FuelCell Energy, Inc. (NASDAQ:FCEL – Get Rating) shares fell 5.6% on Friday following a dissappointing earnings announcement. The stock traded as low as $2.17 and last traded at $2.18. 6,125,793 shares were traded during trading, a decline of 43% from the average session volume of 10,823,136 shares. The stock had previously closed at $2.31.
The energy company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The firm had revenue of $38.40 million for the quarter, compared to the consensus estimate of $25.49 million. FuelCell Energy had a negative net margin of 88.92% and a negative return on equity of 17.49%. The firm’s revenue for the quarter was up 134.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.08) earnings per share.
Analysts Set New Price Targets
Separately, Craig Hallum reduced their price target on shares of FuelCell Energy from $3.00 to $2.50 in a report on Friday.
Institutional Trading of FuelCell Energy
Large investors have recently made changes to their positions in the business. West Michigan Advisors LLC bought a new stake in shares of FuelCell Energy in the 1st quarter worth about $28,000. Kestra Advisory Services LLC bought a new stake in shares of FuelCell Energy in the 4th quarter worth about $28,000. NewEdge Advisors LLC purchased a new position in shares of FuelCell Energy during the 1st quarter worth about $62,000. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of FuelCell Energy during the 4th quarter worth about $30,000. Finally, QCM Cayman Ltd. purchased a new position in shares of FuelCell Energy during the 3rd quarter worth about $38,000. 42.83% of the stock is currently owned by institutional investors.
FuelCell Energy Stock Performance
The company has a current ratio of 7.94, a quick ratio of 6.41 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $2.24 and its 200 day moving average is $2.90. The stock has a market capitalization of $888.55 million, a PE ratio of -6.81 and a beta of 3.69.
About FuelCell Energy
FuelCell Energy, Inc engages in the development, design, production, construction and servicing of high temperature fuel cells for clean electric power generation. It develops turn-key distributed power generation solutions and provides comprehensive services for the life of the power plant. The firm’s fuel cell solution is an alternative to traditional combustion-based power generation and is complementary to an energy mix consisting of intermittent sources of energy, such as solar and wind turbines.