FuelCell Energy (NASDAQ:FCEL) Issues Earnings Results, Misses Estimates By $0.02 EPS

FuelCell Energy (NASDAQ:FCELGet Rating) announced its earnings results on Thursday. The energy company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02), Briefing.com reports. The company had revenue of $43.10 million during the quarter, compared to analyst estimates of $35.16 million. FuelCell Energy had a negative return on equity of 15.56% and a negative net margin of 118.26%. FuelCell Energy’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) earnings per share.

FuelCell Energy Trading Up 11.3 %

Shares of FuelCell Energy stock traded up $0.43 during trading hours on Friday, reaching $4.24. 16,266,539 shares of the company’s stock were exchanged, compared to its average volume of 11,686,310. The company has a current ratio of 7.41, a quick ratio of 6.38 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $4.03 and a two-hundred day moving average of $4.51. FuelCell Energy has a fifty-two week low of $2.87 and a fifty-two week high of $11.63.

Institutional Investors Weigh In On FuelCell Energy

A number of institutional investors and hedge funds have recently modified their holdings of FCEL. JPMorgan Chase & Co. raised its holdings in shares of FuelCell Energy by 3.8% in the 1st quarter. JPMorgan Chase & Co. now owns 531,319 shares of the energy company’s stock valued at $3,061,000 after purchasing an additional 19,633 shares during the period. Raymond James & Associates raised its holdings in shares of FuelCell Energy by 203.1% in the 1st quarter. Raymond James & Associates now owns 128,858 shares of the energy company’s stock valued at $742,000 after purchasing an additional 86,344 shares during the period. Bank of New York Mellon Corp raised its holdings in FuelCell Energy by 3.4% in the 1st quarter. Bank of New York Mellon Corp now owns 1,358,843 shares of the energy company’s stock valued at $7,827,000 after acquiring an additional 44,401 shares during the period. Private Advisor Group LLC raised its holdings in FuelCell Energy by 134.3% in the 1st quarter. Private Advisor Group LLC now owns 34,600 shares of the energy company’s stock valued at $200,000 after acquiring an additional 19,832 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in FuelCell Energy by 50.4% in the 1st quarter. MetLife Investment Management LLC now owns 191,038 shares of the energy company’s stock valued at $1,100,000 after acquiring an additional 63,986 shares during the period. 42.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FCEL shares. KeyCorp reaffirmed a “sector weight” rating on shares of FuelCell Energy in a research note on Thursday, June 2nd. 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 note on Friday, June 10th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.00.

About FuelCell Energy

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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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