Short Interest in FuelCell Energy, Inc. (NASDAQ:FCEL) Grows By 6.0%

FuelCell Energy, Inc. (NASDAQ:FCEL) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 109,580,000 shares, a growth of 6.0% from the May 31st total of 103,340,000 shares. Based on an average daily trading volume, of 42,080,000 shares, the short-interest ratio is presently 2.6 days.

FuelCell Energy Price Performance

Shares of FuelCell Energy stock traded up $0.06 on Wednesday, hitting $0.66. 31,236,666 shares of the company traded hands, compared to its average volume of 28,545,211. FuelCell Energy has a 12-month low of $0.60 and a 12-month high of $2.54. The firm’s 50-day simple moving average is $0.82 and its 200 day simple moving average is $1.10. The company has a market cap of $328.05 million, a P/E ratio of -2.60 and a beta of 3.91. The company has a current ratio of 6.55, a quick ratio of 4.80 and a debt-to-equity ratio of 0.20.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings data on Monday, June 10th. The energy company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $22.42 million during the quarter, compared to analysts’ expectations of $22.12 million. FuelCell Energy had a negative return on equity of 15.66% and a negative net margin of 123.30%. During the same period in the prior year, the business earned ($0.09) EPS. Analysts expect that FuelCell Energy will post -0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FuelCell Energy

A number of hedge funds have recently made changes to their positions in FCEL. Vanguard Group Inc. raised its position in FuelCell Energy by 7.5% in the 3rd quarter. Vanguard Group Inc. now owns 40,976,982 shares of the energy company’s stock worth $52,451,000 after purchasing an additional 2,873,655 shares during the period. Invesco Ltd. increased its holdings in shares of FuelCell Energy by 33.0% in the third quarter. Invesco Ltd. now owns 7,579,525 shares of the energy company’s stock worth $9,702,000 after buying an additional 1,880,397 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of FuelCell Energy by 130.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,576,467 shares of the energy company’s stock valued at $4,122,000 after acquiring an additional 1,456,826 shares during the last quarter. Caxton Associates LP boosted its holdings in FuelCell Energy by 212.0% during the 4th quarter. Caxton Associates LP now owns 1,457,980 shares of the energy company’s stock valued at $2,333,000 after acquiring an additional 990,648 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in FuelCell Energy by 66.0% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,443,666 shares of the energy company’s stock worth $1,718,000 after acquiring an additional 574,042 shares during the last quarter. 42.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, B. Riley upgraded FuelCell Energy to a “hold” rating in a research report on Tuesday, June 25th.

About FuelCell Energy

FuelCell Energy, Inc, together with its subsidiaries, manufactures and sells stationary fuel cell and electrolysis platforms that decarbonize power and produce hydrogen. The company provides various configurations and applications of its platform, including on-site power, utility grid support, and microgrid, as well as distributed hydrogen; solid oxide-based electrolysis; solutions for long duration hydrogen-based energy storage and electrolysis technology; and carbon capture, separation, and utilization systems.