#2 - FuelCell (NASDAQ:FCEL)
On June 12, FuelCell (NASDAQ: FCEL) posted revenue that was 21% higher than analysts’ expectations. But the company delivered earnings per share (EPS) that met expectations with a loss of 7 cents per share. As these things usually go, FCEL stock jumped over 20% on the report.
The stock has since come down a little bit. However, what must be encouraging to investors is that the stock has hit a higher low before starting to increase. It’s too early to say whether the stock is in an uptrend, but there may be a couple of catalysts. First, FuelCell may benefit from two new programs from the Department of Energy (DOE). The DOE is planning to invest $100 million over five years in the programs which “advance hydrogen and fuel cell technologies research and development (R&D).”
The DOE also announced it will begin accepting proposal requests regarding a separate, potentially $24 million project to support its “H2@Scale” initiative.
In its earnings report, FuelCell’s Advanced Technologies business continued to show strength, posting a profit of $200,000 in the quarter. This segment of the business is tied to the company’s partnership with ExxonMobil (NYSE:XOM).
About FuelCell Energy
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.
Read More - Current Price
- $0.90
- Consensus Rating
- Reduce
- Ratings Breakdown
- 0 Buy Ratings, 1 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $2.00 (122.2% Upside)
