Legal & General Group Plc Makes New Investment in FuelCell Energy, Inc. $FCEL

Legal & General Group Plc purchased a new position in FuelCell Energy, Inc. (NASDAQ:FCEL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,893,183 shares of the energy company’s stock, valued at approximately $21,149,000. Legal & General Group Plc owned approximately 0.06% of FuelCell Energy as of its most recent SEC filing.

A number of other large investors have also modified their holdings of FCEL. Rhumbline Advisers grew its stake in FuelCell Energy by 21.1% during the 1st quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock worth $147,000 after purchasing an additional 5,585 shares in the last quarter. Marshall Wace LLP acquired a new stake in FuelCell Energy in the 2nd quarter valued at about $122,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of FuelCell Energy by 6.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 334,793 shares of the energy company’s stock valued at $1,877,000 after buying an additional 19,857 shares during the period. Bank of America Corp DE grew its position in shares of FuelCell Energy by 31.9% during the second quarter. Bank of America Corp DE now owns 18,351 shares of the energy company’s stock worth $103,000 after buying an additional 4,435 shares in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in shares of FuelCell Energy during the second quarter worth about $216,000. Hedge funds and other institutional investors own 42.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FCEL. Jefferies Financial Group set a $7.20 target price on shares of FuelCell Energy and gave the company a “hold” rating in a report on Tuesday, March 10th. Wells Fargo & Company dropped their price objective on shares of FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 10th. Finally, Weiss Ratings upgraded shares of FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a 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 company. According to data from MarketBeat, FuelCell Energy has an average rating of “Reduce” and a consensus price target of $8.24.

FuelCell Energy Price Performance

Shares of FCEL opened at $21.66 on Monday. 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 $1.15 billion, a PE ratio of -3.13 and a beta of 2.42. The company has a debt-to-equity ratio of 0.19, a current ratio of 7.96 and a quick ratio of 6.51. The firm has a fifty day moving average price of $12.47 and a 200 day moving average price of $9.43.

FuelCell Energy (NASDAQ:FCEL) last posted its earnings results on Monday, March 9th. The energy company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.16. The business had revenue of $30.53 million for the quarter, compared to analysts’ expectations of $42.22 million. FuelCell Energy had a negative return on equity of 17.76% and a negative net margin of 107.51%. As a group, sell-side analysts anticipate that FuelCell Energy, Inc. will post -2.18 EPS for the current year.

About FuelCell Energy

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.