Short Interest in FuelCell Energy, Inc. (NASDAQ:FCEL) Decreases By 5.2%

FuelCell Energy, Inc. (NASDAQ:FCEL) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 74,940,000 shares, a decline of 5.2% from the October 15th total of 79,030,000 shares. Based on an average daily volume of 10,950,000 shares, the days-to-cover ratio is presently 6.8 days.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of FCEL. Fermata Advisors LLC acquired a new position in shares of FuelCell Energy in the second quarter valued at approximately $25,000. Millburn Ridgefield Corp increased its holdings in shares of FuelCell Energy by 84.9% in the third quarter. Millburn Ridgefield Corp now owns 21,490 shares of the energy company’s stock valued at $28,000 after purchasing an additional 9,868 shares during the period. Catalyst Capital Advisors LLC increased its holdings in shares of FuelCell Energy by 84.9% in the third quarter. Catalyst Capital Advisors LLC now owns 21,490 shares of the energy company’s stock valued at $28,000 after purchasing an additional 9,868 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of FuelCell Energy in the third quarter valued at approximately $32,000. Finally, Sei Investments Co. acquired a new position in shares of FuelCell Energy in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 47.90% of the company’s stock.

FuelCell Energy Stock Performance

FCEL opened at $1.22 on Friday. The firm has a market cap of $496.25 million, a price-to-earnings ratio of -3.94 and a beta of 3.69. FuelCell Energy has a 52 week low of $0.98 and a 52 week high of $4.36. The business’s 50 day moving average is $1.21 and its two-hundred day moving average is $1.77. The company has a quick ratio of 7.27, a current ratio of 8.72 and a debt-to-equity ratio of 0.15.

FuelCell Energy (NASDAQ:FCEL) last released its quarterly earnings results on Monday, September 11th. The energy company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $25.50 million for the quarter, compared to analyst estimates of $27.68 million. FuelCell Energy had a negative return on equity of 17.59% and a negative net margin of 85.40%. The firm’s revenue was down 40.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) earnings per share. On average, research analysts predict that FuelCell Energy will post -0.28 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FCEL shares. Wells Fargo & Company decreased their target price on FuelCell Energy from $1.50 to $1.00 and set an “underweight” rating for the company in a research note on Tuesday, September 12th. Canaccord Genuity Group cut their price target on FuelCell Energy from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Wednesday, September 13th.

FuelCell Energy Company Profile

FuelCell Energy, Inc, together with its subsidiaries, manufactures and sells stationary fuel cell energy platforms that decarbonize power and produce hydrogen. It offers SureSource 1500, a 1.4-megawatt (MW) platform; SureSource 3000, a 2.8 MW platform; SureSource 4000, a 3.7 MW platform; SureSource 250, a 250- kilowatt (kW) platform; SureSource 400, a 400-kW platform; and SureSource Hydrogen, a 2.3 MW platform that is designed to produce up to 1,200 kilograms of hydrogen per day for multi-megawatt utility, microgrid, and distributed hydrogen applications, as well as on-site heat and chilling applications.