FY2024 EPS Estimates for FuelCell Energy Raised by Analyst

FuelCell Energy, Inc. (NASDAQ:FCEL) – Equities researchers at B. Riley upped their FY2024 earnings estimates for FuelCell Energy in a note issued to investors on Monday, November 4th. B. Riley analyst R. Pfingst now anticipates that the energy company will post earnings of ($0.24) per share for the year, up from their previous forecast of ($0.26). The consensus estimate for FuelCell Energy’s current full-year earnings is ($0.25) per share. B. Riley also issued estimates for FuelCell Energy’s Q4 2024 earnings at ($0.05) EPS and FY2025 earnings at ($0.19) EPS.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings results on Thursday, September 5th. The energy company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). FuelCell Energy had a negative return on equity of 17.02% and a negative net margin of 135.76%. The firm had revenue of $23.70 million during the quarter, compared to analyst estimates of $23.22 million. During the same period last year, the company earned ($0.06) earnings per share.

Other analysts have also recently issued research reports about the stock. Canaccord Genuity Group lowered their price objective on shares of FuelCell Energy from $1.50 to $1.25 and set a “hold” rating on the stock in a research report on Friday, September 6th. UBS Group decreased their price target on FuelCell Energy from $1.35 to $0.50 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th.

FuelCell Energy Stock Down 15.1 %

Shares of NASDAQ FCEL opened at $0.29 on Thursday. The business has a 50-day simple moving average of $0.38 and a two-hundred day simple moving average of $0.58. FuelCell Energy has a 52 week low of $0.29 and a 52 week high of $1.84. The company has a market cap of $163.80 million, a P/E ratio of -1.13 and a beta of 3.91. The company has a quick ratio of 4.97, a current ratio of 6.91 and a debt-to-equity ratio of 0.18.

Shares of FuelCell Energy are set to reverse split on the morning of Monday, November 11th. The 1-30 reverse split was announced on Thursday, November 7th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, November 8th.

Institutional Trading of FuelCell Energy

A number of institutional investors have recently modified their holdings of FCEL. SG Americas Securities LLC raised its position in FuelCell Energy by 156.6% during the 3rd quarter. SG Americas Securities LLC now owns 4,708,109 shares of the energy company’s stock valued at $1,789,000 after purchasing an additional 2,873,171 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of FuelCell Energy by 7.3% during the second quarter. Bank of New York Mellon Corp now owns 1,677,126 shares of the energy company’s stock valued at $1,071,000 after acquiring an additional 114,267 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in FuelCell Energy by 66.0% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,443,666 shares of the energy company’s stock worth $1,718,000 after acquiring an additional 574,042 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in FuelCell Energy by 43.8% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,268,856 shares of the energy company’s stock valued at $811,000 after purchasing an additional 386,751 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in FuelCell Energy by 21.6% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,199,135 shares of the energy company’s stock valued at $766,000 after purchasing an additional 213,016 shares during the period. 42.78% of the stock is currently owned by hedge funds and other institutional investors.

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.