FuelCell Energy, Inc. Expected to Post Q3 2024 Earnings of ($0.08) Per Share (NASDAQ:FCEL)

FuelCell Energy, Inc. (NASDAQ:FCEL) – Investment analysts at B. Riley upped their Q3 2024 earnings estimates for FuelCell Energy in a research note issued to investors on Tuesday, June 11th. B. Riley analyst C. Souther now forecasts that the energy company will earn ($0.08) per share for the quarter, up from their previous forecast of ($0.09). The consensus estimate for FuelCell Energy’s current full-year earnings is ($0.26) per share. B. Riley also issued estimates for FuelCell Energy’s Q4 2024 earnings at ($0.06) EPS, FY2024 earnings at ($0.26) EPS and FY2025 earnings at ($0.24) EPS.

FuelCell Energy (NASDAQ:FCEL) last announced its earnings results on Monday, June 10th. The energy company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. FuelCell Energy had a negative net margin of 123.30% and a negative return on equity of 15.66%. The business had revenue of $22.42 million during the quarter, compared to analysts’ expectations of $22.12 million. During the same period in the prior year, the company earned ($0.09) earnings per share.

FuelCell Energy Price Performance

Shares of NASDAQ:FCEL opened at $0.82 on Thursday. The company has a 50-day simple moving average of $0.91 and a 200-day simple moving average of $1.15. FuelCell Energy has a one year low of $0.64 and a one year high of $2.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.35 and a current ratio of 6.55. The stock has a market capitalization of $407.43 million, a price-to-earnings ratio of -3.28 and a beta of 3.56.

Institutional Investors Weigh In On FuelCell Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in FuelCell Energy by 7.5% during the third quarter. Vanguard Group Inc. now owns 40,976,982 shares of the energy company’s stock worth $52,451,000 after purchasing an additional 2,873,655 shares in the last quarter. Invesco Ltd. raised its holdings in FuelCell Energy by 33.0% during the third quarter. Invesco Ltd. now owns 7,579,525 shares of the energy company’s stock worth $9,702,000 after purchasing an additional 1,880,397 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in FuelCell Energy by 130.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,576,467 shares of the energy company’s stock worth $4,122,000 after purchasing an additional 1,456,826 shares in the last quarter. Caxton Associates LP raised its holdings in FuelCell Energy by 212.0% during the fourth quarter. Caxton Associates LP now owns 1,457,980 shares of the energy company’s stock worth $2,333,000 after purchasing an additional 990,648 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in FuelCell Energy by 66.0% during 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 buying an additional 574,042 shares during the period. 42.78% of the stock is owned by hedge funds and other institutional investors.

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.