First Trust Advisors LP Takes $758,000 Position in FuelCell Energy, Inc. $FCEL

First Trust Advisors LP acquired a new position in FuelCell Energy, Inc. (NASDAQ:FCEL) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 116,106 shares of the energy company’s stock, valued at approximately $758,000. First Trust Advisors LP owned approximately 0.22% of FuelCell Energy at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FCEL. Legal & General Group Plc purchased a new position in FuelCell Energy during the fourth quarter valued at $21,149,000. Invesco Ltd. increased its position in FuelCell Energy by 75.4% in the fourth quarter. Invesco Ltd. now owns 1,505,430 shares of the energy company’s stock worth $11,005,000 after buying an additional 647,151 shares in the last quarter. CenterBook Partners LP bought a new position in shares of FuelCell Energy in the fourth quarter worth about $9,348,000. Renaissance Technologies LLC lifted its position in shares of FuelCell Energy by 14.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,219,600 shares of the energy company’s stock valued at $8,915,000 after buying an additional 150,600 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of FuelCell Energy by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,073,609 shares of the energy company’s stock valued at $8,374,000 after buying an additional 23,981 shares in the last quarter. 42.78% of the stock is owned by institutional investors.

FuelCell Energy Stock Performance

NASDAQ FCEL opened at $19.20 on Wednesday. The business’s 50 day moving average price is $21.83 and its 200-day moving average price is $14.61. FuelCell Energy, Inc. has a fifty-two week low of $3.78 and a fifty-two week high of $37.88. The company has a market cap of $1.54 billion, a P/E ratio of -2.92 and a beta of 2.37. The company has a debt-to-equity ratio of 0.18, a quick ratio of 7.20 and a current ratio of 8.59.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings results on Monday, June 8th. The energy company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($1.05). The company had revenue of $35.59 million during the quarter, compared to the consensus estimate of $40.47 million. FuelCell Energy had a negative return on equity of 15.90% and a negative net margin of 132.41%.During the same quarter in the prior year, the business earned ($1.79) earnings per share. Sell-side analysts predict that FuelCell Energy, Inc. will post -1.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on FCEL. B. Riley Financial upgraded shares of FuelCell Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $13.00 to $32.00 in a research note on Monday, June 29th. Jefferies Financial Group raised shares of FuelCell Energy from a “hold” rating to a “buy” rating and upped their price target for the company from $16.00 to $24.00 in a research note on Friday, June 26th. KeyCorp reiterated a “sector weight” rating on shares of FuelCell Energy in a research report on Tuesday, June 9th. Canaccord Genuity Group lifted their price objective on shares of FuelCell Energy from $12.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Finally, Wall Street Zen downgraded shares of FuelCell Energy from a “hold” rating to a “sell” rating in a report on Sunday. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.83.

Insider Buying and Selling at FuelCell Energy

In other news, EVP Shankar Achanta sold 2,500 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $28.71, for a total value of $71,775.00. Following the completion of the sale, the executive vice president owned 2,618 shares in the company, valued at approximately $75,162.78. This trade represents a 48.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.46% of the company’s stock.

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.