FuelCell Energy Inc (NASDAQ:FCEL)’s share price rose 8.6% during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $2.17 and last traded at $2.01. Approximately 8,758,700 shares changed hands during trading, an increase of 319% from the average daily volume of 2,090,625 shares. The stock had previously closed at $1.85.
The energy company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.05. The company had revenue of $47.90 million for the quarter, compared to the consensus estimate of $25.90 million. FuelCell Energy had a negative return on equity of 52.75% and a negative net margin of 78.60%. FuelCell Energy’s revenue for the quarter was up 95.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.41) earnings per share.
FCEL has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded FuelCell Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. B. Riley upgraded FuelCell Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $2.50 to $3.50 in a research report on Friday. Cowen reiterated an “outperform” rating and set a $2.50 price target on shares of FuelCell Energy in a research report on Wednesday, September 20th. Oppenheimer initiated coverage on FuelCell Energy in a research report on Wednesday, October 4th. They set an “outperform” rating and a $4.00 price target on the stock. Finally, Roth Capital set a $2.00 price target on FuelCell Energy and gave the stock a “hold” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $3.17.
The company has a market cap of $138.42, a PE ratio of -1.38 and a beta of 1.95. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.36 and a current ratio of 2.71.
FuelCell Energy Company Profile
Fuelcell Energy, Inc delivers fuel cell power solutions. The Company is engaged in designing, manufacturing, installing, operating and maintaining fuel cell power solutions. The Company also provides turnkey power generation solutions to the customers, including power plant installation, operations and maintenance.
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