Short Interest in FuelCell Energy, Inc. (NASDAQ:FCEL) Declines By 32.4%

FuelCell Energy, Inc. (NASDAQ:FCEL) saw a large decline in short interest in October. As of October 15th, there was short interest totaling 2,000,000 shares, a decline of 32.4% from the September 30th total of 2,960,000 shares. Approximately 6.2% of the company’s shares are sold short. Based on an average trading volume of 3,330,000 shares, the days-to-cover ratio is presently 0.6 days. Based on an average trading volume of 3,330,000 shares, the days-to-cover ratio is presently 0.6 days. Approximately 6.2% of the company’s shares are sold short.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group lifted their target price on FuelCell Energy from $4.50 to $7.25 and gave the company a “neutral” rating in a research report on Wednesday, September 17th. Zacks Research raised FuelCell Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of FuelCell Energy in a research report on Wednesday, October 8th. Finally, Canaccord Genuity Group reissued a “hold” rating and set a $12.00 price objective on shares of FuelCell Energy in a research report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.78.

Institutional Investors Weigh In On FuelCell Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its stake in shares of FuelCell Energy by 254.0% during the first quarter. Federated Hermes Inc. now owns 531,615 shares of the energy company’s stock worth $2,440,000 after purchasing an additional 381,450 shares during the last quarter. Penserra Capital Management LLC raised its stake in shares of FuelCell Energy by 167.6% during the first quarter. Penserra Capital Management LLC now owns 195,802 shares of the energy company’s stock worth $898,000 after purchasing an additional 122,638 shares during the last quarter. Nuveen LLC purchased a new stake in shares of FuelCell Energy during the first quarter worth approximately $218,000. Brevan Howard Capital Management LP purchased a new stake in shares of FuelCell Energy during the second quarter worth approximately $216,000. Finally, Engineers Gate Manager LP raised its stake in shares of FuelCell Energy by 128.8% during the second quarter. Engineers Gate Manager LP now owns 40,277 shares of the energy company’s stock worth $226,000 after purchasing an additional 22,672 shares during the last quarter. Hedge funds and other institutional investors own 42.78% of the company’s stock.

FuelCell Energy Stock Down 10.8%

FCEL stock traded down $0.90 during trading on Tuesday, hitting $7.40. 5,907,209 shares of the company’s stock were exchanged, compared to its average volume of 2,061,790. The business has a 50-day moving average price of $7.59 and a two-hundred day moving average price of $5.89. The stock has a market capitalization of $238.98 million, a price-to-earnings ratio of -0.80 and a beta of 4.25. FuelCell Energy has a 52-week low of $3.58 and a 52-week high of $13.98. The company has a current ratio of 5.37, a quick ratio of 3.85 and a debt-to-equity ratio of 0.21.

FuelCell Energy (NASDAQ:FCEL) last posted its earnings results on Tuesday, September 9th. The energy company reported ($3.78) earnings per share for the quarter, missing the consensus estimate of ($1.59) by ($2.19). The business had revenue of $46.74 million for the quarter, compared to analysts’ expectations of $48.30 million. FuelCell Energy had a negative return on equity of 20.53% and a negative net margin of 130.81%.During the same quarter in the previous year, the firm earned ($1.94) EPS. As a group, equities research analysts expect that FuelCell Energy will post -6.11 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.