FuelCell Energy (NASDAQ:FCEL) Raised to “Hold” at B. Riley

B. Riley upgraded shares of FuelCell Energy (NASDAQ:FCEL) to a hold rating in a research note issued to investors on Tuesday, Zacks.com reports.

FuelCell Energy Price Performance

Shares of NASDAQ:FCEL opened at $0.64 on Tuesday. The firm has a market cap of $317.52 million, a PE ratio of -2.56 and a beta of 3.56. FuelCell Energy has a 52 week low of $0.61 and a 52 week high of $2.54. The firm’s fifty day moving average is $0.83 and its 200-day moving average is $1.11. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.80 and a current ratio of 6.55.

FuelCell Energy (NASDAQ:FCEL) last released its quarterly earnings results on Monday, June 10th. The energy company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $22.42 million for the quarter, compared to analyst estimates of $22.12 million. FuelCell Energy had a negative return on equity of 15.66% and a negative net margin of 123.30%. During the same quarter in the previous year, the company posted ($0.09) EPS. Sell-side analysts predict that FuelCell Energy will post -0.26 earnings per share for the current year.

Hedge Funds Weigh In On FuelCell Energy

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in FuelCell Energy by 7.5% in the third quarter. Vanguard Group Inc. now owns 40,976,982 shares of the energy company’s stock worth $52,451,000 after purchasing an additional 2,873,655 shares during the period. Invesco Ltd. raised its stake in FuelCell Energy by 33.0% during 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 boosted its holdings in FuelCell Energy by 130.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,576,467 shares of the energy company’s stock worth $4,122,000 after acquiring an additional 1,456,826 shares in the last quarter. Caxton Associates LP grew its stake in FuelCell Energy by 212.0% in the fourth quarter. Caxton Associates LP now owns 1,457,980 shares of the energy company’s stock valued at $2,333,000 after acquiring an additional 990,648 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of FuelCell Energy by 66.0% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,443,666 shares of the energy company’s stock valued at $1,718,000 after acquiring an additional 574,042 shares in the last quarter. Institutional investors own 42.78% of the company’s stock.

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.