Unusual Call Option Trade in FuelCell Energy Worth $90.3K

On May 11, 2023 at 12:50:11 ET an unusually large $90.30K block of Call contracts in Fuelcell Energy (FCEL) was sold, with a strike price of $1.00 / share, expiring in 253 day(s) (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 3.15 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in FCEL options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 429 funds or institutions reporting positions in Fuelcell Energy. This is an increase of 9 owner(s) or 2.14% in the last quarter. Average portfolio weight of all funds dedicated to FCEL is 0.18%, an increase of 131.12%. Total shares owned by institutions increased in the last three months by 4.21% to 193,255K shares. The put/call ratio of FCEL is 0.24, indicating a bullish outlook.

Analyst Price Forecast Suggests 45.68% Upside

As of May 11, 2023, the average one-year price target for Fuelcell Energy is 3.32. The forecasts range from a low of 2.02 to a high of $4.20. The average price target represents an increase of 45.68% from its latest reported closing price of 2.28.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Fuelcell Energy is 146MM, an increase of 7.73%. The projected annual non-GAAP EPS is -0.24.

What are Other Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 12,562K shares representing 3.10% ownership of the company. In it’s prior filing, the firm reported owning 11,099K shares, representing an increase of 11.65%. The firm decreased its portfolio allocation in FCEL by 14.79% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 10,449K shares representing 2.58% ownership of the company. In it’s prior filing, the firm reported owning 9,326K shares, representing an increase of 10.75%. The firm decreased its portfolio allocation in FCEL by 15.43% over the last quarter.

D. E. Shaw holds 10,073K shares representing 2.48% ownership of the company. In it’s prior filing, the firm reported owning 8,774K shares, representing an increase of 12.90%. The firm decreased its portfolio allocation in FCEL by 13.38% over the last quarter.

IWM – iShares Russell 2000 ETF holds 9,375K shares representing 2.31% ownership of the company. In it’s prior filing, the firm reported owning 8,504K shares, representing an increase of 9.29%. The firm decreased its portfolio allocation in FCEL by 18.60% over the last quarter.

Geode Capital Management holds 7,751K shares representing 1.91% ownership of the company. In it’s prior filing, the firm reported owning 7,269K shares, representing an increase of 6.22%. The firm decreased its portfolio allocation in FCEL by 19.57% over the last quarter.

Fuelcell Energy Background Information
(This description is provided by the company.)

FuelCell Energy, Inc. is a global leader in sustainable clean energy technologies that address some of the world’s most critical challenges around energy, safety and global urbanization. As a leading global manufacturer of proprietary fuel cell technology platforms, FuelCell Energy is uniquely positioned to serve customers worldwide with sustainable products and solutions for businesses, utilities, governments and municipalities. Its solutions are designed to enable a world empowered by clean energy, enhancing the quality of life for people around the globe. It targets large-scale power users with its megawatt-class installations globally, and currently offers sub-megawatt solutions for smaller power consumers in Europe. To provide a frame of reference, one megawatt is adequate to continually power approximately 1,000 average sized U.S. homes. It develops turn-key distributed power generation solutions and operate and provide comprehensive service for the life of the power plant. Its fuel cell solution is a clean, efficient alternative to traditional combustion-based power generation, and is complementary to an energy mix consisting of intermittent sources of energy, such as solar and wind turbines. Its customer base includes utility companies, municipalities, universities, hospitals, government entities/military bases and a variety of industrial and commercial enterprises. Its leading geographic markets are currently the United States and South Korea, and it is pursuing opportunities in other countries around the world. FuelCell Energy, based in Connecticut, was founded in 1969.

See all Fuelcell Energy regulatory filings.

This article originally appeared on Fintel

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