FuelCell Energy (NASDAQ:FCEL – Free Report) had its price objective cut by UBS Group from $1.35 to $0.50 in a research note published on Tuesday, Benzinga reports. They currently have a neutral rating on the energy company’s stock.
Separately, B. Riley upgraded shares of FuelCell Energy to a hold rating in a report on Tuesday, June 25th.
Read Our Latest Report on FuelCell Energy
FuelCell Energy Stock Down 3.8 %
FuelCell Energy (NASDAQ:FCEL – Get Free Report) last announced its earnings results on Monday, June 10th. The energy company reported ($0.07) earnings per share (EPS) for the quarter, beating 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 business had revenue of $22.42 million for the quarter, compared to analyst estimates of $22.12 million. During the same quarter last year, the firm earned ($0.09) EPS. On average, analysts anticipate that FuelCell Energy will post -0.26 EPS for the current year.
Institutional Investors Weigh In On FuelCell Energy
A number of institutional investors and hedge funds have recently made changes to their positions in FCEL. Arizona State Retirement System increased its holdings in FuelCell Energy by 8.8% during the fourth quarter. Arizona State Retirement System now owns 125,970 shares of the energy company’s stock worth $202,000 after buying an additional 10,152 shares during the last quarter. Victory Capital Management Inc. grew its holdings in FuelCell Energy by 22.5% during the fourth quarter. Victory Capital Management Inc. now owns 60,575 shares of the energy company’s stock worth $97,000 after purchasing an additional 11,109 shares during the period. Baader Bank Aktiengesellschaft increased its position in FuelCell Energy by 97.9% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 26,454 shares of the energy company’s stock worth $42,000 after buying an additional 13,084 shares during the last quarter. Atria Wealth Solutions Inc. raised its stake in FuelCell Energy by 15.8% in the fourth quarter. Atria Wealth Solutions Inc. now owns 113,371 shares of the energy company’s stock valued at $181,000 after buying an additional 15,441 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of FuelCell Energy by 6.6% in the fourth quarter. BNP Paribas Financial Markets now owns 305,760 shares of the energy company’s stock valued at $489,000 after buying an additional 18,844 shares during the last quarter. Institutional investors own 42.78% of the company’s stock.
About FuelCell Energy
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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