FuelCell Energy (NASDAQ:FCEL) Posts Earnings Results, Misses Estimates By $0.23 EPS

Key Points

• FuelCell Energy reported a larger-than-expected quarterly loss of $0.64 per share, missing the $0.41 consensus estimate by $0.23. Revenue was $33.0 million, below analysts’ $38.78 million forecast.
• The company’s stock opened at $17.08, with a market capitalization of approximately $1.37 billion. FuelCell Energy reported a negative net margin of 132.41% and negative return on equity of 15.90%.
• Analyst sentiment remains mixed: four analysts rate the stock Buy, three Hold, and two Sell, producing a consensus rating of Hold and an average price target of $22.83. An executive also sold 2,500 shares, while institutional investors own 42.78% of the company.

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

FuelCell Energy Stock Performance

FCEL opened at $17.08 on Wednesday. The firm has a market capitalization of $1.37 billion, a P/E ratio of -2.60 and a beta of 2.35. The stock's 50 day moving average price is $21.82 and its two-hundred day moving average price is $15.82. The company has a quick ratio of 7.20, a current ratio of 8.59 and a debt-to-equity ratio of 0.18. FuelCell Energy has a 12-month low of $3.81 and a 12-month high of $37.88.

Insider Buying and Selling

In other news, EVP Shankar Achanta sold 2,500 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 2,618 shares in the company, valued at $75,162.78. The trade was a 48.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.46% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FuelCell Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers raised its stake in FuelCell Energy by 21.1% during the 1st quarter. Rhumbline Advisers now owns 32,012 shares of the energy company's stock valued at $147,000 after purchasing an additional 5,585 shares during the last quarter. Marshall Wace LLP acquired a new stake in FuelCell Energy in the 2nd quarter worth $122,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in FuelCell Energy by 6.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 334,793 shares of the energy company's stock worth $1,877,000 after purchasing an additional 19,857 shares during the last quarter. Bank of America Corp DE grew its position in FuelCell Energy by 31.9% in the 2nd quarter. Bank of America Corp DE now owns 18,351 shares of the energy company's stock worth $103,000 after purchasing an additional 4,435 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new position in shares of FuelCell Energy during the 2nd quarter worth about $216,000. Institutional investors own 42.78% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on FCEL shares. Canaccord Genuity Group increased their price target on FuelCell Energy from $12.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, June 9th. UBS Group upgraded shares of FuelCell Energy from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $22.00 to $27.00 in a research note on Tuesday, July 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of FuelCell Energy in a report on Monday, August 17th. KeyCorp reiterated a "sector weight" rating on shares of FuelCell Energy in a research note on Tuesday, June 9th. Finally, TD Cowen reiterated a "hold" rating and issued a $16.00 target price (up from $9.00) on shares of FuelCell Energy in a report on Tuesday, June 9th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source