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

FuelCell Energy (NASDAQ:FCEL) posted its quarterly earnings results on Monday. The energy company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $25.50 million for the quarter, compared to analyst estimates of $27.68 million. During the same quarter last year, the business posted ($0.08) EPS. The firm’s revenue for the quarter was down 40.8% on a year-over-year basis.

FuelCell Energy Stock Performance

FuelCell Energy stock opened at $1.35 on Wednesday. The business has a 50 day moving average of $1.86 and a 200-day moving average 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. FuelCell Energy has a 1 year low of $1.31 and a 1 year high of $4.49. The company has a market capitalization of $549.13 million, a P/E ratio of -4.09 and a beta of 3.69.

Hedge Funds Weigh In On FuelCell Energy

Hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC increased its position in FuelCell Energy by 3.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 90,820 shares of the energy company’s stock valued at $309,000 after purchasing an additional 3,137 shares during the period. Mackenzie Financial Corp raised its stake in FuelCell Energy by 26.1% during the first quarter. Mackenzie Financial Corp now owns 18,305 shares of the energy company’s stock worth $105,000 after buying an additional 3,788 shares during the last quarter. Raymond James & Associates lifted its holdings in FuelCell Energy by 3.5% in the fourth quarter. Raymond James & Associates now owns 114,154 shares of the energy company’s stock valued at $317,000 after buying an additional 3,819 shares during the period. Amalgamated Bank boosted its position in FuelCell Energy by 6.9% during the fourth quarter. Amalgamated Bank now owns 63,637 shares of the energy company’s stock valued at $177,000 after acquiring an additional 4,103 shares during the last quarter. Finally, ETF Managers Group LLC grew its holdings in FuelCell Energy by 3.8% during the 4th quarter. ETF Managers Group LLC now owns 123,448 shares of the energy company’s stock worth $343,000 after acquiring an additional 4,492 shares during the period. Institutional investors and hedge funds own 47.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. B. Riley decreased their price target on FuelCell Energy from $4.00 to $2.50 in a research note on Tuesday, June 27th. Craig Hallum decreased their target price on FuelCell Energy from $3.00 to $2.50 in a research report on Friday, June 9th. Finally, Wells Fargo & Company dropped their target price on shares of FuelCell Energy from $1.50 to $1.00 and set an “underweight” rating for the company in a report on Tuesday.

About FuelCell Energy

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.