CenterBook Partners LP Purchases New Stake in FuelCell Energy, Inc. $FCEL

CenterBook Partners LP purchased a new stake in FuelCell Energy, Inc. (NASDAQ:FCEL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,278,746 shares of the energy company’s stock, valued at approximately $9,348,000.

Several other hedge funds have also bought and sold shares of FCEL. Legal & General Group Plc acquired a new stake in FuelCell Energy in the 4th quarter valued at $21,149,000. Two Sigma Investments LP acquired a new stake in FuelCell Energy in the 3rd quarter valued at $5,348,000. Invesco Ltd. grew its position in FuelCell Energy by 194.5% in the 3rd quarter. Invesco Ltd. now owns 858,279 shares of the energy company’s stock valued at $6,695,000 after purchasing an additional 566,852 shares during the period. Geode Capital Management LLC grew its position in FuelCell Energy by 115.3% in the 4th quarter. Geode Capital Management LLC now owns 592,390 shares of the energy company’s stock valued at $4,333,000 after purchasing an additional 317,301 shares during the period. Finally, BNP Paribas Financial Markets grew its position in FuelCell Energy by 36,034.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 304,613 shares of the energy company’s stock valued at $2,376,000 after purchasing an additional 303,770 shares during the period. Institutional investors and hedge funds own 42.78% of the company’s stock.

FuelCell Energy Price Performance

Shares of NASDAQ:FCEL opened at $17.33 on Monday. The company has a current ratio of 7.96, a quick ratio of 6.51 and a debt-to-equity ratio of 0.19. The stock’s fifty day simple moving average is $13.92 and its two-hundred day simple moving average is $9.93. FuelCell Energy, Inc. has a 1-year low of $3.78 and a 1-year high of $27.69. The stock has a market cap of $918.14 million, a PE ratio of -2.51 and a beta of 2.42.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings data on Monday, March 9th. The energy company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.16. FuelCell Energy had a negative return on equity of 17.76% and a negative net margin of 107.51%.The business had revenue of $30.53 million for the quarter, compared to analysts’ expectations of $42.22 million. As a group, analysts forecast that FuelCell Energy, Inc. will post -2.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FCEL shares. Wells Fargo & Company reduced their price target on shares of FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Tuesday, March 10th. Jefferies Financial Group set a $7.20 price target on shares of FuelCell Energy and gave the company a “hold” rating in a research report on Tuesday, March 10th. Finally, Weiss Ratings raised shares of FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. Seven research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $8.24.

FuelCell Energy Company Profile

FuelCell Energy, Inc (NASDAQ: FCEL) is a publicly traded company that designs, manufactures and operates turnkey molten carbonate fuel cell power plants. These stationary, on-site energy solutions generate electricity and heat through an electrochemical process that combines natural gas or biogas with oxygen, producing power with lower greenhouse gas emissions than traditional fossil fuel-based generation. The company’s fuel cell technology is engineered for continuous, baseload operation and can be integrated into microgrid architectures and industrial power systems to provide reliable, around-the-clock energy.

The company’s core product suite, marketed under the SureSource brand, encompasses both power generation and integrated carbon capture or hydrogen production capabilities.