FuelCell Energy (FCEL) Stock Price Up 8.6% Following Strong Earnings

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.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position in shares of FuelCell Energy by 90.1% in the second quarter. Goldman Sachs Group Inc. now owns 137,961 shares of the energy company’s stock valued at $171,000 after acquiring an additional 65,392 shares in the last quarter. KBC Group NV lifted its position in shares of FuelCell Energy by 170.5% in the third quarter. KBC Group NV now owns 233,465 shares of the energy company’s stock valued at $409,000 after acquiring an additional 147,155 shares in the last quarter. CNA Financial Corp lifted its position in shares of FuelCell Energy by 112.3% in the third quarter. CNA Financial Corp now owns 439,851 shares of the energy company’s stock valued at $770,000 after acquiring an additional 232,695 shares in the last quarter. Robecosam AG lifted its position in shares of FuelCell Energy by 35.7% in the second quarter. Robecosam AG now owns 950,000 shares of the energy company’s stock valued at $1,226,000 after acquiring an additional 250,000 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of FuelCell Energy by 99.4% in the second quarter. Vanguard Group Inc. now owns 1,898,705 shares of the energy company’s stock valued at $2,354,000 after acquiring an additional 946,548 shares in the last quarter. Institutional investors and hedge funds own 14.56% of the company’s stock.

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.

WARNING: “FuelCell Energy (FCEL) Stock Price Up 8.6% Following Strong Earnings” was originally posted by Markets Daily and is owned by of Markets Daily. If you are viewing this article on another domain, it was illegally stolen and republished in violation of international copyright & trademark legislation. The original version of this article can be accessed at https://www.themarketsdaily.com/2018/01/13/fuelcell-energy-fcel-stock-price-up-8-6-following-strong-earnings.html.

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.

Receive News & Ratings for FuelCell Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FuelCell Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply