Penserra Capital Management LLC Purchases 122,638 Shares of FuelCell Energy, Inc. (NASDAQ:FCEL)

Penserra Capital Management LLC increased its position in FuelCell Energy, Inc. (NASDAQ:FCEL - Free Report) by 167.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 195,802 shares of the energy company's stock after buying an additional 122,638 shares during the quarter. Penserra Capital Management LLC owned 0.93% of FuelCell Energy worth $898,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in 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 purchasing an additional 8,121 shares during the period. Rhumbline Advisers increased 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 valued at $147,000 after purchasing an additional 5,585 shares during the period. GAMMA Investing LLC increased its position in FuelCell Energy by 451.5% during the 1st 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. Connective Capital Management LLC purchased a new position in FuelCell Energy during the 4th quarter valued at $202,000. Finally, Squarepoint Ops LLC purchased a new position in FuelCell Energy during the 4th quarter valued at $99,000. 42.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, B. Riley reduced their price objective on shares of FuelCell Energy from $9.00 to $8.00 and set a "neutral" rating on the stock in a research report on Friday, June 13th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, FuelCell Energy has an average rating of "Hold" and an average target price of $9.86.

FuelCell Energy Stock Down 6.4%

Shares of FCEL stock traded down $0.37 during mid-day trading on Friday, reaching $5.37. 2,095,138 shares of the company's stock traded hands, compared to its average volume of 1,330,071. FuelCell Energy, Inc. has a 12 month low of $3.58 and a 12 month high of $21.60. The company has a market cap of $122.38 million, a P/E ratio of -0.71 and a beta of 4.09. 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 company's 50-day moving average price is $5.34 and its 200-day moving average price is $6.26.

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 for the quarter, compared to the consensus estimate of $32.42 million. During the same quarter last year, the firm posted ($2.10) EPS. On average, equities analysts expect that FuelCell Energy, Inc. will post -6.11 earnings per share for the current fiscal year.

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.