Federated Hermes Inc. Increases Stake in FuelCell Energy, Inc. (NASDAQ:FCEL)

Key Points

• Federated Hermes Inc. increased its stake in FuelCell Energy by 254.0%, acquiring 381,450 shares to bring their total holdings to 531,615 shares, valued at approximately $2.44 million.
• The stock of FuelCell Energy saw a decline of $0.25 on Wednesday, trading at $4.41, significantly down from its fifty-two week high of $16.09.
• Analysts have given FuelCell Energy a consensus rating of "Hold" with an average target price of $9.86, although B. Riley recently lowered their target from $9.00 to $8.00.

Federated Hermes Inc. boosted its position in FuelCell Energy, Inc. (NASDAQ:FCEL - Free Report) by 254.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 531,615 shares of the energy company's stock after buying an additional 381,450 shares during the quarter. Federated Hermes Inc. owned approximately 2.34% of FuelCell Energy worth $2,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Penserra Capital Management LLC increased its holdings in shares of FuelCell Energy by 167.6% in the first quarter. Penserra Capital Management LLC now owns 195,802 shares of the energy company's stock worth $898,000 after buying an additional 122,638 shares during the period. Marshall Wace LLP purchased a new stake in FuelCell Energy during the 4th quarter valued at about $860,000. Rhumbline Advisers grew its position in FuelCell Energy by 21.1% during the 1st quarter. Rhumbline Advisers now owns 32,012 shares of the energy company's stock worth $147,000 after acquiring an additional 5,585 shares during the last quarter. Squarepoint Ops LLC purchased a new position in FuelCell Energy in the 4th quarter worth approximately $99,000. Finally, Bank of New York Mellon Corp lifted its position in FuelCell Energy by 18.6% in the first quarter. Bank of New York Mellon Corp now owns 51,764 shares of the energy company's stock valued at $238,000 after purchasing an additional 8,121 shares during the last quarter. Hedge funds and other institutional investors own 42.78% of the company's stock.

Analyst Upgrades and Downgrades

Separately, B. Riley dropped their price objective on FuelCell Energy from $9.00 to $8.00 and set a "neutral" rating for the company in a research note on Friday, June 13th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $9.86.

FuelCell Energy Trading Down 1.6%

NASDAQ:FCEL traded down $0.07 during mid-day trading on Friday, reaching $4.27. 869,067 shares of the company's stock traded hands, compared to its average volume of 1,910,811. The company has a 50 day moving average price of $5.53 and a 200-day moving average price of $5.53. The firm has a market capitalization of $97.31 million, a price-to-earnings ratio of -0.57 and a beta of 4.15. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.62 and a quick ratio of 3.82. FuelCell Energy, Inc. has a 12-month low of $3.58 and a 12-month high of $16.09.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last issued its quarterly earnings data on Friday, June 6th. The energy company reported ($1.79) earnings per share for the quarter, missing analysts' consensus estimates of ($1.51) by ($0.28). FuelCell Energy had a negative return on equity of 21.16% and a negative net margin of 108.52%. The business had revenue of $37.41 million during the quarter, compared to the consensus estimate of $32.42 million. During the same quarter in the prior year, the business posted ($2.10) earnings per share. On average, sell-side analysts predict that FuelCell Energy, Inc. will post -6.11 earnings per share for the current year.

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.