683 Capital Management LLC Takes Position in FuelCell Energy, Inc. $FCEL

683 Capital Management LLC acquired a new stake in shares of FuelCell Energy, Inc. (NASDAQ:FCEL) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 120,000 shares of the energy company’s stock, valued at approximately $877,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FCEL. Rhumbline Advisers raised its position in shares of FuelCell Energy by 21.1% during the 1st quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock valued at $147,000 after purchasing an additional 5,585 shares during the period. Marshall Wace LLP bought a new stake in shares of FuelCell Energy during the 2nd quarter valued at $122,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of FuelCell Energy by 6.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 334,793 shares of the energy company’s stock valued at $1,877,000 after purchasing an additional 19,857 shares during the period. Bank of America Corp DE raised its position in shares of FuelCell Energy by 31.9% during the 2nd quarter. Bank of America Corp DE now owns 18,351 shares of the energy company’s stock valued at $103,000 after purchasing an additional 4,435 shares during the period. Finally, Brevan Howard Capital Management LP bought a new stake in shares of FuelCell Energy during the 2nd quarter valued at $216,000. 42.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FCEL has been the subject of several research analyst reports. Canaccord Genuity Group raised their target price on shares of FuelCell Energy from $12.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. KeyCorp reaffirmed a “sector weight” rating on shares of FuelCell Energy in a research note on Tuesday, June 9th. Wells Fargo & Company raised their target price on shares of FuelCell Energy from $6.00 to $8.00 and gave the company an “underweight” rating in a research note on Tuesday. Jefferies Financial Group raised their target price on shares of FuelCell Energy from $7.20 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, June 10th. Finally, TD Cowen reaffirmed a “hold” rating and set a $16.00 target price (up from $9.00) on shares of FuelCell Energy in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $15.04.

FuelCell Energy Stock Performance

Shares of NASDAQ:FCEL opened at $20.04 on Thursday. FuelCell Energy, Inc. has a 52 week low of $3.78 and a 52 week high of $27.69. The stock has a market capitalization of $1.35 billion, a P/E ratio of -3.05 and a beta of 2.42. The firm has a fifty day simple moving average of $15.69 and a two-hundred day simple moving average of $10.57. The company has a quick ratio of 7.20, a current ratio of 8.59 and a debt-to-equity ratio of 0.18.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings data on Monday, June 8th. The energy company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01). FuelCell Energy had a negative return on equity of 15.90% and a negative net margin of 132.41%.The business had revenue of $35.59 million during the quarter, compared to analysts’ expectations of $40.47 million. During the same period in the previous year, the business earned ($1.79) earnings per share. On average, analysts expect that FuelCell Energy, Inc. will post -1.84 earnings per share for the current fiscal year.

FuelCell Energy Company 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.