The Vanguard Group, Inc. 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 7.68% to 40.3 million shares with purchase of 2.88 million shares. This fresh investment now brings its stake to 8.94% valued currently at $49.17 million. In addition, Invesco Capital Management LLC raised its holdings by 1.89 million to 7.57 million shares. And Two Sigma Investments LP has lifted its position by 86.32% or 2.16 million shares – to 4.66 million shares.
With over 31.95 million Fuelcell Energy Inc (FCEL) shares trading Friday and a closing price of $1.54 on the day, the dollar volume was approximately $49.2 million. The shares have shown a negative half year performance of -39.84% and its price on 12/15/23 lost nearly -1.28%. Currently, there are 450.63M common shares owned by the public and among those 449.25M shares have been available to trade.
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Insiders at the company have transacted a total of 26 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 616,621 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 265,922 shares.
The top 3 mutual fund holders in Fuelcell Energy Inc are L&G Hydrogen Economy UCITS ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. L&G Hydrogen Economy UCITS ETF owns 17.53 million shares of the company’s stock, all valued at over $21.39 million. Vanguard Total Stock Market ETF bought 0.49 million shares to see its total holdings expand to 14.14 million shares valued at over $17.25 million and representing 3.14% of the shares outstanding. Vanguard Small Cap Index Fund bought 5636.0 shares to bring its total holdings to over 11.57 million shares at a value of $14.11 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.57% of the shares outstanding.
Shares of Fuelcell Energy Inc (NASDAQ: FCEL) opened at $1.58, up $0.02 from a prior closing price of $1.56. However, the script later moved the day high at 1.6000, down -1.28%. The company’s stock has a 5-day price change of 19.38% and 31.62% over the past three months. FCEL shares are trading -44.60% year to date (YTD), with the 12-month market performance down to -58.60% lower. It has a 12-month low price of $0.98 and touched a high of $4.36 over the same period. FCEL has an average intraday trading volume of 11.42 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 22.32%, 26.79%, and -19.14% respectively.
Institutional ownership of Fuelcell Energy Inc (NASDAQ: FCEL) shares accounts for 44.27% of the company’s 450.63M shares outstanding. Mutual fund holders own 16.12%, while other institutional holders and individual stakeholders account for 28.53% and 0.34% respectively.
It has a market capitalization of $693.97M and a beta (3y monthly) value of 3.61. The earnings-per-share (ttm) stands at -$0.30. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.95% over the week and 8.45% over the month.
Analysts forecast that Fuelcell Energy Inc (FCEL) will achieve an EPS of $Atreca, Inc. for the current quarter, $0.27 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Avita Medical, Inc. while analysts give the company a high EPS estimate of $Vericel Corporation. Comparatively, EPS for the current quarter was $Fidelity MSCI Real Estate Index a year ago. Earnings per share for the fiscal year are expected to increase by 26.84%, and -5.88% over the next financial year. EPS should shrink at an annualized rate of 15.00% over the next five years, compared to 51.14% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate Fuelcell Energy Inc (FCEL) as a “Hold” at a consensus score of 3.20. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 7 of the 10 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the FCEL, a number of firms have released research notes about the stock. Jefferies stated their Hold rating for the stock in a research note on September 14, 2023, with the firm’s price target at $2.75-$1.50.
