FUELCELL ENERGY INC FCEL
COM NEW · Common Stock · CUSIP 35952H700 · ISIN US35952H7008
U.S.-based fuel cell company
- SectorIndustrials
- IndustryElectrical Industrial Apparatus
- HeadquartersDanbury, CT
- Founded1969
- Websitefuelcellenergy.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Shares outstanding: 67.6m as of 2026-06-04, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $35.88. Options: 23 managers hold calls ($329.0m notional), 15 hold puts ($160.8m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q1 2024 | 1 |
| Q2 2024 | 0 |
| Q3 2024 | 3 |
| Q4 2024 | 107 |
| Q1 2025 | 102 |
| Q2 2025 | 102 |
| Q3 2025 | 117 |
| Q4 2025 | 137 |
| Q1 2026 | 143 |
| Q2 2026 | 223 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 3 | 0 |
| Q4 2024 | 101 | 3 |
| Q1 2025 | 46 | 45 |
| Q2 2025 | 41 | 57 |
| Q3 2025 | 60 | 40 |
| Q4 2025 | 79 | 39 |
| Q1 2026 | 69 | 53 |
| Q2 2026 | 156 | 61 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $18.2m | $11.4m | 0.62 |
| Q4 2025 | $25.1m | $16.2m | 0.64 |
| Q1 2026 | $15.6m | $11.9m | 0.76 |
| Q2 2026 | $329.0m | $160.8m | 0.49 |
Biggest buyers
| BlackRock, Inc. | Added | +3.3m |
| STATE STREET CORP | Added | +1.9m |
| Encompass Capital Advisors LLC | New | +1.4m |
| Anatole Investment Management Ltd | New | +1.2m |
| T. Rowe Price Investment Management, Inc. | New | +1.1m |
| Driehaus Capital Management LLC | New | +1.0m |
| Baird Financial Group, Inc. | New | +866.2k |
| JANE STREET GROUP, LLC | New | +859.6k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +826.9k |
| TWO SIGMA INVESTMENTS, LP | Added | +780.1k |
Biggest sellers
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -1.1m |
| CenterBook Partners LP | Reduced | -878.4k |
| Qube Research & Technologies Ltd | Reduced | -517.1k |
| Legal & General Group Plc | Reduced | -446.1k |
| MARSHALL WACE, LLP | Sold out | -387.4k |
| JPMORGAN CHASE & CO | Reduced | -286.2k |
| Invesco Ltd. | Reduced | -233.7k |
| Jump Financial, LLC | Reduced | -215.3k |
| Connor, Clark & Lunn Investment Management Ltd. | Sold out | -211.3k |
| MIRABELLA FINANCIAL SERVICES LLP | Sold out | -200.0k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $65.7m1.8m shares |
| JANE STREET GROUP, LLC | Added | $58.4m1.6m shares |
| CITADEL ADVISORS LLC | Added | $51.0m1.4m shares |
| PEAK6 LLC | Added | $43.2m1.2m shares |
| IMC-Chicago, LLC | Added | $35.0m973.0k shares |
| GROUP ONE TRADING LLC | Added | $19.8m549.7k shares |
| SIMPLEX TRADING, LLC | Added | $13.4m373.4k shares |
| NOMURA HOLDINGS INC | New | $9.0m250.0k shares |
| Walleye Trading LLC | Added | $7.9m219.6k shares |
| ARDSLEY ADVISORY PARTNERS LP | New | $4.5m125.0k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $41.9m1.2m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $39.7m1.1m shares |
| JANE STREET GROUP, LLC | Added | $20.4m566.1k shares |
| IMC-Chicago, LLC | Added | $20.3m563.4k shares |
| GROUP ONE TRADING LLC | Added | $11.3m313.1k shares |
| Walleye Trading LLC | Added | $10.8m299.5k shares |
| Crawford Fund Management, LLC | Reduced | $6.9m191.8k shares |
| SIMPLEX TRADING, LLC | Added | $3.4m94.5k shares |
| Walleye Capital LLC | New | $2.0m56.2k shares |
| MARSHALL WACE, LLP | New | $1.5m42.5k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| MERUELO ALEX 13G · passive investor +2.9 pts · filed 2026-10-15 | 7.5% |
| BlackRock, Inc. 13G · institution +4.1 pts · filed 2026-07-28 | 6.2% |
Fell to 5% or below in the last year: Legal & General Group Plc (3.6%, 2026-08-14), Citadel Securities GP LLC (3.8%, 2026-08-04), VANGUARD GROUP INC (0.0%, 2026-03-26)
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 1 | $73.3k | — |
| Q1 2026 | 0 | — | 0 | — | — |
| Q2 2026 | 0 | — | 1 | $20.0k | $20.0k |
| Q3 2026 | 1 | $741.9k | 1 | $71.8k | $71.8k |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-09-14 | Livingston III Homer John Director | Bought | $246.9k16.4k shares |
| 2026-07-16 | Livingston III Homer John Director | Bought | $495.0k26.3k shares |
| 2026-07-06 | Achanta Shankar EVP, Chf. Product &Tech Ofc. | Sold plan | $71.8k2.5k shares |
| 2026-04-20 | Achanta Shankar EVP, Chf. Product &Tech Ofc. | Sold plan | $20.0k2.5k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.00% of their portfolio | 4.3m $155.3m | Added +3.3m |
| Legal & General Group Plc 0.02% of their portfolio | 2.4m $87.1m | Reduced -446.1k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 2.3m $84.0m | Added +151.2k |
| STATE STREET CORP 0.00% of their portfolio | 2.1m $77.2m | Added +1.9m |
| TWO SIGMA INVESTMENTS, LP 0.06% of their portfolio | 2.1m $74.2m | Added +780.1k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 1.4m $50.7m | Added +826.9k |
| Encompass Capital Advisors LLC 2.12% of their portfolio | 1.4m $49.2m | New |
| UBS Group AG 0.01% of their portfolio | 1.3m $45.9m | Added +673.7k |
| RENAISSANCE TECHNOLOGIES LLC 0.06% of their portfolio | 1.3m $45.8m | Added +385.9k |
| Anatole Investment Management Ltd 7.12% of their portfolio | 1.2m $42.0m | New |
| T. Rowe Price Investment Management, Inc. 0.03% of their portfolio | 1.1m $40.4m | New |
| Driehaus Capital Management LLC 0.21% of their portfolio | 1.0m $36.5m | New |
| Invesco Ltd. 0.00% of their portfolio | 982.0k $35.4m | Reduced -233.7k |
| Baird Financial Group, Inc. 0.04% of their portfolio | 866.2k $31.2m | New |
| JANE STREET GROUP, LLC 0.02% of their portfolio | 859.6k $31.0m | New |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 852.9k $30.7m | Added +282.6k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 746.9k $26.9m | Reduced -5.6k |
| Trexquant Investment LP 0.16% of their portfolio | 739.4k $26.6m | Added +220.1k |
| GROUP ONE TRADING LLC 0.72% of their portfolio | 696.4k $25.1m | Added +645.5k |
| HRT FINANCIAL LP 0.06% of their portfolio | 645.6k $23.2m | Added +602.7k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio | 643.8k $23.2m | Reduced -1.1m |
| Point72 Asset Management, L.P. 0.03% of their portfolio | 621.1k $22.4m | Added +436.4k |
| ACADIAN ASSET MANAGEMENT LLC 0.03% of their portfolio | 594.2k $21.4m | Reduced -46.1k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 505.1k $18.2m | Added +449.0k |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 460.5k $16.6m | Added +1.2k |
| MORGAN STANLEY 0.00% of their portfolio | 450.8k $16.2m | Added +108.2k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 430.8k $15.5m | Added +325.7k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 395.9k $14.2m | Added +83.3k |
| TUDOR INVESTMENT CORP ET AL 0.06% of their portfolio | 391.8k $14.1m | New |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.02% of their portfolio | 377.8k $13.4m | Reduced -53.0k |
| FMR LLC 0.00% of their portfolio | 370.6k $13.3m | Added +363.9k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 357.1k $10.6m | Reduced -286.2k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 348.9k $12.6m | Added +64.5k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.00% of their portfolio | 327.1k $11.8m | New |
| PANAGORA ASSET MANAGEMENT INC 0.04% of their portfolio | 319.2k $11.5m | Added +126.8k |
| FEDERATED HERMES, INC. 0.02% of their portfolio | 309.4k $11.1m | Reduced -34.5k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 286.3k $10.3m | New |
| Walleye Trading LLC 0.13% of their portfolio | 252.7k $9.1m | New |
| Tidal Investments LLC 0.02% of their portfolio | 244.0k $8.8m | Added +92.6k |
| Nuveen, LLC 0.00% of their portfolio | 220.3k $7.9m | New |
| Defiance ETFs, LLC 0.09% of their portfolio | 206.3k $6.6m | Added +54.8k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.01% of their portfolio | 190.5k $6.9m | Added +43.9k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio | 180.0k $6.5m | New |
| Informed Momentum Co LLC 0.57% of their portfolio | 178.9k $6.4m | New |
| Bank of New York Mellon Corp 0.00% of their portfolio | 169.2k $6.1m | New |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 160.8k $5.8m | Added +129.8k |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 142.1k $5.1m | Added +26.0k |
| Lighthouse Investment Partners, LLC 0.16% of their portfolio | 141.8k $5.1m | Added +33.0k |
| SIMPLEX TRADING, LLC 0.13% of their portfolio | 138.1k $5.0m | Added +138.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 131.5k $4.7m | New |
| ARDSLEY ADVISORY PARTNERS LP 0.47% of their portfolio | 120.0k $4.4m | Added +75.0k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 119.3k $4.3m | Added +98.4k |
| CenterBook Partners LP 0.19% of their portfolio | 107.7k $3.9m | Reduced -878.4k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.01% of their portfolio | 105.4k $3.8m | New |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 98.5k $3.5m | Added +43.4k |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.06% of their portfolio | 94.7k $3.4m | Unchanged |
| Virtu Financial LLC 0.10% of their portfolio | 90.4k $3.3m | New |
| XTX Topco Ltd 0.04% of their portfolio | 88.2k $3.2m | New |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 86.9k $3.1m | Added +51.2k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 85.8k $3.1m | Reduced -104.9k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.01% of their portfolio | 85.0k $3.1m | New |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 84.1k $3.0m | Added +70.4k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 81.8k $2.9m | Reduced -173.0k |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 80.8k $2.9m | Reduced -517.1k |
| REX Advisers, LLC 7.34% of their portfolio | 75.9k $2.7m | New |
| LPL Financial LLC 0.00% of their portfolio | 75.6k $2.7m | Added +8.7k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 73.8k $2.7m | Reduced -135.3k |
| Brevan Howard Capital Management LP 0.03% of their portfolio | 68.2k $2.5m | Reduced -22.5k |
| Quinn Opportunity Partners LLC 0.11% of their portfolio | 67.0k $2.4m | New |
| Scientech Research LLC 1.74% of their portfolio | 59.8k $2.2m | New |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.04% of their portfolio | 57.0k $2.1m | Unchanged |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 56.7k $370.3k | New |
| Caitong International Asset Management Co., Ltd 0.26% of their portfolio | 53.5k $1.9m | New |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 52.0k $1.9m | Added +49.8k |
| Alight Capital Management LP 0.29% of their portfolio | 50.0k $1.8m | New |
| CITIGROUP INC 0.00% of their portfolio | 46.3k $1.7m | Reduced -66.3k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 45.1k $1.6m | New |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 44.4k $1.6m | New |
| SG Americas Securities, LLC 0.00% of their portfolio | 43.9k $1.6m | New |
| ALGERT GLOBAL LLC 0.02% of their portfolio | 42.9k $1.5m | Added +30.3k |
| Walleye Capital LLC 0.01% of their portfolio | 42.5k $1.5m | New |
| Caption Management, LLC 0.05% of their portfolio | 42.0k $1.5m | New |
| Amundi 0.00% of their portfolio | 39.8k $1.4m | Reduced -11.1k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 38.1k $1.4m | New |
| BARCLAYS PLC 0.00% of their portfolio | 34.6k $1.2m | Reduced -170.2k |
| KINGSWOOD WEALTH ADVISORS, LLC 0.05% of their portfolio | 33.9k $1.2m | New |
| Entropy Technologies, LP 0.05% of their portfolio | 32.5k $1.2m | Reduced -5.0k |
| MetLife Investment Management, LLC 0.01% of their portfolio | 31.8k $1.1m | New |
| ExodusPoint Capital Management, LP 0.01% of their portfolio | 30.8k $1.1m | Reduced -80.0k |
| Susquehanna Portfolio Strategies, LLC 0.02% of their portfolio | 29.8k $1.1m | Reduced -12.2k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio | 28.6k $1.0m | Reduced -25.6k |
| Cinctive Capital Management LP 0.04% of their portfolio | 28.3k $1.0m | New |
| Aventail Capital Group, LP 0.05% of their portfolio | 25.5k $918.0k | New |
| Jump Financial, LLC 0.01% of their portfolio | 24.3k $875.0k | Reduced -215.3k |
| Centiva Capital, LP 0.03% of their portfolio | 24.1k $866.8k | New |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 24.0k $863.2k | Added +22.6k |
| Maven Securities LTD 0.08% of their portfolio | 23.2k $837.2k | New |
| Schonfeld Strategic Advisors LLC 0.00% of their portfolio | 22.8k $822.0k | Reduced -46.6k |
| Kingsview Wealth Management, LLC 0.01% of their portfolio | 21.7k $780.7k | New |
| Balyasny Asset Management L.P. 0.00% of their portfolio | 21.2k $764.2k | Reduced -72.8k |