Short Interest in FuelCell Energy, Inc. (NASDAQ:FCEL) Decreases By 6.1%

FuelCell Energy, Inc. (NASDAQ:FCEL) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 88,750,000 shares, a decline of 6.1% from the March 15th total of 94,540,000 shares. Based on an average daily volume of 11,930,000 shares, the short-interest ratio is currently 7.4 days.

Institutional Trading of FuelCell Energy

Several hedge funds have recently added to or reduced their stakes in FCEL. NewEdge Advisors LLC bought a new position in shares of FuelCell Energy during the first quarter valued at about $62,000. Sei Investments Co. bought a new position in shares of FuelCell Energy during the first quarter valued at about $34,000. SkyView Investment Advisors LLC bought a new position in shares of FuelCell Energy during the first quarter valued at about $37,000. Arete Wealth Advisors LLC bought a new position in shares of FuelCell Energy during the first quarter valued at about $38,000. Finally, Federated Hermes Inc. bought a new position in shares of FuelCell Energy during the first quarter valued at about $85,000. 42.78% of the stock is owned by institutional investors.

FuelCell Energy Stock Performance

FuelCell Energy stock opened at $1.00 on Thursday. The company has a quick ratio of 6.35, a current ratio of 8.26 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $451.86 million, a PE ratio of -3.70 and a beta of 3.76. The firm has a fifty day simple moving average of $1.18 and a two-hundred day simple moving average of $1.24. FuelCell Energy has a twelve month low of $0.98 and a twelve month high of $2.94.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings results on Thursday, March 7th. The energy company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $16.69 million during the quarter, compared to the consensus estimate of $25.74 million. FuelCell Energy had a negative net margin of 105.56% and a negative return on equity of 15.89%. The firm’s revenue for the quarter was down 55.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) earnings per share. Research analysts expect that FuelCell Energy will post -0.28 EPS for the current year.

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.