Wells Fargo & Company MN Sells 265,552 Shares of FuelCell Energy, Inc. (NASDAQ:FCEL)

Wells Fargo & Company MN trimmed its stake in FuelCell Energy, Inc. (NASDAQ:FCEL - Free Report) by 96.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,112 shares of the energy company's stock after selling 265,552 shares during the period. Wells Fargo & Company MN owned 0.05% of FuelCell Energy worth $100,000 as of its most recent SEC filing.

Separately, JPMorgan Chase & Co. grew its position in shares of FuelCell Energy by 35.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 545,894 shares of the energy company's stock worth $207,000 after buying an additional 143,786 shares during the period. 42.78% of the stock is currently owned by institutional investors.

FuelCell Energy Stock Down 5.8%

Shares of FCEL traded down $0.25 during trading hours on Wednesday, hitting $4.03. The company had a trading volume of 1,040,500 shares, compared to its average volume of 1,267,063. The stock has a market capitalization of $91.54 million, a price-to-earnings ratio of -0.51 and a beta of 4.08. The firm has a fifty day moving average price of $4.59 and a 200-day moving average price of $7.51. FuelCell Energy, Inc. has a 52-week low of $3.58 and a 52-week 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 issued its earnings results on Tuesday, March 11th. The energy company reported ($1.42) earnings per share (EPS) for the quarter, topping 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 business had revenue of $19.00 million during the quarter, compared to analysts' expectations of $35.37 million. During the same period in the previous year, the company earned ($1.25) earnings per share. On average, equities research analysts forecast that FuelCell Energy, Inc. will post -6.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, B. Riley dropped their price objective on shares of FuelCell Energy from $12.00 to $9.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 12th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $10.03.

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.