Short Interest in FuelCell Energy, Inc. (NASDAQ:FCEL) Declines By 7.0%

FuelCell Energy, Inc. (NASDAQ:FCEL) saw a large decline in short interest in the month of 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 trading volume, of 38,850,000 shares, the days-to-cover ratio is currently 3.1 days.

FuelCell Energy Trading Down 0.7 %

FuelCell Energy stock traded down $0.00 during midday trading on Tuesday, hitting $0.38. 30,368,709 shares of the stock were exchanged, compared to its average volume of 31,640,754. The company has a fifty day simple moving average of $0.45 and a two-hundred day simple moving average of $0.73. FuelCell Energy has a 52 week low of $0.36 and a 52 week high of $1.84. The stock has a market capitalization of $187.54 million, a PE ratio of -1.52 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 released its quarterly earnings data on Thursday, September 5th. The energy company reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). FuelCell Energy had a negative net margin of 135.76% and a negative return on equity of 17.02%. The business had revenue of $23.70 million for the quarter, compared to analyst estimates of $23.22 million. During the same quarter last year, the firm earned ($0.06) EPS. Equities research analysts anticipate that FuelCell Energy will post -0.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FCEL has been the subject of several analyst reports. UBS Group lowered their price target on shares of FuelCell Energy from $1.35 to $0.50 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. B. Riley raised shares of FuelCell Energy to a “hold” rating in a research note on Tuesday, June 25th. Finally, Canaccord Genuity Group reduced their price objective on shares of FuelCell Energy from $1.50 to $1.25 and set a “hold” rating on the stock in a research note on Friday, September 6th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FCEL. Charles Schwab Investment Management Inc. lifted its stake in FuelCell Energy by 13.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,571,508 shares of the energy company’s stock valued at $5,714,000 after buying an additional 430,184 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in FuelCell Energy by 6.6% in the fourth quarter. BNP Paribas Financial Markets now owns 305,760 shares of the energy company’s stock valued at $489,000 after buying an additional 18,844 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in FuelCell Energy by 60.8% in the fourth quarter. Allianz Asset Management GmbH now owns 1,488,300 shares of the energy company’s stock valued at $2,381,000 after buying an additional 562,800 shares in the last quarter. Rafferty Asset Management LLC raised its holdings in shares of FuelCell Energy by 65.3% in the fourth quarter. Rafferty Asset Management LLC now owns 1,081,062 shares of the energy company’s stock valued at $1,730,000 after purchasing an additional 426,984 shares during the last quarter. Finally, Aristides Capital LLC acquired a new stake in shares of FuelCell Energy in the fourth quarter valued at approximately $48,000. Institutional investors own 42.78% of the company’s stock.

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.