FuelCell Energy (NASDAQ:FCEL) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

FuelCell Energy (NASDAQ:FCEL) announced its quarterly earnings results on Thursday. The energy company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03, Briefing.com reports. The business had revenue of $16.69 million for the quarter, compared to analyst estimates of $25.74 million. FuelCell Energy had a negative return on equity of 15.88% and a negative net margin of 105.56%. The company’s quarterly revenue was down 55.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) EPS.

FuelCell Energy Trading Up 1.8 %

Shares of NASDAQ:FCEL opened at $1.13 on Friday. The business’s 50 day simple moving average is $1.27 and its 200-day simple moving average is $1.29. The company has a debt-to-equity ratio of 0.17, a current ratio of 7.23 and a quick ratio of 5.95. FuelCell Energy has a 12 month low of $0.98 and a 12 month high of $4.02.

Institutional Investors Weigh In On FuelCell Energy

Several institutional investors have recently modified their holdings of FCEL. JPMorgan Chase & Co. raised its position in shares of FuelCell Energy by 3.8% during the 1st quarter. JPMorgan Chase & Co. now owns 531,319 shares of the energy company’s stock worth $3,061,000 after purchasing an additional 19,633 shares during the last quarter. Raymond James & Associates raised its position in shares of FuelCell Energy by 203.1% during the 1st quarter. Raymond James & Associates now owns 128,858 shares of the energy company’s stock worth $742,000 after purchasing an additional 86,344 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of FuelCell Energy by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,358,843 shares of the energy company’s stock worth $7,827,000 after purchasing an additional 44,401 shares during the last quarter. Private Advisor Group LLC raised its position in shares of FuelCell Energy by 134.3% during the 1st quarter. Private Advisor Group LLC now owns 34,600 shares of the energy company’s stock worth $200,000 after purchasing an additional 19,832 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of FuelCell Energy by 50.4% during the 1st quarter. MetLife Investment Management LLC now owns 191,038 shares of the energy company’s stock worth $1,100,000 after purchasing an additional 63,986 shares during the last quarter. Hedge funds and other institutional investors own 47.90% of the company’s stock.

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.