FuelCell Energy, Inc. (NASDAQ:FCEL) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its stake in FuelCell Energy, Inc. (NASDAQ:FCEL - Free Report) by 94.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,376 shares of the energy company's stock after selling 216,121 shares during the period. Millennium Management LLC owned 0.07% of FuelCell Energy worth $121,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FCEL. Canada Pension Plan Investment Board acquired a new position in shares of FuelCell Energy in the 4th quarter valued at $30,000. ExodusPoint Capital Management LP purchased a new stake in FuelCell Energy in the fourth quarter valued at $112,000. Aristides Capital LLC purchased a new stake in FuelCell Energy in the fourth quarter valued at $170,000. Susquehanna Fundamental Investments LLC acquired a new position in FuelCell Energy in the fourth quarter valued at $444,000. Finally, Marshall Wace LLP purchased a new position in shares of FuelCell Energy during the fourth quarter worth about $860,000. Institutional investors and hedge funds own 42.78% of the company's stock.

FuelCell Energy Stock Performance

NASDAQ:FCEL traded down $1.04 during trading hours on Tuesday, reaching $5.90. 1,880,774 shares of the company's stock were exchanged, compared to its average volume of 1,288,144. FuelCell Energy, Inc. has a 1-year low of $3.58 and a 1-year high of $23.88. The company has a quick ratio of 3.82, a current ratio of 5.62 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $134.46 million, a price-to-earnings ratio of -0.78 and a beta of 4.12. The company has a 50-day moving average of $4.73 and a 200 day moving average of $6.88.

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

Analyst Ratings Changes

Separately, B. Riley reduced their target price on FuelCell Energy from $9.00 to $8.00 and set a "neutral" rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, FuelCell Energy has an average rating of "Hold" and an average target price of $9.86.

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.