. Caxton Associates LP increased its position in FuelCell Energy by 212.0% during the 4th quarter. Caxton Associates LP now owns 1,457,980 shares of the energy company's stock valued at $2,333,000 after purchasing an additional 990,648 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of FuelCell Energy by 66.0% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,443,666 shares of the energy company's stock worth $1,718,000 after buying an additional 574,042 shares during the last quarter. 42.78% of the stock is owned by hedge funds and other institutional investors.
About FuelCell Energy
(Get Free Report)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.
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