Short interest in Fusion Fuel Green PLC (NASDAQ:HTOO) surged significantly in December, increasing by 41.0% from the previous month. As of December 15, 2023, the total short interest reached 111,774 shares, up from 79,272 shares on November 30, 2023. This spike indicates that 17.5% of the company’s shares are currently short sold.
The short interest growth comes at a challenging time for the company, as its stock has seen a decline, trading down 7.5% to $3.33 during midday trading on Wednesday. The trading volume stood at 57,626 shares, compared to the average volume of 373,088 shares. Currently, Fusion Fuel Green has a market capitalization of $2.61 million and a price-to-earnings (P/E) ratio of -0.37. The stock has fluctuated within a one-year range, with a low of $2.92 and a high of $28.35.
Market Dynamics and Analyst Ratings
The company’s performance has attracted attention from analysts, with rapid shifts in ratings evident. According to Weiss Ratings, a “sell (e+)” rating was reaffirmed for Fusion Fuel Green on October 8, 2023. Similarly, Wall Street Zen upgraded the shares from a “sell” rating to a “hold” on September 13, 2023. Currently, MarketBeat data indicates that the average analyst rating for the stock remains as “sell.”
The growing short interest reflects a lack of confidence among some investors, particularly amidst the recent stock price decline. With an average daily volume of 1,843,677 shares, the days-to-cover ratio stands at 0.1 days, further emphasizing the liquidity of the stock.
About Fusion Fuel Green
Founded as a pioneer in renewable energy, Fusion Fuel Green PLC focuses on developing and commercializing technologies for green hydrogen production. The company specializes in solar-driven hydrogen generation, utilizing proprietary microelectrolyzer systems together with concentrated solar power (CSP) to produce hydrogen without carbon emissions.
Fusion Fuel’s innovative ATHENA platform combines advanced solar collectors and modular electrolyzers, allowing for direct conversion of solar energy into green hydrogen. This positions the company as a key player in providing emission-free fuel solutions for various applications, including industrial, transportation, and utility sectors. Their scalable, containerized hydrogen production units can be deployed in both on-site and grid-connected installations.
As the market continues to react to these developments, investors and analysts will be closely monitoring Fusion Fuel Green’s performance and its strategic initiatives in the renewable energy sector.
