Northern Trust Corp Sells 3,897,593 Shares of FuelCell Energy, Inc. (NASDAQ:FCEL)

Northern Trust Corp lowered its position in FuelCell Energy, Inc. (NASDAQ:FCEL - Free Report) by 96.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 158,669 shares of the energy company's stock after selling 3,897,593 shares during the quarter. Northern Trust Corp owned about 0.78% of FuelCell Energy worth $1,434,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FCEL. Canada Pension Plan Investment Board purchased a new position in FuelCell Energy during the 4th quarter valued at about $30,000. ExodusPoint Capital Management LP purchased a new position in FuelCell Energy during the 4th quarter valued at about $112,000. Aristides Capital LLC purchased a new position in FuelCell Energy during the 4th quarter valued at about $170,000. JPMorgan Chase & Co. grew its holdings in FuelCell Energy by 35.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 545,894 shares of the energy company's stock valued at $207,000 after buying an additional 143,786 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in FuelCell Energy during the 4th quarter valued at about $444,000. Hedge funds and other institutional investors own 42.78% of the company's stock.

Wall Street Analyst Weigh In

Separately, B. Riley dropped their price target on FuelCell Energy from $12.00 to $9.00 and set a "neutral" rating for the company in a research report on Wednesday, March 12th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, FuelCell Energy has an average rating of "Hold" and a consensus price target of $10.03.

FuelCell Energy Price Performance

NASDAQ:FCEL traded down $0.12 during mid-day trading on Friday, reaching $5.09. The stock had a trading volume of 1,172,320 shares, compared to its average volume of 1,244,462. The firm has a 50 day moving average price of $4.33 and a two-hundred day moving average price of $7.12. The stock has a market capitalization of $115.62 million, a P/E ratio of -0.64 and a beta of 4.08. FuelCell Energy, Inc. has a one year low of $3.58 and a one year high of $30.90. 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 (NASDAQ:FCEL - Get Free Report) last released its earnings results on Tuesday, March 11th. The energy company reported ($1.42) earnings per share for the quarter, topping analysts' consensus estimates of ($1.52) by $0.10. The company had revenue of $19.00 million during the quarter, compared to the consensus estimate of $35.37 million. FuelCell Energy had a negative return on equity of 18.58% and a negative net margin of 113.09%. During the same quarter in the previous year, the company posted ($1.25) EPS. As a group, analysts expect that FuelCell Energy, Inc. will post -6.11 earnings per share for the current year.

FuelCell Energy Company 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.