FuelCell Energy (NASDAQ:FCEL) Issues Quarterly Earnings Results

FuelCell Energy (NASDAQ:FCEL) announced its quarterly earnings data on Wednesday. The energy company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $33.00 million during the quarter, compared to the consensus estimate of $38.78 million.

FuelCell Energy Trading Down 0.9%

FCEL stock 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 firm has a market cap of $1.37 billion, a P/E ratio of -2.60 and a beta of 2.35. The business’s 50 day moving average is $21.82 and its 200-day moving average is $15.82. The company has a current ratio of 8.59, a quick ratio of 7.20 and a debt-to-equity ratio of 0.18.

Insider Activity at FuelCell Energy

In related news, EVP Shankar Achanta sold 2,500 shares of the firm’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 owned 2,618 shares in the company, valued at $75,162.78. This trade represents a 48.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.46% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC bought a new stake in shares of FuelCell Energy in the 4th quarter worth about $29,000. Bank of America Corp DE increased 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 purchasing an additional 4,435 shares in the last quarter. Rhumbline Advisers lifted its holdings 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. Caitong International Asset Management Co. Ltd lifted its holdings in FuelCell Energy by 1,316.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock valued at $59,000 after purchasing an additional 7,080 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in FuelCell Energy in the fourth quarter valued at about $78,000. 42.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FCEL. Wall Street Zen cut FuelCell Energy from a “hold” rating to a “sell” rating in a research report on Sunday, August 9th. B. Riley Financial raised FuelCell Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $13.00 to $32.00 in a research report on Monday, June 29th. Canaccord Genuity Group lifted their price target on shares of FuelCell Energy from $12.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. KeyCorp reissued a “sector weight” rating on shares of FuelCell Energy in a report on Tuesday, June 9th. Finally, TD Cowen restated a “hold” rating and issued a $16.00 price objective (up from $9.00) on shares of FuelCell Energy in a research note on Tuesday, June 9th. Four 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.com, FuelCell Energy presently has a consensus rating of “Hold” and an average 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.