FuelCell Energy (NASDAQ:FCEL) Announces Earnings Results

FuelCell Energy (NASDAQ:FCEL) announced its quarterly earnings results on Monday. The energy company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01), FiscalAI reports. The business had revenue of $35.59 million for the quarter, compared to analysts’ expectations of $41.34 million. FuelCell Energy had a negative return on equity of 17.76% and a negative net margin of 107.51%.

FuelCell Energy Stock Performance

Shares of FCEL stock opened at $17.33 on Monday. The stock has a market capitalization of $918.14 million, a PE ratio of -2.51 and a beta of 2.42. FuelCell Energy has a 52-week low of $3.78 and a 52-week high of $27.69. The stock’s 50-day moving average price is $13.92 and its 200 day moving average price is $9.93. The company has a quick ratio of 6.51, a current ratio of 7.96 and a debt-to-equity ratio of 0.19.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FCEL. Jefferies Financial Group set a $7.20 price target on FuelCell Energy and gave the stock a “hold” rating in a report on Tuesday, March 10th. Wells Fargo & Company decreased their price target on FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating for the company in a report on Tuesday, March 10th. Finally, Weiss Ratings raised FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. Seven investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $8.24.

Hedge Funds Weigh In On FuelCell Energy

Several institutional investors have recently added to or reduced their stakes in FCEL. Two Sigma Investments LP acquired a new position in FuelCell Energy in the 3rd quarter valued at about $5,348,000. Invesco Ltd. increased its position in FuelCell Energy by 75.4% in the 4th quarter. Invesco Ltd. now owns 1,505,430 shares of the energy company’s stock valued at $11,005,000 after acquiring an additional 647,151 shares during the period. Trexquant Investment LP increased its position in FuelCell Energy by 162.3% in the 4th quarter. Trexquant Investment LP now owns 894,800 shares of the energy company’s stock valued at $6,541,000 after acquiring an additional 553,660 shares during the period. Deutsche Bank AG increased its position in FuelCell Energy by 2,207.5% in the 4th quarter. Deutsche Bank AG now owns 423,580 shares of the energy company’s stock valued at $3,096,000 after acquiring an additional 405,223 shares during the period. Finally, Geode Capital Management LLC increased its position in FuelCell Energy by 115.3% in the 4th quarter. Geode Capital Management LLC now owns 592,390 shares of the energy company’s stock valued at $4,333,000 after acquiring an additional 317,301 shares during the period. Institutional investors and hedge funds own 42.78% of the company’s stock.

About FuelCell Energy

FuelCell Energy, Inc (NASDAQ: FCEL) is a publicly traded company that designs, manufactures and operates turnkey molten carbonate fuel cell power plants. These stationary, on-site energy solutions generate electricity and heat through an electrochemical process that combines natural gas or biogas with oxygen, producing power with lower greenhouse gas emissions than traditional fossil fuel-based generation. The company’s fuel cell technology is engineered for continuous, baseload operation and can be integrated into microgrid architectures and industrial power systems to provide reliable, around-the-clock energy.

The company’s core product suite, marketed under the SureSource brand, encompasses both power generation and integrated carbon capture or hydrogen production capabilities.