FY2024 EPS Estimates for FuelCell Energy Boosted by Analyst

FuelCell Energy, Inc. (NASDAQ:FCEL) – Equities research analysts at B. Riley lifted their FY2024 earnings per share (EPS) estimates for shares of FuelCell Energy in a report issued on Monday, November 4th. B. Riley analyst R. Pfingst now forecasts that the energy company will post earnings per share of ($0.24) for the year, up from their prior 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 announced its earnings results on Thursday, September 5th. The energy company reported ($0.07) EPS for the quarter, meeting analysts’ consensus estimates of ($0.07). The firm had revenue of $23.70 million for the quarter, compared to analysts’ expectations of $23.22 million. FuelCell Energy had a negative net margin of 135.76% and a negative return on equity of 17.02%. During the same quarter in the previous year, the business posted ($0.06) EPS.

A number of other research analysts have also weighed in on the company. Canaccord Genuity Group reduced their price objective on FuelCell Energy from $1.50 to $1.25 and set a “hold” rating for the company in a research report on Friday, September 6th. UBS Group cut their price objective on shares of FuelCell Energy from $1.35 to $0.50 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th.

FuelCell Energy Trading Down 15.1 %

NASDAQ:FCEL opened at $0.29 on Thursday. The firm has a market capitalization of $163.80 million, a P/E ratio of -1.13 and a beta of 3.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.91 and a quick ratio of 4.97. FuelCell Energy has a one year low of $0.29 and a one year high of $1.84. The company’s 50-day simple moving average is $0.38 and its 200 day simple moving average is $0.58.

FuelCell Energy shares are set to reverse split before the market opens on 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 Investors Weigh In On FuelCell Energy

Institutional investors have recently modified their holdings of the business. Bogart Wealth LLC boosted its holdings in shares of FuelCell Energy by 21,285.7% during the 3rd quarter. Bogart Wealth LLC now owns 112,275 shares of the energy company’s stock valued at $43,000 after acquiring an additional 111,750 shares during the last quarter. SG Americas Securities LLC lifted its position in FuelCell Energy by 156.6% during the third 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 period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in FuelCell Energy by 21.6% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,199,135 shares of the energy company’s stock worth $766,000 after purchasing an additional 213,016 shares during the last quarter. Algert Global LLC bought a new stake in FuelCell Energy in the 2nd quarter worth approximately $29,000. Finally, AQR Capital Management LLC raised its stake in FuelCell Energy by 106.0% during the 2nd quarter. AQR Capital Management LLC now owns 50,952 shares of the energy company’s stock valued at $33,000 after buying an additional 26,223 shares during the last quarter. 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.