FuelCell Energy (NASDAQ:FCEL) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

FuelCell Energy (NASDAQ:FCELGet Rating) issued its quarterly earnings data on Thursday. The energy company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03), Briefing.com reports. The company had revenue of $16.40 million for the quarter, compared to analysts’ expectations of $32.32 million. FuelCell Energy had a negative return on equity of 13.07% and a negative net margin of 120.33%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.06) EPS.

Shares of NASDAQ FCEL opened at $3.76 on Friday. FuelCell Energy has a 52 week low of $2.87 and a 52 week high of $11.63. The company’s 50-day moving average price is $4.35 and its 200 day moving average price is $5.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.76 and a quick ratio of 5.89.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Stanley lifted its holdings in FuelCell Energy by 4.0% in the 2nd quarter. Morgan Stanley now owns 4,090,359 shares of the energy company’s stock valued at $36,406,000 after purchasing an additional 156,538 shares in the last quarter. Millennium Management LLC lifted its holdings in FuelCell Energy by 47.8% in the 3rd quarter. Millennium Management LLC now owns 292,810 shares of the energy company’s stock valued at $1,959,000 after purchasing an additional 94,655 shares in the last quarter. Janus Henderson Group PLC purchased a new position in FuelCell Energy in the 3rd quarter valued at about $218,000. BNP Paribas Arbitrage SA lifted its holdings in FuelCell Energy by 350.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 90,499 shares of the energy company’s stock valued at $605,000 after purchasing an additional 70,389 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in FuelCell Energy by 4.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,194,625 shares of the energy company’s stock valued at $7,992,000 after purchasing an additional 48,595 shares in the last quarter. 42.07% of the stock is currently owned by hedge funds and other institutional investors.

FCEL has been the subject of several recent analyst reports. Craig Hallum reduced their price objective on shares of FuelCell Energy from $6.00 to $3.00 and set a “hold” rating for the company in a research report on Friday. KeyCorp reiterated a “sector weight” rating on shares of FuelCell Energy in a research report on Thursday, June 2nd. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.00.

FuelCell Energy Company Profile (Get Rating)

FuelCell Energy, Inc, together with its subsidiaries, designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed baseload power generation. It offers SureSource1500, a 1.4-megawatt (MW) platform; SureSource 3000, a 2.8 MW platform; SureSource 4000, a 3.7 MW platform; SureSource 250, a 250- kilowatt (kW) platform; SureSource 400, a 400-kW platform; and SureSource Hydrogen, a 2.3 MW platform that is designed to produce up to 1,200 kilograms of hydrogen per day for multi-megawatt utility, microgrid, and distributed hydrogen applications, as well as on-site heat and chilling applications.

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Earnings History for FuelCell Energy (NASDAQ:FCEL)

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