5 Best Green Energy Penny Stocks to Buy Now

4. FuelCell Energy, Inc. (NASDAQ:FCEL)

Number of hedge fund holders: 10

FuelCell Energy, Inc. (NASDAQ:FCEL) is a green energy company that manufactures, sells, and operates stationary fuel cell power plants. The company has also signed a joint development agreement with Exxon Mobil Corporation (NYSE:XOM) for a carbon capture and storage project.

FuelCell Energy, Inc. (NASDAQ:FCEL) reported its second quarter 2023 earnings on June 8. The company generated a revenue of $38.3 million in the period, up 134% YoY and outperformed the estimates by $11.52 million. However, the company’s net loss of $0.09 per share missed the analyst estimates by one cent.

FuelCell Energy, Inc. (NASDAQ:FCEL)’s stake was held by 10 hedge funds in the first quarter of 2023. D E Shaw increased its shares in the company by 44% in Q1 to 14.458 million shares worth over $41.2 million.

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