Stock Traders Purchase Large Volume of Call Options on FuelCell Energy (NASDAQ:FCEL)

Key Points

• FuelCell Energy saw a significant surge in activity as traders purchased 10,327 call options, marking a 72% increase over the typical volume.
• Several institutional investors have increased their stakes in FuelCell Energy, with Federated Hermes Inc. raising its position by 254% in the first quarter alone.
• Analysts have mixed views on the stock, with a consensus rating of "Reduce" and an average target price of $8.78.

FuelCell Energy, Inc. (NASDAQ:FCEL - Get Free Report) saw some unusual options trading on Friday. Stock traders purchased 10,327 call options on the stock. This is an increase of 72% compared to the typical volume of 5,989 call options.

Institutional Investors Weigh In On FuelCell Energy

Several institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. lifted its position in shares of FuelCell Energy by 254.0% during the first quarter. Federated Hermes Inc. now owns 531,615 shares of the energy company's stock worth $2,440,000 after acquiring an additional 381,450 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of FuelCell Energy by 6.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 334,793 shares of the energy company's stock worth $1,877,000 after acquiring an additional 19,857 shares in the last quarter. Penserra Capital Management LLC lifted its position in shares of FuelCell Energy by 167.6% during the first quarter. Penserra Capital Management LLC now owns 195,802 shares of the energy company's stock worth $898,000 after acquiring an additional 122,638 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of FuelCell Energy by 18.6% in the first quarter. Bank of New York Mellon Corp now owns 51,764 shares of the energy company's stock worth $238,000 after purchasing an additional 8,121 shares during the period. Finally, Nuveen LLC bought a new position in shares of FuelCell Energy in the first quarter worth $218,000. Hedge funds and other institutional investors own 42.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $12.00 target price on shares of FuelCell Energy in a report on Monday, September 15th. 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, June 13th. Finally, UBS Group upped their target price on FuelCell Energy from $4.50 to $7.25 and gave the company a "neutral" rating in a report on Wednesday, September 17th. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of $8.78.

FuelCell Energy Stock Performance

FuelCell Energy stock traded up $1.38 during trading on Friday, hitting $10.06. The stock had a trading volume of 7,880,386 shares, compared to its average volume of 1,736,925. FuelCell Energy has a 1 year low of $3.58 and a 1 year high of $13.98. The company has a quick ratio of 3.85, a current ratio of 5.37 and a debt-to-equity ratio of 0.21. The stock's 50 day moving average is $5.56 and its two-hundred day moving average is $5.17. The stock has a market cap of $324.93 million, a price-to-earnings ratio of -1.09 and a beta of 4.25.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last posted its quarterly earnings data on Tuesday, September 9th. The energy company reported ($3.78) EPS for the quarter, missing the consensus estimate of ($1.59) by ($2.19). The firm had revenue of $46.74 million during the quarter, compared to analysts' expectations of $48.30 million. FuelCell Energy had a negative net margin of 130.81% and a negative return on equity of 20.53%. During the same quarter in the previous year, the company posted ($1.94) EPS. As a group, analysts predict that FuelCell Energy will post -6.11 EPS 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.

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