FuelCell Energy, Inc. (NASDAQ:FCEL) Sees Large Decline in Short Interest

FuelCell Energy, Inc. (NASDAQ:FCEL) saw a large decline in short interest in September. As of September 15th, there was short interest totalling 120,740,000 shares, a decline of 7.0% from the August 31st total of 129,760,000 shares. Based on an average daily volume of 38,850,000 shares, the short-interest ratio is currently 3.1 days.

Institutional Trading of FuelCell Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in shares of FuelCell Energy by 13.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,571,508 shares of the energy company’s stock worth $5,714,000 after buying an additional 430,184 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of FuelCell Energy by 6.6% in the 4th quarter. BNP Paribas Financial Markets now owns 305,760 shares of the energy company’s stock worth $489,000 after purchasing an additional 18,844 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of FuelCell Energy by 60.8% in the 4th quarter. Allianz Asset Management GmbH now owns 1,488,300 shares of the energy company’s stock valued at $2,381,000 after purchasing an additional 562,800 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in shares of FuelCell Energy by 65.3% during the 4th quarter. Rafferty Asset Management LLC now owns 1,081,062 shares of the energy company’s stock worth $1,730,000 after purchasing an additional 426,984 shares during the period. Finally, Aristides Capital LLC purchased a new position in FuelCell Energy in the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 42.78% of the company’s stock.

FuelCell Energy Trading Down 0.6 %

Shares of FCEL traded down $0.00 on Tuesday, hitting $0.38. 34,037,180 shares of the stock traded hands, compared to its average volume of 31,660,164. FuelCell Energy has a 1 year low of $0.36 and a 1 year high of $1.84. The stock’s 50 day moving average is $0.45 and its two-hundred day moving average is $0.73. The firm has a market capitalization of $187.78 million, a P/E ratio of -1.51 and a beta of 3.87. The company has a quick ratio of 4.97, a current ratio of 6.91 and a debt-to-equity ratio of 0.18.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings data on Thursday, September 5th. The energy company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). The business had revenue of $23.70 million for the quarter, compared to analysts’ expectations of $23.22 million. FuelCell Energy had a negative return on equity of 17.02% and a negative net margin of 135.76%. During the same quarter last year, the firm earned ($0.06) earnings per share. As a group, sell-side analysts predict that FuelCell Energy will post -0.25 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on FCEL shares. UBS Group dropped their target price on shares of FuelCell Energy from $1.35 to $0.50 and set a “neutral” rating for the company in a report on Tuesday, August 6th. B. Riley raised FuelCell Energy to a “hold” rating in a report on Tuesday, June 25th. Finally, Canaccord Genuity Group cut their target price on shares of FuelCell Energy from $1.50 to $1.25 and set a “hold” rating for the company in a research report on Friday, September 6th.

FuelCell Energy Company Profile

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.