Millennium Management LLC Reduces Stock Holdings in FuelCell Energy, Inc. (NASDAQ:FCEL)

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Marshall Wace LLP acquired a new position in shares of FuelCell Energy in the 4th quarter valued at about $860,000. Federated Hermes Inc. acquired a new position in shares of FuelCell Energy in the 4th quarter valued at about $1,357,000. Canada Pension Plan Investment Board acquired a new position in shares of FuelCell Energy in the 4th quarter valued at about $30,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of FuelCell Energy in the 4th quarter valued at about $444,000. Finally, ExodusPoint Capital Management LP acquired a new position in shares of FuelCell Energy in the 4th quarter valued at about $112,000. 42.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, B. Riley reduced their price objective on FuelCell Energy from $9.00 to $8.00 and set a "neutral" rating on the stock in a research note on Friday. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company's stock. Based on data from MarketBeat, FuelCell Energy currently has an average rating of "Hold" and an average price target of $9.86.

FuelCell Energy Stock Down 4.6%

Shares of NASDAQ:FCEL traded down $0.29 during mid-day trading on Friday, hitting $6.03. 865,873 shares of the company traded hands, compared to its average volume of 1,282,286. The firm has a market cap of $137.43 million, a P/E ratio of -0.76 and a beta of 4.12. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.48 and a current ratio of 6.01. FuelCell Energy, Inc. has a 52-week low of $3.58 and a 52-week high of $26.64. The firm's 50 day simple moving average is $4.64 and its 200 day simple moving average is $6.98.

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 the consensus estimate of ($1.51) by ($0.28). The company had revenue of $37.41 million for the quarter, compared to analysts' expectations of $32.42 million. FuelCell Energy had a negative net margin of 113.09% and a negative return on equity of 18.58%. During the same quarter in the previous year, the business posted ($2.10) earnings per share. On average, equities analysts anticipate that FuelCell Energy, Inc. will post -6.11 EPS 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.