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

FuelCell Energy, Inc. (NASDAQ:FCEL) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 4,370,000 shares, a decrease of 96.5% from the October 15th total of 124,320,000 shares. Based on an average daily volume of 895,300 shares, the days-to-cover ratio is presently 4.9 days. Approximately 21.5% of the shares of the stock are sold short.

Institutional Investors Weigh In On FuelCell Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Algert Global LLC acquired a new stake in shares of FuelCell Energy in the second quarter valued at approximately $29,000. AQR Capital Management LLC increased its holdings in shares of FuelCell Energy by 106.0% in the second quarter. AQR Capital Management LLC now owns 50,952 shares of the energy company’s stock valued at $33,000 after purchasing an additional 26,223 shares during the last quarter. SageView Advisory Group LLC acquired a new stake in shares of FuelCell Energy in the first quarter valued at approximately $41,000. Bogart Wealth LLC increased its holdings in shares of FuelCell Energy by 21,285.7% in the third quarter. Bogart Wealth LLC now owns 112,275 shares of the energy company’s stock valued at $43,000 after purchasing an additional 111,750 shares during the last quarter. Finally, Banque Cantonale Vaudoise grew its position in FuelCell Energy by 42.0% in the third quarter. Banque Cantonale Vaudoise now owns 122,096 shares of the energy company’s stock worth $46,000 after acquiring an additional 36,120 shares during the period. Institutional investors and hedge funds own 42.78% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on FCEL. Canaccord Genuity Group reduced their price target on FuelCell Energy from $45.00 to $37.50 and set a “hold” rating for the company in a report on Friday, September 6th. StockNews.com initiated coverage on FuelCell Energy in a report on Tuesday. They set a “sell” rating for the company. Finally, UBS Group reduced their target price on FuelCell Energy from $40.50 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th.

FuelCell Energy Trading Down 14.7 %

Shares of FuelCell Energy stock opened at $5.70 on Wednesday. The business has a 50 day simple moving average of $11.10 and a two-hundred day simple moving average of $16.95. FuelCell Energy has a 12 month low of $5.66 and a 12 month high of $55.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.91 and a quick ratio of 4.97.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings results on Thursday, September 5th. The energy company reported ($2.10) EPS for the quarter, meeting the consensus estimate of ($2.10). FuelCell Energy had a negative return on equity of 17.02% and a negative net margin of 135.76%. The firm had revenue of $23.70 million during the quarter, compared to analysts’ expectations of $23.22 million. During the same quarter last year, the firm earned ($1.80) earnings per share. As a group, equities research analysts anticipate that FuelCell Energy will post -7.21 EPS for the current year.

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.