FuelCell Energy (NASDAQ:FCEL) Releases Quarterly Earnings Results

Key Points

• FuelCell Energy reported a quarterly earnings of ($0.95) per share, exceeding analysts' expectations of ($1.59) by $0.64 despite a negative return on equity of 21.16% and a net margin of 108.52%.
• Shares of FuelCell Energy saw an increase of 4.2% on Tuesday, with the stock opening at $4.22 and a market cap of $96.17 million.
• Analysts have set a new price target for FuelCell Energy at $8.00, down from $9.00, with a consensus rating of "Reduce."

FuelCell Energy (NASDAQ:FCEL - Get Free Report) issued its earnings results on Tuesday. The energy company reported ($3.78) EPS for the quarter, missing the consensus estimate of ($1.59) by ($2.19), RTT News reports. The firm had revenue of $46.74 million during the quarter, compared to analyst estimates of $48.30 million. FuelCell Energy had a negative net margin of 130.81% and a negative return on equity of 20.53%. During the same quarter in the prior year, the business earned ($1.94) earnings per share.

FuelCell Energy Stock Up 6.3%

NASDAQ FCEL traded up $0.41 during trading hours on Friday, hitting $6.87. The company's stock had a trading volume of 4,659,277 shares, compared to its average volume of 1,454,583. FuelCell Energy has a 52 week low of $3.58 and a 52 week high of $16.09. The company has a market capitalization of $156.57 million, a PE ratio of -0.75 and a beta of 4.13. The company has a current ratio of 5.37, a quick ratio of 3.82 and a debt-to-equity ratio of 0.21. The company's 50-day simple moving average is $4.76 and its two-hundred day simple moving average is $4.98.

Wall Street Analyst Weigh In

Separately, B. Riley reduced their target price on FuelCell Energy from $9.00 to $8.00 and set a "neutral" rating for the company in a research note on Friday, June 13th. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $9.86.

Hedge Funds Weigh In On FuelCell Energy

Several large investors have recently added to or reduced their stakes in FCEL. Bank of America Corp DE lifted its position in shares of FuelCell Energy by 31.9% during the 2nd quarter. Bank of America Corp DE now owns 18,351 shares of the energy company's stock worth $103,000 after buying an additional 4,435 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of FuelCell Energy by 638.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 19,016 shares of the energy company's stock worth $107,000 after buying an additional 16,440 shares in the last quarter. Marshall Wace LLP bought a new position in shares of FuelCell Energy during the 2nd quarter worth approximately $122,000. Rhumbline Advisers lifted its position in shares of FuelCell Energy by 21.1% during the 1st quarter. Rhumbline Advisers now owns 32,012 shares of the energy company's stock worth $147,000 after buying an additional 5,585 shares in the last quarter. Finally, Brevan Howard Capital Management LP bought a new position in shares of FuelCell Energy during the 2nd quarter worth approximately $216,000. Institutional investors own 42.78% of the company's stock.

FuelCell Energy Company Profile

FuelCell Energy, Inc, together with its subsidiaries, manufactures and sells stationary fuel cell and electrolysis platforms that decarbonize power and produce hydrogen. The company provides various configurations and applications of its platform, including on-site power, utility grid support, and microgrid, as well as distributed hydrogen; solid oxide-based electrolysis; solutions for long duration hydrogen-based energy storage and electrolysis technology; and carbon capture, separation, and utilization systems.