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 8.92% valued currently at $64.48 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 10.96 million Fuelcell Energy Inc (FCEL) shares trading Friday and a closing price of $1.21 on the day, the dollar volume was approximately $13.26 million. The shares have shown a negative half year performance of -45.25% and its price on 01/12/24 lost nearly -3.20%. Currently, there are 451.80M common shares owned by the public and among those 450.40M 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 iShares Russell 2000 ETF. L&G Hydrogen Economy UCITS ETF owns 17.24 million shares of the company’s stock, all valued at over $27.58 million. iShares Russell 2000 ETF sold 32292.0 shares to bring its total holdings to over 12.2 million shares at a value of $19.51 million. iShares Russell 2000 ETF now owns shares totaling to 2.70% of the shares outstanding.
The company’s stock has a 5-day price change of -13.57% and -6.20% over the past three months. FCEL shares are trading -24.37% year to date (YTD), with the 12-month market performance down to -61.09% 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 13.34 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 -19.79%, -8.39%, and -31.35% respectively.
Institutional ownership of Fuelcell Energy Inc (NASDAQ: FCEL) shares accounts for 44.10% of the company’s 451.80M shares outstanding. Mutual fund holders own 15.46%, while other institutional holders and individual stakeholders account for 29.01% and 0.34% respectively.
It has a market capitalization of $546.68M and a beta (3y monthly) value of 3.80. The earnings-per-share (ttm) stands at -$0.26. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.79% over the week and 8.61% over the month.
Analysts forecast that Fuelcell Energy Inc (FCEL) will achieve an EPS of -$0.07 for the current quarter, -$0.08 for the next quarter and -$0.28 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.09 while analysts give the company a high EPS estimate of -$0.05. Comparatively, EPS for the current quarter was -$0.05 a year ago. Earnings per share for the fiscal year are expected to decrease by -13.68%, and 19.71% over the next financial year. EPS should shrink at an annualized rate of 15.00% over the next five years, compared to 50.65% 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 3.30. Specifically, 0 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.
