FuelCell Energy (NASDAQ:FCEL) Releases Earnings Results

FuelCell Energy (NASDAQ:FCEL) posted its quarterly earnings results on Thursday. The energy company reported ($0.85) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.19, RTT News reports. The business had revenue of $55.02 million for the quarter, compared to analyst estimates of $47.23 million. FuelCell Energy had a negative return on equity of 20.53% and a negative net margin of 130.81%.During the same quarter in the previous year, the firm earned ($1.99) EPS.

FuelCell Energy Stock Performance

Shares of FuelCell Energy stock opened at $7.90 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.37 and a quick ratio of 3.85. The stock has a market capitalization of $255.09 million, a price-to-earnings ratio of -0.86 and a beta of 1.17. The business has a 50-day moving average of $7.89 and a 200 day moving average of $6.56. FuelCell Energy has a 12 month low of $3.58 and a 12 month high of $13.98.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FCEL shares. Weiss Ratings restated a “sell (d-)” rating on shares of FuelCell Energy in a research report on Monday. UBS Group raised their target price on FuelCell Energy from $4.50 to $7.25 and gave the stock a “neutral” rating in a research note on Wednesday, September 17th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $12.00 price target on shares of FuelCell Energy in a research note on Monday, September 15th. Finally, Zacks Research raised shares of FuelCell Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, FuelCell Energy presently has a consensus rating of “Hold” and an average target price of $9.53.

Hedge Funds Weigh In On FuelCell Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lighthouse Investment Partners LLC purchased a new position in FuelCell Energy in the third quarter valued at $1,443,000. Virtu Financial LLC purchased a new position in shares of FuelCell Energy in the 3rd quarter valued at about $380,000. Man Group plc acquired a new position in shares of FuelCell Energy during the third quarter worth about $481,000. Bridgeway Capital Management LLC purchased a new stake in shares of FuelCell Energy during the third quarter worth approximately $250,000. Finally, Squarepoint Ops LLC increased its stake in shares of FuelCell Energy by 110.1% during the third quarter. Squarepoint Ops LLC now owns 24,570 shares of the energy company’s stock worth $192,000 after buying an additional 268,894 shares during the period. Hedge funds and other institutional investors own 42.78% of the company’s stock.

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.