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

FuelCell Energy, Inc. (NASDAQ:FCEL) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 5,500,000 shares, a growth of 7.2% from the December 15th total of 5,130,000 shares. Currently, 27.0% of the shares of the stock are short sold. Based on an average trading volume of 1,660,000 shares, the days-to-cover ratio is currently 3.3 days.

FuelCell Energy Stock Down 0.9 %

Shares of FCEL traded down $0.09 during trading hours on Friday, reaching $9.59. The company’s stock had a trading volume of 930,295 shares, compared to its average volume of 1,291,075. The company has a 50 day moving average of $10.01 and a two-hundred day moving average of $12.16. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.01 and a quick ratio of 4.48. FuelCell Energy has a 1-year low of $5.45 and a 1-year high of $45.60.

Hedge Funds Weigh In On FuelCell Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in FuelCell Energy by 35.8% during the third quarter. JPMorgan Chase & Co. now owns 545,894 shares of the energy company’s stock valued at $207,000 after purchasing an additional 143,786 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of FuelCell Energy by 13.9% during the 3rd quarter. Geode Capital Management LLC now owns 12,014,243 shares of the energy company’s stock valued at $4,567,000 after buying an additional 1,466,442 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of FuelCell Energy in the 3rd quarter valued at approximately $90,000. Integrated Wealth Concepts LLC increased its holdings in FuelCell Energy by 7.5% in the third quarter. Integrated Wealth Concepts LLC now owns 74,021 shares of the energy company’s stock worth $28,000 after buying an additional 5,150 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in FuelCell Energy by 4.2% in the third quarter. Rockefeller Capital Management L.P. now owns 548,404 shares of the energy company’s stock valued at $208,000 after acquiring an additional 22,153 shares during the last quarter. 42.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.