FuelCell Energy, Inc. (NASDAQ:FCEL) Sees Large Growth in Short Interest

FuelCell Energy, Inc. (NASDAQ:FCEL) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 80,120,000 shares, an increase of 16.2% from the August 15th total of 68,950,000 shares. Based on an average daily volume of 14,870,000 shares, the days-to-cover ratio is presently 5.4 days.

Institutional Trading of FuelCell Energy

Hedge funds have recently made changes to their positions in the company. West Michigan Advisors LLC purchased a new position in shares of FuelCell Energy in the first quarter valued at $28,000. NewEdge Advisors LLC purchased a new position in FuelCell Energy in the 1st quarter valued at about $62,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of FuelCell Energy during the fourth quarter valued at about $30,000. Fermata Advisors LLC purchased a new stake in shares of FuelCell Energy during the second quarter worth about $25,000. Finally, Sei Investments Co. acquired a new position in shares of FuelCell Energy in the first quarter worth about $34,000. Hedge funds and other institutional investors own 47.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group cut their price target on shares of FuelCell Energy from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Wednesday, September 13th. Wells Fargo & Company reduced their target price on FuelCell Energy from $1.50 to $1.00 and set an “underweight” rating on the stock in a report on Tuesday, September 12th. Craig Hallum lowered their price target on FuelCell Energy from $3.00 to $2.50 in a research report on Friday, June 9th. Finally, B. Riley cut their price objective on FuelCell Energy from $4.00 to $2.50 in a report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.48.

FuelCell Energy Stock Up 3.8 %

FuelCell Energy stock traded up $0.05 during trading on Tuesday, reaching $1.22. 5,120,774 shares of the company’s stock were exchanged, compared to its average volume of 12,226,266. FuelCell Energy has a 52-week low of $1.13 and a 52-week high of $4.36. The firm has a market cap of $494.21 million, a price-to-earnings ratio of -3.91 and a beta of 3.69. The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.27 and a current ratio of 8.72. The company’s 50-day moving average is $1.79 and its two-hundred day moving average is $2.20.

FuelCell Energy (NASDAQ:FCEL) last issued its earnings results on Monday, September 11th. The energy company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $25.50 million during the quarter, compared to the consensus estimate of $27.68 million. FuelCell Energy had a negative return on equity of 17.59% and a negative net margin of 85.40%. The company’s revenue was down 40.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) earnings per share. On average, analysts predict that FuelCell Energy will post -0.29 earnings per share for the current year.

About FuelCell Energy

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.