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

FuelCell Energy, Inc. (NASDAQ:FCEL) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 4,370,000 shares, a decline of 96.5% from the October 15th total of 124,320,000 shares. Currently, 21.5% of the company’s stock are short sold. Based on an average trading volume of 895,300 shares, the short-interest ratio is presently 4.9 days.

Institutional Trading of FuelCell Energy

A number of hedge funds have recently modified their holdings of the stock. Penserra Capital Management LLC boosted its stake in shares of FuelCell Energy by 139.6% in the third quarter. Penserra Capital Management LLC now owns 3,716,131 shares of the energy company’s stock worth $1,412,000 after buying an additional 2,165,316 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of FuelCell Energy by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,977,835 shares of the energy company’s stock worth $1,512,000 after buying an additional 216,539 shares during the last quarter. Banque Cantonale Vaudoise raised its holdings in FuelCell Energy by 42.0% in the 3rd quarter. Banque Cantonale Vaudoise now owns 122,096 shares of the energy company’s stock worth $46,000 after purchasing an additional 36,120 shares during the period. Bogart Wealth LLC raised its holdings in FuelCell Energy by 21,285.7% in the 3rd quarter. Bogart Wealth LLC now owns 112,275 shares of the energy company’s stock worth $43,000 after purchasing an additional 111,750 shares during the period. Finally, SG Americas Securities LLC raised its holdings in FuelCell Energy by 156.6% in the 3rd quarter. SG Americas Securities LLC now owns 4,708,109 shares of the energy company’s stock worth $1,789,000 after purchasing an additional 2,873,171 shares during the period. Hedge funds and other institutional investors own 42.78% of the company’s stock.

Analysts Set New Price Targets

FCEL has been the topic of several research analyst reports. Canaccord Genuity Group dropped their target price on FuelCell Energy from $45.00 to $37.50 and set a “hold” rating on the stock in a research note on Friday, September 6th. StockNews.com initiated coverage on FuelCell Energy in a research note on Tuesday. They set a “sell” rating on the stock. Finally, UBS Group dropped their target price on FuelCell Energy from $40.50 to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th.

FuelCell Energy Stock Performance

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

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings results on Thursday, September 5th. The energy company reported ($2.10) earnings per share 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 business had revenue of $23.70 million for the quarter, compared to the consensus estimate of $23.22 million. During the same quarter in the previous year, the business earned ($1.80) EPS. As a group, sell-side analysts forecast 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.