FuelCell Energy, Inc. (NASDAQ:FCEL) Sees Significant Decrease in Short Interest

FuelCell Energy, Inc. (NASDAQ:FCEL) saw a large decline in short interest in the month of 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 shares are short sold. Based on an average daily volume of 895,300 shares, the days-to-cover ratio is presently 4.9 days.

Institutional Trading of FuelCell Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FCEL. SG Americas Securities LLC grew its holdings in shares of FuelCell Energy by 156.6% in the third quarter. SG Americas Securities LLC now owns 4,708,109 shares of the energy company’s stock valued at $1,789,000 after acquiring an additional 2,873,171 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of FuelCell Energy by 66.0% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,443,666 shares of the energy company’s stock valued at $1,718,000 after acquiring an additional 574,042 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of FuelCell Energy by 43.8% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,268,856 shares of the energy company’s stock valued at $811,000 after acquiring an additional 386,751 shares in the last quarter. Inspire Investing LLC bought a new position in shares of FuelCell Energy in the first quarter valued at approximately $353,000. Finally, Virtu Financial LLC bought a new position in shares of FuelCell Energy in the first quarter valued at approximately $285,000. 42.78% of the stock is owned by institutional investors.

FuelCell Energy Stock Down 13.6 %

FCEL traded down $0.91 during midday trading on Tuesday, reaching $5.77. 1,124,097 shares of the company were exchanged, compared to its average volume of 1,049,521. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.97 and a current ratio of 6.91. The company’s fifty day moving average price is $0.50 and its 200 day moving average price is $0.62. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -23.85 and a beta of 3.91. FuelCell Energy has a one year low of $5.66 and a one year high of $55.20.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings data on Thursday, September 5th. The energy company reported ($2.10) EPS for the quarter, hitting analysts’ consensus estimates of ($2.10). The firm had revenue of $23.70 million during the quarter, compared to analyst estimates 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 period in the previous year, the company posted ($1.80) EPS. As a group, analysts expect that FuelCell Energy will post -0.24 EPS for the current year.

Analyst Ratings Changes

FCEL has been the topic of a number of recent analyst reports. Canaccord Genuity Group dropped their price objective 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. UBS Group dropped their price target 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.

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.