FuelCell Energy (NASDAQ:FCEL) Stock Price Down 22.9% After Earnings Miss

FuelCell Energy Inc (NASDAQ:FCEL)’s stock price dropped 22.9% on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $2.02 and last traded at $2.22, approximately 74,436,250 shares changed hands during trading. An increase of 86% from the average daily volume of 40,053,684 shares. The stock had previously closed at $2.88.

The energy company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). FuelCell Energy had a negative net margin of 127.68% and a negative return on equity of 69.85%. The business had revenue of $11.04 million during the quarter, compared to the consensus estimate of $8.90 million. During the same quarter last year, the company posted ($2.28) EPS.

FCEL has been the topic of a number of research analyst reports. ValuEngine upgraded FuelCell Energy from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Craig Hallum lowered FuelCell Energy from a “hold” rating to a “sell” rating and set a $1.50 price objective on the stock. in a report on Thursday. Zacks Investment Research lowered FuelCell Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, BidaskClub raised FuelCell Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $1.67.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. TSP Capital Management Group LLC acquired a new position in FuelCell Energy in the 4th quarter valued at $4,029,000. F3Logic LLC acquired a new position in FuelCell Energy in the 4th quarter valued at $182,000. Squarepoint Ops LLC grew its holdings in FuelCell Energy by 1,562.5% in the 3rd quarter. Squarepoint Ops LLC now owns 651,090 shares of the energy company’s stock valued at $213,000 after buying an additional 611,926 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in FuelCell Energy in the 2nd quarter valued at $27,000. 4.73% of the stock is currently owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.37 and a current ratio of 0.97. The business has a fifty day simple moving average of $1.51 and a 200 day simple moving average of $0.69. The stock has a market capitalization of $429.81 million, a price-to-earnings ratio of -0.28 and a beta of 2.59.

FuelCell Energy Company Profile (NASDAQ:FCEL)

FuelCell Energy, Inc, together with its subsidiaries, designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed power generation. The company offers SureSource product line based on carbonate fuel cell technology in various configurations, including on-site power, utility grid support, distributed hydrogen, and micro-grid, as well as multi-megawatt applications; and SureSource Recovery power plants for natural gas pipeline applications.

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