BlackRock Fund Advisors recently announced the acquisition of new stake in FuelCell Energy Inc. (NASDAQ:FCEL). The institutional investor has increased its shareholding in the Industrials company by 308.95% to 13.7 million shares with purchase of 10.35 million shares. This fresh investment now brings its stake to 6.29% valued currently at $30.54 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.41 million to 9.55 million shares. And SSgA Funds Management, Inc. has lifted its position by 98.06% or 2.42 million shares – to 4.89 million shares.
With over 13.36 million FuelCell Energy Inc. (FCEL) shares trading Friday and a closing price of $2.92 on the day, the dollar volume was approximately $39.0 million. The shares have shown a positive weekly performance of 6.96% and its price on 08/21/20 lost nearly -1.35%. Currently, there are 211.00M common shares owned by the public and among those 205.69M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for FCEL have a consensus price objective of $2.42. The analysts have set the share’s price value over the next 12 months at a high of $3.00 and a low of $1.50 should the stock experience a downside. Incidentally, analysts’ outlook for the FuelCell Energy Inc. stock is 3.20 for the next 12 months. The average price target is -20.66% below its last price level and a downside to the estimated low will see the stock lose -94.67% over that period. But an upside of 2.67% will see the stock hit the forecast high price target while mean target price for the stock is $2.75.
Insiders at the company have transacted a total of 35 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 21 of these insider trades were purchases, accounting for 202,562 shares. Insider sales of the common stock occurred on 14 occasions, with total insider shares sold totaling 17,481 shares.
The top 3 mutual fund holders in FuelCell Energy Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Invesco WilderHill Clean Energy E. Vanguard Total Stock Market Index owns 5.65 million shares of the company’s stock, all valued at over $12.6 million. The company bought an additional 1826.0 shares recently to bring their total holdings to about 2.59% of the shares outstanding. iShares Russell 2000 ETF sold -0.2 million shares to see its total holdings shrink to 4.36 million shares valued at over $9.71 million and representing 2.00% of the shares outstanding. Invesco WilderHill Clean Energy E bought 21474.0 shares to bring its total holdings to over 4.17 million shares at a value of $9.31 million. Invesco WilderHill Clean Energy E now owns shares totaling to 1.92% of the shares outstanding.
Shares of FuelCell Energy Inc. (NASDAQ: FCEL) opened at $2.95, down -$0.01 from a prior closing price of $2.96. However, the script later closed the day at $2.92, down -1.35%. The company’s stock has a 5-day price change of 6.96% and 47.47% over the past three months. FCEL shares are trading 16.33% year to date (YTD), with the 12-month market performance up to 746.38% higher. It has a 12-month low price of $0.23 and touched a high of $3.50 over the same period. Currently, 13.36 million shares have been traded, compared to an average intraday trading volume of 16.39 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 10.17%, 11.28%, and 56.16% respectively.
Institutional ownership of FuelCell Energy Inc. (NASDAQ: FCEL) shares accounts for 26.00% of the company’s 211.00M shares outstanding. Mutual fund holders own 12.79%, while other institutional holders and individual stakeholders account for 13.00% and 0.08% respectively.
It has a market capitalization of $645.00M and a beta (3y monthly) value of 2.14. The earnings-per-share (ttm) stands at -$1.54. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.51% over the week and 8.60% over the month.
Analysts forecast that FuelCell Energy Inc. (FCEL) will achieve an EPS of -$0.06 for the current quarter, -$0.06 for the next quarter and -$0.26 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.07 while analysts give the company a high EPS estimate of -$0.06. Comparatively, EPS for the current quarter was -$0.18 a year ago. Earnings per share for the fiscal year are expected to increase by 80.10%, and 35.00% over the next financial year. EPS should shrink at an annualized rate of 15.00% over the next five years, compared to 40.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate FuelCell Energy Inc. (FCEL) as a “Hold” at a consensus score of 3.20. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 3 of the 4 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the FCEL, a number of firms have released research notes about the stock. Craig Hallum stated their Sell rating for the stock in a research note on June 12, 2020, with the firm’s price target at. Craig Hallum coverage for the FuelCell Energy Inc. (FCEL) stock in a research note released on March 16, 2020 offered a Hold rating with a price target of. Craig Hallum was of a view on January 23, 2020 that the stock is Sell, while Oppenheimer gave the stock Perform rating on June 06, 2019, issuing a price target of. Cowen on their part issued Market Perform rating on June 06, 2019.