FuelCell Energy (NASDAQ:FCEL – Get 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
About FuelCell Energy
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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