Penserra Capital Management LLC Raises Stock Holdings in FuelCell Energy, Inc. (NASDAQ:FCEL)

Penserra Capital Management LLC lifted its holdings in shares of FuelCell Energy, Inc. (NASDAQ:FCEL) by 167.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,802 shares of the energy company’s stock after purchasing an additional 122,638 shares during the quarter. Penserra Capital Management LLC’s holdings in FuelCell Energy were worth $898,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of FCEL. Canada Pension Plan Investment Board bought a new stake in FuelCell Energy in the 4th quarter worth approximately $30,000. Rhumbline Advisers lifted its position in FuelCell Energy by 21.1% in the 1st quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock worth $147,000 after buying an additional 5,585 shares during the last quarter. Bank of New York Mellon Corp lifted its position in FuelCell Energy by 18.6% in the 1st quarter. Bank of New York Mellon Corp now owns 51,764 shares of the energy company’s stock worth $238,000 after buying an additional 8,121 shares during the last quarter. GAMMA Investing LLC lifted its position in FuelCell Energy by 451.5% in the 1st quarter. GAMMA Investing LLC now owns 12,398 shares of the energy company’s stock worth $57,000 after buying an additional 10,150 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in FuelCell Energy in the 4th quarter worth approximately $99,000. Hedge funds and other institutional investors own 42.78% of the company’s stock.

FuelCell Energy Stock Performance

Shares of FCEL stock opened at $5.60 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.82 and a current ratio of 5.62. FuelCell Energy, Inc. has a fifty-two week low of $3.58 and a fifty-two week high of $21.60. The stock has a 50 day moving average price of $5.28 and a two-hundred day moving average price of $6.33. The company has a market capitalization of $127.62 million, a P/E ratio of -0.74 and a beta of 4.09.

FuelCell Energy (NASDAQ:FCEL) last announced its quarterly earnings data on Friday, June 6th. The energy company reported ($1.79) earnings per share for the quarter, missing the consensus estimate of ($1.51) by ($0.28). FuelCell Energy had a negative net margin of 108.52% and a negative return on equity of 21.16%. The company had revenue of $37.41 million during the quarter, compared to the consensus estimate of $32.42 million. During the same quarter in the previous year, the firm posted ($2.10) EPS. Analysts expect that FuelCell Energy, Inc. will post -6.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, B. Riley dropped their target price on FuelCell Energy from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, June 13th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9.86.

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.