Arizona State Retirement System Acquires 12,302 Shares of FuelCell Energy, Inc. (NASDAQ:FCEL)

Posted by MarketBeat News on Aug 4th, 2022

Arizona State Retirement System boosted its holdings in shares of FuelCell Energy, Inc. (NASDAQ:FCEL – Get Rating) by 14.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 99,101 shares of the energy company’s stock after buying an additional 12,302 shares during the quarter. Arizona State Retirement System’s holdings in FuelCell Energy were worth $571,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FCEL. Psagot Value Holdings Ltd. Israel grew its position in FuelCell Energy by 75.8% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 5,800 shares of the energy company’s stock valued at $30,000 after buying an additional 2,500 shares during the period. Millburn Ridgefield Corp grew its position in FuelCell Energy by 256.4% during the first quarter. Millburn Ridgefield Corp now owns 6,736 shares of the energy company’s stock valued at $39,000 after buying an additional 4,846 shares during the period. Capital Advisory Group Advisory Services LLC bought a new position in shares of FuelCell Energy in the first quarter worth approximately $63,000. Profund Advisors LLC bought a new position in shares of FuelCell Energy in the fourth quarter worth approximately $65,000. Finally, C2C Wealth Management LLC bought a new position in shares of FuelCell Energy in the fourth quarter worth approximately $65,000. 42.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Craig Hallum dropped their price target on shares of FuelCell Energy from $6.00 to $3.00 and set a “hold” rating for the company in a research report on Friday, June 10th. KeyCorp reiterated a “sector weight” rating on shares of FuelCell Energy in a research report on Thursday, June 2nd. Five analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.00.

FuelCell Energy Price Performance

Shares of NASDAQ:FCEL opened at $3.76 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 6.38 and a current ratio of 7.41. The firm has a fifty day moving average price of $3.76 and a 200 day moving average price of $4.54. FuelCell Energy, Inc. has a fifty-two week low of $2.87 and a fifty-two week high of $11.63. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -12.53 and a beta of 3.96.

FuelCell Energy (NASDAQ:FCEL – Get Rating) last issued its earnings results on Thursday, June 9th. The energy company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). FuelCell Energy had a negative return on equity of 12.76% and a negative net margin of 120.33%. The company had revenue of $16.40 million for the quarter, compared to the consensus estimate of $32.32 million. During the same quarter in the prior year, the company posted ($0.06) EPS. FuelCell Energy’s revenue was up 17.1% compared to the same quarter last year. As a group, sell-side analysts expect that FuelCell Energy, Inc. will post -0.29 earnings per share for the current fiscal year.

FuelCell Energy Profile

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FuelCell Energy, Inc, together with its subsidiaries, designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed baseload power generation. It offers SureSource1500, a 1.4-megawatt (MW) platform; SureSource 3000, a 2.8 MW platform; SureSource 4000, a 3.7 MW platform; SureSource 250, a 250- kilowatt (kW) platform; SureSource 400, a 400-kW platform; and SureSource Hydrogen, a 2.3 MW platform that is designed to produce up to 1,200 kilograms of hydrogen per day for multi-megawatt utility, microgrid, and distributed hydrogen applications, as well as on-site heat and chilling applications.