Charles Schwab Investment Management Inc. Sells 3,810,517 Shares of FuelCell Energy, Inc. (NASDAQ:FCEL)

Charles Schwab Investment Management Inc. lessened its stake in shares of FuelCell Energy, Inc. (NASDAQ:FCEL) by 95.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 167,318 shares of the energy company’s stock after selling 3,810,517 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in FuelCell Energy were worth $1,513,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FCEL. Integrated Wealth Concepts LLC grew its stake in FuelCell Energy by 7.5% during the third quarter. Integrated Wealth Concepts LLC now owns 74,021 shares of the energy company’s stock valued at $28,000 after acquiring an additional 5,150 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in FuelCell Energy in the 3rd quarter worth approximately $90,000. JPMorgan Chase & Co. boosted its holdings in FuelCell Energy by 35.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 545,894 shares of the energy company’s stock valued at $207,000 after purchasing an additional 143,786 shares during the period. Rockefeller Capital Management L.P. grew its position in shares of FuelCell Energy by 4.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 548,404 shares of the energy company’s stock valued at $208,000 after purchasing an additional 22,153 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of FuelCell Energy by 13.9% in the third quarter. Geode Capital Management LLC now owns 12,014,243 shares of the energy company’s stock worth $4,567,000 after purchasing an additional 1,466,442 shares during the period. 42.78% of the stock is currently owned by institutional investors.

FuelCell Energy Stock Performance

Shares of FuelCell Energy stock opened at $4.70 on Friday. The business has a fifty day simple moving average of $6.82 and a two-hundred day simple moving average of $9.23. The firm has a market capitalization of $99.38 million, a P/E ratio of -0.59 and a beta of 3.71. The company has a current ratio of 6.01, a quick ratio of 4.48 and a debt-to-equity ratio of 0.20. FuelCell Energy, Inc. has a 12 month low of $4.65 and a 12 month high of $37.20.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings results on Tuesday, March 11th. The energy company reported ($1.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.52) by $0.10. The company had revenue of $19.00 million during the quarter, compared to analysts’ expectations of $35.37 million. FuelCell Energy had a negative net margin of 113.09% and a negative return on equity of 18.58%. During the same period last year, the company posted ($1.25) EPS. On average, equities analysts forecast that FuelCell Energy, Inc. will post -6.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FCEL shares. TD Cowen lifted their price objective on FuelCell Energy from $2.00 to $12.00 and gave the company a “hold” rating in a research note on Friday, December 20th. Canaccord Genuity Group reiterated a “hold” rating and set a $12.00 price target on shares of FuelCell Energy in a research report on Friday, December 20th. UBS Group decreased their price objective on shares of FuelCell Energy from $15.00 to $13.75 and set a “neutral” rating on the stock in a research report on Tuesday, December 3rd. Jefferies Financial Group dropped their target price on shares of FuelCell Energy from $15.00 to $8.40 and set a “hold” rating for the company in a research report on Friday, December 20th. Finally, B. Riley cut their price target on shares of FuelCell Energy from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.03.

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.