Price T Rowe Associates Inc. MD Sells 565,140 Shares of FuelCell Energy, Inc. (NASDAQ:FCEL)

Price T Rowe Associates Inc. MD decreased its holdings in shares of FuelCell Energy, Inc. (NASDAQ:FCEL - Free Report) by 95.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,257 shares of the energy company's stock after selling 565,140 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.12% of FuelCell Energy worth $229,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FCEL. Marshall Wace LLP acquired a new position in FuelCell Energy in the 4th quarter valued at approximately $860,000. Federated Hermes Inc. acquired a new stake in shares of FuelCell Energy during the 4th quarter worth approximately $1,357,000. Canada Pension Plan Investment Board bought a new stake in shares of FuelCell Energy during the fourth quarter valued at approximately $30,000. ExodusPoint Capital Management LP acquired a new position in shares of FuelCell Energy in the fourth quarter valued at $112,000. Finally, Aristides Capital LLC bought a new position in FuelCell Energy in the fourth quarter worth $170,000. Institutional investors and hedge funds own 42.78% of the company's stock.

FuelCell Energy Trading Down 6.1%

Shares of FCEL traded down $0.30 during trading hours on Tuesday, hitting $4.58. 734,454 shares of the stock traded hands, compared to its average volume of 1,255,439. The business has a fifty day moving average of $4.41 and a 200-day moving average of $7.32. The company has a current ratio of 6.01, a quick ratio of 4.48 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $104.03 million, a PE ratio of -0.58 and a beta of 4.08. FuelCell Energy, Inc. has a 1-year low of $3.58 and a 1-year high of $30.90.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last issued its earnings results on Tuesday, March 11th. The energy company reported ($1.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.52) by $0.10. FuelCell Energy had a negative net margin of 113.09% and a negative return on equity of 18.58%. The company had revenue of $19.00 million for the quarter, compared to analyst estimates of $35.37 million. During the same quarter last year, the firm earned ($1.25) EPS. Analysts expect that FuelCell Energy, Inc. will post -6.11 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.