FuelCell Energy (NASDAQ:FCEL) Posts Quarterly Earnings Results

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

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 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. The company has a current ratio of 7.41, a quick ratio of 6.38 and a debt-to-equity ratio of 0.11.

Hedge Funds Weigh In On FuelCell Energy

Large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. bought a new stake in shares of FuelCell Energy in the 2nd quarter valued at about $62,000. NewEdge Advisors LLC bought a new stake in shares of FuelCell Energy in the 1st quarter valued at about $62,000. Federated Hermes Inc. bought a new stake in shares of FuelCell Energy in the 1st quarter valued at about $85,000. Mackenzie Financial Corp raised its holdings in shares of FuelCell Energy by 26.1% in the 1st quarter. Mackenzie Financial Corp now owns 18,305 shares of the energy company’s stock valued at $105,000 after purchasing an additional 3,788 shares during the period. Finally, Atria Wealth Solutions Inc. bought a new position in FuelCell Energy in the 1st quarter valued at about $141,000. 42.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on FCEL shares. Craig Hallum dropped their target price 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, June 10th. KeyCorp reissued a “sector weight” rating on shares of FuelCell Energy in a report on Thursday, June 2nd. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, FuelCell Energy presently has a consensus rating of “Hold” and an average price target of $5.00.

FuelCell Energy Company Profile

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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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