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

FuelCell Energy (NASDAQ:FCEL) issued its quarterly earnings data 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 return on equity of 18.42% and a negative net margin of 79.13%. The firm had revenue of $25.50 million during the quarter, compared to the consensus estimate of $27.68 million. During the same period last year, the company earned ($0.08) EPS. The company’s quarterly revenue was down 40.8% on a year-over-year basis.

FuelCell Energy Stock Down 2.9 %

Shares of NASDAQ FCEL opened at $1.35 on Wednesday. The stock has a market cap of $549.13 million, a P/E ratio of -4.09 and a beta of 3.69. The business’s fifty day simple moving average is $1.86 and its 200-day simple moving average is $2.26. FuelCell Energy has a 12-month low of $1.31 and a 12-month high of $4.49. The company has a current ratio of 7.22, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12.

Institutional Investors Weigh In On FuelCell Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. West Michigan Advisors LLC purchased a new position in shares of FuelCell Energy during the 1st quarter worth approximately $28,000. NewEdge Advisors LLC purchased a new stake in shares of FuelCell Energy in the first quarter valued at about $62,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of FuelCell Energy in the fourth quarter valued at approximately $30,000. Fermata Advisors LLC acquired a new stake in shares of FuelCell Energy in the second quarter valued at approximately $25,000. Finally, Sei Investments Co. purchased a new position in shares of FuelCell Energy during the 1st quarter worth approximately $34,000. 47.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FCEL has been the topic of several recent analyst reports. Craig Hallum decreased their price objective on shares of FuelCell Energy from $3.00 to $2.50 in a report on Friday, June 9th. Wells Fargo & Company dropped their price objective on FuelCell Energy from $1.50 to $1.00 and set an “underweight” rating for the company in a research note on Tuesday. Finally, B. Riley cut their price objective on FuelCell Energy from $4.00 to $2.50 in a 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.