FuelCell Energy (NASDAQ:FCEL) Issues Quarterly Earnings Results, Meets Estimates

FuelCell Energy (NASDAQ:FCEL) announced its earnings results on Thursday. The energy company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07), RTT News reports. FuelCell Energy had a negative net margin of 123.30% and a negative return on equity of 15.66%. The firm had revenue of $23.70 million for the quarter, compared to analyst estimates of $23.22 million. During the same quarter last year, the business earned ($0.06) earnings per share.

FuelCell Energy Price Performance

FuelCell Energy stock opened at $0.44 on Friday. The firm has a fifty day moving average of $0.51 and a 200-day moving average of $0.81. FuelCell Energy has a 52-week low of $0.37 and a 52-week high of $1.84. The company has a quick ratio of 4.80, a current ratio of 6.55 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $217.31 million, a P/E ratio of -1.75 and a beta of 3.87.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. UBS Group cut their price target on shares of FuelCell Energy from $1.35 to $0.50 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Canaccord Genuity Group cut their target price on FuelCell Energy from $1.50 to $1.25 and set a “hold” rating on the stock in a research report on Friday. Finally, B. Riley raised FuelCell Energy to a “hold” rating in a research report on Tuesday, June 25th.

FuelCell Energy Company Profile

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.