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

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

FuelCell Energy Stock Performance

FCEL 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. The company has a debt-to-equity ratio of 0.12, a current ratio of 7.22 and a quick ratio of 5.83. The company has a market capitalization of $549.13 million, a price-to-earnings ratio of -4.09 and a beta of 3.69. FuelCell Energy has a 1-year low of $1.31 and a 1-year high of $4.49.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On FuelCell Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FCEL. BlackRock Inc. lifted its position in shares of FuelCell Energy by 7.4% during the 2nd quarter. BlackRock Inc. now owns 42,420,849 shares of the energy company’s stock valued at $91,629,000 after acquiring an additional 2,931,647 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of FuelCell Energy by 5.9% during the 3rd quarter. Vanguard Group Inc. now owns 34,242,401 shares of the energy company’s stock valued at $116,766,000 after acquiring an additional 1,902,915 shares during the last quarter. State Street Corp lifted its position in shares of FuelCell Energy by 3.6% during the 1st quarter. State Street Corp now owns 13,302,334 shares of the energy company’s stock valued at $37,912,000 after acquiring an additional 465,165 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of FuelCell Energy by 6.8% during the 2nd quarter. Geode Capital Management LLC now owns 8,714,090 shares of the energy company’s stock valued at $18,822,000 after acquiring an additional 552,669 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of FuelCell Energy by 15.2% during the 4th quarter. Legal & General Group Plc now owns 7,472,349 shares of the energy company’s stock valued at $20,773,000 after acquiring an additional 988,556 shares during the last quarter. 47.90% of the stock is owned by institutional investors.

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.