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 5.93% to 33.36 million shares with purchase of 1.87 million shares. This fresh investment now brings its stake to 8.23% valued currently at $104.07 million. In addition, BlackRock Fund Advisors raised its holdings by 0.17 million to 28.14 million shares. And SSgA Funds Management, Inc. has lifted its position by 2.55% or 0.27 million shares – to 10.86 million shares.
With over 10.12 million FuelCell Energy Inc. (FCEL) shares trading Friday and a closing price of $3.57 on the day, the dollar volume was approximately $36.12 million. Currently, there are 405.56M common shares owned by the public and among those 404.88M 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: 11 analysts who have offered their price forecasts for FCEL have a consensus price objective of $3.48. The analysts have set the share’s price value over the next 12 months at a high of $5.00 and a low of $2.00. The average price target is -2.59% below its recent price level and a downside to the estimated low will see the stock lose -78.5% over that period. But an upside of 28.6% will see the stock hit the forecast high price target while median target price for the stock is $3.10.
Insiders at the company have transacted a total of 29 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 892,379 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 395,461 shares.
The top 3 mutual fund holders in FuelCell Energy Inc. are Vanguard Total Stock Market Index, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market Index owns 11.1 million shares of the company’s stock, all valued at over $34.63 million. Vanguard Small Cap Index Fund bought 0.13 million shares to see its total holdings expand to 9.45 million shares valued at over $29.5 million and representing 2.33% of the shares outstanding. iShares Russell 2000 ETF sold -0.16 million shares to bring its total holdings to over 8.59 million shares at a value of $26.8 million. iShares Russell 2000 ETF now owns shares totaling to 2.12% of the shares outstanding.
Shares of FuelCell Energy Inc. (NASDAQ: FCEL) opened at $3.67, up $0.1 from a prior closing price of $3.57. The company’s stock has a 5-day price change of -1.92% and -10.97% over the past three months. FCEL shares are trading -31.35% year to date (YTD), with the 12-month market performance down to -62.26% lower. It has a 12-month low price of $2.77 and touched a high of $10.26 over the same period. FCEL has an average intraday trading volume of 10.69 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 9.96%, 4.36%, and -16.17% respectively.
Institutional ownership of FuelCell Energy Inc. (NASDAQ: FCEL) shares accounts for 44.80% of the company’s 405.56M shares outstanding. Mutual fund holders own 18.11%, while other institutional holders and individual stakeholders account for 26.89% and 0.18% respectively.
It has a market capitalization of $1.45B and a beta (3y monthly) value of 3.62. The earnings-per-share (ttm) stands at -$0.34. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.91% over the week and 7.32% over the month.
Analysts forecast that FuelCell Energy Inc. (FCEL) will achieve an EPS of -$0.07 for the current quarter, -$0.06 for the next quarter and -$0.22 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.09 while analysts give the company a high EPS estimate of -$0.04. Comparatively, EPS for the current quarter was -$0.07 a year ago. Earnings per share for the fiscal year are expected to increase by 25.20%, and 20.70% over the next financial year. EPS should shrink at an annualized rate of 15.00% over the next five years, compared to 57.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 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 9 of the 11 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 October 19, 2022, with the firm’s price target at $3. KeyBanc Capital Markets was of a view on January 05, 2022 that the stock is Sector Weight, while Craig Hallum gave the stock Hold rating on December 29, 2021, issuing a price target of $5. Wells Fargo on their part issued Underweight rating on April 20, 2021.