FuelCell Energy (NASDAQ:FCEL) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

FuelCell Energy (NASDAQ:FCEL) announced its earnings results on Tuesday. The energy company reported ($1.42) EPS for the quarter, beating the consensus estimate of ($1.52) by $0.10, Zacks reports. FuelCell Energy had a negative net margin of 113.09% and a negative return on equity of 18.58%. The company had revenue of $19.00 million during the quarter, compared to the consensus estimate of $35.37 million. During the same quarter in the prior year, the company posted ($1.25) earnings per share.

FuelCell Energy Stock Performance

Shares of FCEL opened at $6.85 on Thursday. FuelCell Energy has a 1 year low of $5.12 and a 1 year high of $37.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.01 and a quick ratio of 4.48. The stock’s fifty day moving average price is $8.15 and its two-hundred day moving average price is $9.83. The firm has a market cap of $144.84 million, a PE ratio of -0.87 and a beta of 3.71.

Analyst Upgrades and Downgrades

Several research firms have commented on FCEL. UBS Group decreased their price objective on shares of FuelCell Energy from $15.00 to $13.75 and set a “neutral” rating for the company in a research note on Tuesday, December 3rd. Canaccord Genuity Group reiterated a “hold” rating and set a $12.00 price target on shares of FuelCell Energy in a report on Friday, December 20th. B. Riley cut their price objective on FuelCell Energy from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday. Wells Fargo & Company decreased their target price on FuelCell Energy from $30.00 to $5.00 and set an “underweight” rating for the company in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group cut their price target on shares of FuelCell Energy from $15.00 to $8.40 and set a “hold” rating on the stock in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.03.

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.