FuelCell Energy (NASDAQ:FCEL) Issues Earnings Results, Misses Expectations By $0.01 EPS

FuelCell Energy (NASDAQ:FCEL) released its quarterly earnings results on Monday. The energy company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01), FiscalAI reports. FuelCell Energy had a negative net margin of 107.51% and a negative return on equity of 17.76%.

FuelCell Energy Price Performance

FCEL opened at $17.33 on Monday. FuelCell Energy has a 1-year low of $3.78 and a 1-year high of $27.69. The company has a 50-day moving average of $13.92 and a 200-day moving average of $9.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.51 and a current ratio of 7.96. The company has a market capitalization of $918.14 million, a P/E ratio of -2.51 and a beta of 2.42.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. boosted its holdings in shares of FuelCell Energy by 75.4% in the 4th quarter. Invesco Ltd. now owns 1,505,430 shares of the energy company’s stock valued at $11,005,000 after buying an additional 647,151 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of FuelCell Energy in the 4th quarter valued at about $329,000. Oxford Asset Management LLP acquired a new position in shares of FuelCell Energy in the 4th quarter valued at about $139,000. Millennium Management LLC boosted its holdings in shares of FuelCell Energy by 140.6% in the 4th quarter. Millennium Management LLC now owns 319,764 shares of the energy company’s stock valued at $2,337,000 after buying an additional 186,878 shares during the period. Finally, Engineers Gate Manager LP boosted its stake in FuelCell Energy by 676.6% during the 4th quarter. Engineers Gate Manager LP now owns 88,908 shares of the energy company’s stock valued at $650,000 after purchasing an additional 77,460 shares during the period. 42.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on FCEL. Jefferies Financial Group set a $7.20 target price on shares of FuelCell Energy and gave the stock a “hold” rating in a research report on Tuesday, March 10th. Wells Fargo & Company dropped their target price on shares of FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Tuesday, March 10th. Finally, Weiss Ratings raised shares of FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. Seven analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $8.24.

About FuelCell Energy

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.