FuelCell Energy (NASDAQ:FCEL) Announces Earnings Results

FuelCell Energy (NASDAQ:FCEL) released its quarterly earnings data on Wednesday. The energy company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.23), FiscalAI reports. FuelCell Energy had a negative return on equity of 15.90% and a negative net margin of 132.41%.The business had revenue of $33.00 million for the quarter, compared to analysts’ expectations of $38.78 million.

FuelCell Energy Price Performance

NASDAQ FCEL opened at $17.08 on Wednesday. FuelCell Energy has a 1 year low of $3.81 and a 1 year high of $37.88. The business’s fifty day moving average is $21.82 and its two-hundred day moving average is $15.82. The stock has a market capitalization of $1.37 billion, a P/E ratio of -2.60 and a beta of 2.35. The company has a debt-to-equity ratio of 0.18, a quick ratio of 7.20 and a current ratio of 8.59.

Insider Activity

In other news, EVP Shankar Achanta sold 2,500 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $28.71, for a total transaction of $71,775.00. Following the sale, the executive vice president directly owned 2,618 shares of the company’s stock, valued at $75,162.78. The trade was a 48.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.46% of the stock is owned by insiders.

Institutional Trading of FuelCell Energy

Several institutional investors and hedge funds have recently bought and sold shares of FCEL. Invesco Ltd. increased its position in shares of FuelCell Energy by 75.4% in the fourth quarter. Invesco Ltd. now owns 1,505,430 shares of the energy company’s stock worth $11,005,000 after acquiring an additional 647,151 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of FuelCell Energy by 14.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,219,600 shares of the energy company’s stock worth $8,915,000 after buying an additional 150,600 shares during the period. Vanguard Group Inc. raised its position in FuelCell Energy by 2.3% during the third quarter. Vanguard Group Inc. now owns 1,073,609 shares of the energy company’s stock valued at $8,374,000 after buying an additional 23,981 shares during the period. Trexquant Investment LP lifted its stake in FuelCell Energy by 162.3% in the 4th quarter. Trexquant Investment LP now owns 894,800 shares of the energy company’s stock worth $6,541,000 after acquiring an additional 553,660 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of FuelCell Energy in the 3rd quarter valued at about $5,348,000. Institutional investors and hedge funds own 42.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. KeyCorp reiterated a “sector weight” rating on shares of FuelCell Energy in a report on Tuesday, June 9th. B. Riley Financial upgraded FuelCell Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $32.00 in a research report on Monday, June 29th. Weiss Ratings restated a “sell (d-)” rating on shares of FuelCell Energy in a research report on Monday, August 17th. Canaccord Genuity Group lifted their target price on FuelCell Energy from $12.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Finally, UBS Group raised FuelCell Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $22.00 to $27.00 in a report on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, FuelCell Energy presently has an average rating of “Hold” and a consensus target price of $22.83.

FuelCell Energy Company Profile

FuelCell Energy, Inc (NASDAQ: FCEL) is a publicly traded company that designs, manufactures and operates turnkey molten carbonate fuel cell power plants. These stationary, on-site energy solutions generate electricity and heat through an electrochemical process that combines natural gas or biogas with oxygen, producing power with lower greenhouse gas emissions than traditional fossil fuel-based generation. The company’s fuel cell technology is engineered for continuous, baseload operation and can be integrated into microgrid architectures and industrial power systems to provide reliable, around-the-clock energy.

The company’s core product suite, marketed under the SureSource brand, encompasses both power generation and integrated carbon capture or hydrogen production capabilities.