2,893,183 Shares in FuelCell Energy, Inc. $FCEL Acquired by Legal & General Group Plc

Legal & General Group Plc bought a new stake in FuelCell Energy, Inc. (NASDAQ:FCEL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,893,183 shares of the energy company’s stock, valued at approximately $21,149,000. Legal & General Group Plc owned approximately 6.06% of FuelCell Energy as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its position in shares of FuelCell Energy by 1,316.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock valued at $59,000 after acquiring an additional 7,080 shares during the last quarter. Independent Advisor Alliance acquired a new position in FuelCell Energy in the 3rd quarter valued at about $80,000. Bank of America Corp DE grew its stake in shares of FuelCell Energy by 31.9% in the 2nd quarter. Bank of America Corp DE now owns 18,351 shares of the energy company’s stock valued at $103,000 after buying an additional 4,435 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of FuelCell Energy by 638.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 19,016 shares of the energy company’s stock valued at $107,000 after buying an additional 16,440 shares during the period. Finally, PharVision Advisers LLC acquired a new stake in shares of FuelCell Energy during the 3rd quarter worth approximately $107,000. 42.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FCEL shares. Jefferies Financial Group set a $7.20 price objective on FuelCell Energy and gave the stock a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings upgraded FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company decreased their price target on FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 10th. Seven analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $8.24.

FuelCell Energy Price Performance

Shares of NASDAQ FCEL opened at $21.66 on Monday. The company has a quick ratio of 6.51, a current ratio of 7.96 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $12.47 and its two-hundred day moving average is $9.43. FuelCell Energy, Inc. has a 52-week low of $3.78 and a 52-week high of $27.69. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -3.13 and a beta of 2.42.

FuelCell Energy (NASDAQ:FCEL) last released its quarterly earnings results on Monday, March 9th. The energy company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.16. The business had revenue of $30.53 million during the quarter, compared to analyst estimates of $42.22 million. FuelCell Energy had a negative return on equity of 17.76% and a negative net margin of 107.51%. Research analysts predict that FuelCell Energy, Inc. will post -2.18 EPS for the current year.

FuelCell Energy Profile

FuelCell Energy, Inc (NASDAQ: FCEL) is a publicly traded company that designs, manufactures and operates turnkey molten carbonate fuel cell power plants. These stationary, on-site energy solutions generate electricity and heat through an electrochemical process that combines natural gas or biogas with oxygen, producing power with lower greenhouse gas emissions than traditional fossil fuel-based generation. The company’s fuel cell technology is engineered for continuous, baseload operation and can be integrated into microgrid architectures and industrial power systems to provide reliable, around-the-clock energy.

The company’s core product suite, marketed under the SureSource brand, encompasses both power generation and integrated carbon capture or hydrogen production capabilities.