Toroso Investments LLC Has $930,000 Stock Position in FuelCell Energy, Inc. (NASDAQ:FCEL)

Posted March 19, 2023

In Uncategorized

Toroso Investments LLC lowered its stake in FuelCell Energy, Inc. (NASDAQ:FCEL – Get Rating) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 272,795 shares of the energy company’s stock after selling 13,114 shares during the quarter. Toroso Investments LLC owned about 0.07% of FuelCell Energy worth $930,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in FCEL. Legal & General Group Plc lifted its stake in shares of FuelCell Energy by 89.0% in the 2nd quarter. Legal & General Group Plc now owns 6,288,884 shares of the energy company’s stock valued at $23,584,000 after purchasing an additional 2,961,338 shares during the period. Millennium Management LLC lifted its stake in shares of FuelCell Energy by 100.6% in the 2nd quarter. Millennium Management LLC now owns 4,067,105 shares of the energy company’s stock valued at $15,252,000 after purchasing an additional 2,039,491 shares during the period. Barclays PLC lifted its stake in shares of FuelCell Energy by 352.6% in the 3rd quarter. Barclays PLC now owns 2,538,426 shares of the energy company’s stock valued at $8,656,000 after purchasing an additional 1,977,523 shares during the period. Allianz Asset Management GmbH raised its stake in FuelCell Energy by 85.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 4,192,900 shares of the energy company’s stock worth $14,298,000 after buying an additional 1,935,600 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in FuelCell Energy by 5.9% during the third quarter. Vanguard Group Inc. now owns 34,242,401 shares of the energy company’s stock worth $116,766,000 after acquiring an additional 1,902,915 shares in the last quarter. Institutional investors and hedge funds own 42.83% of the company’s stock.

FuelCell Energy Trading Down 5.2 %

Shares of FCEL opened at $2.93 on Friday. The company has a quick ratio of 6.41, a current ratio of 7.94 and a debt-to-equity ratio of 0.12. FuelCell Energy, Inc. has a twelve month low of $2.47 and a twelve month high of $7.04. The firm’s 50 day moving average price is $3.43 and its two-hundred day moving average price is $3.38.

FuelCell Energy (NASDAQ:FCEL – Get Rating) last announced its quarterly earnings results on Thursday, March 9th. The energy company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. FuelCell Energy had a negative net margin of 88.92% and a negative return on equity of 17.49%. The firm had revenue of $37.10 million for the quarter, compared to analyst estimates of $25.24 million. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. The business’s revenue was up 16.7% on a year-over-year basis. As a group, research analysts forecast that FuelCell Energy, Inc. will post -0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. UBS Group initiated coverage on FuelCell Energy in a research report on Tuesday, December 13th. They set a “neutral” rating and a $3.85 price target on the stock. B. Riley cut their price target on shares of FuelCell Energy from $5.00 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 21st. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, FuelCell Energy has a consensus rating of “Hold” and an average target price of $3.46.

FuelCell Energy Company Profile

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FuelCell Energy, Inc engages in the development, design, production, construction and servicing of high temperature fuel cells for clean electric power generation. It develops turn-key distributed power generation solutions and provides comprehensive services for the life of the power plant. The firm’s fuel cell solution is an alternative to traditional combustion-based power generation and is complementary to an energy mix consisting of intermittent sources of energy, such as solar and wind turbines.