State of New Jersey Common Pension Fund D has acquired a stake in FuelCell Energy, Inc. during the first quarter of this year. The firm purchased 688,872 shares of the company’s stock, valued at approximately $1,963,000.
Other hedge funds and institutional investors have also recently increased or decreased their stakes in FuelCell Energy. JPMorgan Chase & Co. grew its position by 3.8% in the first quarter, Raymond James & Associates increased its position by 203.1%, Bank of New York Mellon Corp grew its position by 3.4%, Private Advisor Group LLC grew its position by 134.3%, and MetLife Investment Management LLC grew its position by 50.4%. In total, institutional investors and hedge funds now own 46.99% of the company’s stock.
FuelCell Energy stock performance has seen fluctuations. It opened at $2.26 on Friday. The company has a current ratio of 7.22 and a quick ratio of 5.83. It has a twelve month low of $1.77 and a twelve month high of $5.50. FuelCell Energy has a market capitalization of $919.28 million and a PE ratio of -6.85. Its 50-day moving average price is $2.28 and its 200-day moving average price is $2.72.
FuelCell Energy reported a negative EPS of ($0.09) for the quarter, missing analysts’ consensus estimates. The firm had revenue of $38.40 million for the quarter, up 134.1% compared to the same period last year. Sell-side analysts expect that FuelCell Energy, Inc. will post -0.3 EPS for the current fiscal year.
FuelCell Energy, Inc. manufactures and sells stationary fuel cell energy platforms that decarbonize power and produce hydrogen. Their platforms range from 250-kilowatt to 3.7-megawatt capacities and are designed for various applications, including multi-megawatt utility, microgrid, distributed hydrogen, and on-site heat and chilling applications.
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