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

FuelCell Energy, Inc. (NASDAQ:FCEL) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 5,500,000 shares, an increase of 7.2% from the December 31st total of 5,130,000 shares. Based on an average daily trading volume, of 1,660,000 shares, the days-to-cover ratio is presently 3.3 days. Approximately 27.0% of the company’s shares are sold short.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. StockNews.com began coverage on FuelCell Energy in a report on Tuesday, November 12th. They set a “sell” rating for the company. UBS Group dropped their price target on FuelCell Energy from $15.00 to $13.75 and set a “neutral” rating on the stock in a research note on Tuesday, December 3rd. Wells Fargo & Company reduced their price objective on FuelCell Energy from $30.00 to $5.00 and set an “underweight” rating for the company in a research note on Wednesday, November 13th. TD Cowen lifted their target price on shares of FuelCell Energy from $2.00 to $12.00 and gave the company a “hold” rating in a report on Friday, December 20th. Finally, Jefferies Financial Group decreased their price target on shares of FuelCell Energy from $15.00 to $8.40 and set a “hold” rating for the company in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, FuelCell Energy currently has an average rating of “Hold” and a consensus price target of $10.23.

Institutional Trading of FuelCell Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its holdings in shares of FuelCell Energy by 106.0% during the second quarter. AQR Capital Management LLC now owns 50,952 shares of the energy company’s stock worth $33,000 after buying an additional 26,223 shares in the last quarter. Algert Global LLC purchased a new stake in FuelCell Energy in the 2nd quarter worth approximately $29,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in FuelCell Energy by 21.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,199,135 shares of the energy company’s stock valued at $766,000 after acquiring an additional 213,016 shares during the last quarter. SG Americas Securities LLC grew its position 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 purchasing an additional 2,873,171 shares during the period. Finally, Bogart Wealth LLC increased its stake in FuelCell Energy by 21,285.7% in the third quarter. Bogart Wealth LLC now owns 112,275 shares of the energy company’s stock valued at $43,000 after purchasing an additional 111,750 shares during the last quarter. Hedge funds and other institutional investors own 42.78% of the company’s stock.

FuelCell Energy Price Performance

Shares of NASDAQ:FCEL traded up $0.47 on Tuesday, reaching $7.74. 279,626 shares of the company were exchanged, compared to its average volume of 1,170,474. The company has a 50-day moving average of $10.16 and a 200-day moving average of $11.24. FuelCell Energy has a 1-year low of $5.45 and a 1-year high of $45.60. The company has a current ratio of 6.01, a quick ratio of 4.48 and a debt-to-equity ratio of 0.20. The firm has a market cap of $158.18 million, a price-to-earnings ratio of -0.98 and a beta of 3.36.

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.