Renaissance Technologies LLC Sells 333,000 Shares of FuelCell Energy, Inc. $FCEL

Renaissance Technologies LLC reduced its holdings in FuelCell Energy, Inc. (NASDAQ:FCEL) by 27.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 886,600 shares of the energy company’s stock after selling 333,000 shares during the period. Renaissance Technologies LLC owned approximately 1.67% of FuelCell Energy worth $5,789,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FCEL. Rhumbline Advisers boosted its position in shares of FuelCell Energy by 21.1% in the first quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock valued at $147,000 after acquiring an additional 5,585 shares during the period. Marshall Wace LLP bought a new position in FuelCell Energy during the second quarter worth $122,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in FuelCell Energy by 6.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 334,793 shares of the energy company’s stock worth $1,877,000 after acquiring an additional 19,857 shares during the period. Bank of America Corp DE raised its stake in FuelCell Energy by 31.9% during the 2nd quarter. Bank of America Corp DE now owns 18,351 shares of the energy company’s stock valued at $103,000 after purchasing an additional 4,435 shares during the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in FuelCell Energy during the 2nd quarter valued at $216,000. 42.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FCEL has been the topic of several research analyst reports. TD Cowen restated a “hold” rating and issued a $16.00 price target (up from $9.00) on shares of FuelCell Energy in a research report on Tuesday, June 9th. Jefferies Financial Group raised shares of FuelCell Energy from a “hold” rating to a “buy” rating and upped their price objective for the company from $16.00 to $24.00 in a research report on Friday, June 26th. Canaccord Genuity Group increased their target price on shares of FuelCell Energy from $12.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. B. Riley Financial raised FuelCell Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $32.00 in a research report on Monday, June 29th. Finally, Weiss Ratings upgraded FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.83.

Insider Activity

In other news, EVP Shankar Achanta sold 2,500 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $28.71, for a total value of $71,775.00. Following the sale, the executive vice president owned 2,618 shares in the company, valued at approximately $75,162.78. The trade was a 48.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.46% of the company’s stock.

FuelCell Energy Trading Down 5.7%

Shares of FCEL opened at $21.21 on Thursday. FuelCell Energy, Inc. has a 1 year low of $3.78 and a 1 year high of $37.88. The company has a current ratio of 8.59, a quick ratio of 7.20 and a debt-to-equity ratio of 0.18. The stock has a 50 day simple moving average of $22.07 and a 200-day simple moving average of $14.29. The stock has a market cap of $1.70 billion, a PE ratio of -3.23 and a beta of 2.37.

FuelCell Energy (NASDAQ:FCEL) last announced its quarterly earnings results on Monday, June 8th. The energy company reported ($0.53) EPS for the quarter, missing the consensus estimate of $0.52 by ($1.05). FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. The company had revenue of $35.59 million during the quarter, compared to analyst estimates of $40.47 million. During the same period in the prior year, the firm earned ($1.79) EPS. On average, sell-side analysts predict that FuelCell Energy, Inc. will post -1.73 EPS for the current fiscal year.

About FuelCell Energy

FuelCell Energy, Inc (NASDAQ: FCEL) is a publicly traded company that designs, manufactures and operates turnkey molten carbonate fuel cell power plants. These stationary, on-site energy solutions generate electricity and heat through an electrochemical process that combines natural gas or biogas with oxygen, producing power with lower greenhouse gas emissions than traditional fossil fuel-based generation. The company’s fuel cell technology is engineered for continuous, baseload operation and can be integrated into microgrid architectures and industrial power systems to provide reliable, around-the-clock energy.

The company’s core product suite, marketed under the SureSource brand, encompasses both power generation and integrated carbon capture or hydrogen production capabilities.