Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Raises Stake in FuelCell Energy, Inc. (NASDAQ:FCEL)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of FuelCell Energy, Inc. (NASDAQ:FCEL) by 24.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 459,190 shares of the energy company’s stock after buying an additional 89,562 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned 0.11% of FuelCell Energy worth $992,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. boosted its stake in shares of FuelCell Energy by 3.0% in the first quarter. BlackRock Inc. now owns 39,489,202 shares of the energy company’s stock worth $112,544,000 after buying an additional 1,142,989 shares during the last quarter. Vanguard Group Inc. boosted its position in FuelCell Energy by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 34,242,401 shares of the energy company’s stock worth $116,766,000 after purchasing an additional 1,902,915 shares in the last quarter. State Street Corp grew its stake in shares of FuelCell Energy by 3.6% during the 1st quarter. State Street Corp now owns 13,302,334 shares of the energy company’s stock worth $37,912,000 after purchasing an additional 465,165 shares during the period. Geode Capital Management LLC increased its holdings in shares of FuelCell Energy by 5.3% during the 1st quarter. Geode Capital Management LLC now owns 8,161,421 shares of the energy company’s stock valued at $23,260,000 after purchasing an additional 410,226 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of FuelCell Energy by 15.2% in the 4th quarter. Legal & General Group Plc now owns 7,472,349 shares of the energy company’s stock valued at $20,773,000 after purchasing an additional 988,556 shares during the period. 47.90% of the stock is currently owned by institutional investors and hedge funds.

FuelCell Energy Stock Performance

NASDAQ:FCEL opened at $1.24 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.27 and a current ratio of 8.72. The stock has a market capitalization of $504.38 million, a PE ratio of -4.00 and a beta of 3.69. FuelCell Energy, Inc. has a fifty-two week low of $0.98 and a fifty-two week high of $4.36. The company has a fifty day moving average of $1.20 and a two-hundred day moving average of $1.76.

FuelCell Energy (NASDAQ:FCEL) last released its quarterly earnings results on Monday, September 11th. The energy company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. FuelCell Energy had a negative net margin of 85.40% and a negative return on equity of 17.59%. The firm had revenue of $25.50 million during the quarter, compared to the consensus estimate of $27.68 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. The company’s revenue for the quarter was down 40.8% on a year-over-year basis. As a group, research analysts forecast that FuelCell Energy, Inc. will post -0.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FCEL has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of FuelCell Energy from $1.50 to $1.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 12th. Canaccord Genuity Group cut their price target on FuelCell Energy from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Wednesday, September 13th.

FuelCell Energy Profile

FuelCell Energy, Inc, together with its subsidiaries, manufactures and sells stationary fuel cell energy platforms that decarbonize power and produce hydrogen. It offers SureSource 1500, a 1.4-megawatt (MW) platform; SureSource 3000, a 2.8 MW platform; SureSource 4000, a 3.7 MW platform; SureSource 250, a 250- kilowatt (kW) platform; SureSource 400, a 400-kW platform; and SureSource Hydrogen, a 2.3 MW platform that is designed to produce up to 1,200 kilograms of hydrogen per day for multi-megawatt utility, microgrid, and distributed hydrogen applications, as well as on-site heat and chilling applications.