FuelCell Energy (NASDAQ:FCEL) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

FuelCell Energy (NASDAQ:FCEL) released its quarterly earnings data on Monday. The energy company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02, Briefing.com reports. FuelCell Energy had a negative return on equity of 18.42% and a negative net margin of 79.13%. The company had revenue of $25.50 million for the quarter, compared to analyst estimates of $27.68 million. During the same period in the previous year, the company posted ($0.08) EPS. The firm’s revenue for the quarter was down 40.8% compared to the same quarter last year.

FuelCell Energy Trading Down 2.9 %

Shares of FCEL stock opened at $1.35 on Wednesday. The business has a 50-day moving average price of $1.86 and a two-hundred day moving average price of $2.26. FuelCell Energy has a 12-month low of $1.31 and a 12-month high of $4.49. The company has a quick ratio of 5.83, a current ratio of 7.22 and a debt-to-equity ratio of 0.12. The firm has a market cap of $549.13 million, a P/E ratio of -4.09 and a beta of 3.69.

Institutional Trading of FuelCell Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fermata Advisors LLC purchased a new position in shares of FuelCell Energy in the second quarter worth $25,000. West Michigan Advisors LLC bought a new position in shares of FuelCell Energy during the first quarter valued at about $28,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of FuelCell Energy during the fourth quarter worth about $30,000. Freestone Capital Holdings LLC purchased a new position in FuelCell Energy during the 4th quarter valued at about $33,000. Finally, Sei Investments Co. bought a new position in FuelCell Energy during the 1st quarter valued at approximately $34,000. Hedge funds and other institutional investors own 47.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FCEL. Craig Hallum cut their price objective on shares of FuelCell Energy from $3.00 to $2.50 in a research report on Friday, June 9th. Wells Fargo & Company decreased their price target on shares of FuelCell Energy from $1.50 to $1.00 and set an “underweight” rating on the stock in a report on Tuesday. Finally, B. Riley reduced their target price on FuelCell Energy from $4.00 to $2.50 in a research report on Tuesday, June 27th.

FuelCell Energy Company Profile

FuelCell Energy, Inc, together with its subsidiaries, manufactures and sells stationary fuel cell energy platforms that decarbonize power and produce hydrogen. It offers SureSource 1500, 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.