FuelCell Energy, Inc. (NASDAQ:FCEL) Shares Acquired by Federated Hermes Inc.

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. grew its holdings in FuelCell Energy, Inc. (NASDAQ:FCEL - Free Report) by 254.0% in the first quarter, according to its most recent disclosure 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 2.34% of FuelCell Energy worth $2,440,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FCEL. Canada Pension Plan Investment Board acquired a new position in FuelCell Energy during the fourth quarter worth $30,000. Rhumbline Advisers raised its holdings in shares of 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 period. Bank of New York Mellon Corp boosted its position in shares of FuelCell Energy by 18.6% during the 1st quarter. Bank of New York Mellon Corp now owns 51,764 shares of the energy company's stock valued at $238,000 after acquiring an additional 8,121 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of FuelCell Energy by 451.5% in the first quarter. GAMMA Investing LLC now owns 12,398 shares of the energy company's stock valued at $57,000 after purchasing an additional 10,150 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in FuelCell Energy during the fourth quarter worth about $99,000. Hedge funds and other institutional investors own 42.78% of the company's stock.

FuelCell Energy Trading Down 1.6%

FuelCell Energy stock traded down $0.07 during trading on Thursday, hitting $4.34. The company had a trading volume of 1,123,246 shares, compared to its average volume of 1,313,433. The stock has a market cap of $98.91 million, a price-to-earnings ratio of -0.58 and a beta of 4.15. The company has a current ratio of 5.62, a quick ratio of 3.82 and a debt-to-equity ratio of 0.20. FuelCell Energy, Inc. has a 1-year low of $3.58 and a 1-year high of $16.09. The company's 50 day simple moving average is $5.56 and its 200-day simple moving average is $5.59.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last issued its quarterly earnings results on Friday, June 6th. The energy company reported ($1.79) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.51) by ($0.28). The business had revenue of $37.41 million for the quarter, compared to analysts' expectations of $32.42 million. FuelCell Energy had a negative return on equity of 21.16% and a negative net margin of 108.52%. During the same quarter last year, the company earned ($2.10) earnings per share. As a group, analysts expect that FuelCell Energy, Inc. will post -6.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, B. Riley decreased their target price on shares of FuelCell Energy from $9.00 to $8.00 and set a "neutral" rating on the stock in a report on Friday, June 13th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, FuelCell Energy presently has a consensus rating of "Hold" and a consensus price target of $9.86.

FuelCell Energy 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.