FuelCell Posts Narrower-Than-Expected Loss but Revenue Slides 41%

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FuelCell Energy, Inc., together with its subsidiaries, manufactures and sells stationary fuel cell energy platforms that decarbonize power and produce hydrogen. Its SureSource power plants generate electricity, heat, hydrogen, and water. In addition, the company provides turn-key solutions, including development, engineering, procurement, construction, interconnection, and operation services. The company primarily operates in the United States, South Korea, England, Germany, and Switzerland. FuelCell Energy, Inc. was founded in 1969 and is headquartered in Danbury, Connecticut.

Company Profile FCEL

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An investor that had 100 shares of stock prior to the reverse split would have 8 shares after the split. Hydrogen is widely viewed as necessary to decarbonize the planet, and the race is on to dominate the market. Given my expectations for further, material dilution going forward, I would abstain from chasing the common shares even with the stock price near multi-year lows. In combination, FuelCell Energy’s service and generation backlog had a weighted average term of approximately 17 years at quarter end. Common shareholder dilution has continued into the current quarter with an additional 2 million shares having been sold into the open market for net proceeds of approximately $4.2 million. For the fiscal year, analysts expect a loss per share of $0.296, compared to $-0.380 in the same period last year.

Business Summary

To date in fiscal year 2023, cash payments for capital expenditures have totaled approximately $28.0 million. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.32% per year. These returns cover a period from January 1, 1988 through July 31, 2023.

The carbonate platforms can also capture CO2 from an external source, utilizing the flue stream of a power plant or an industrial boiler as a replacement for traditional air intake. The company was founded by Bernard Baker and Martin Klein in 1969 and is headquartered in Danbury, CT. The Company continues to advance its solid oxide platform research, including increasing production of solid oxide fuel cell modules and expanding manufacturing capacity. The Company continues to work with INL on a demonstration high-efficiency electrolysis platform.

FuelCell reports a second-quarter loss of 9 cents a share on revenue of $38.3 million. It’s been a tough year for those in the business of shorting stocks, as a feared recession hasn’t arrived, which has allowed the beaten-down of Corporate America to survive, if perhaps not thrive. FuelCell Energy said on Monday it would extend a carbon capture joint development agreement with a unit of Exxon Mobil to March 31 next year. As an investor, you want to buy stocks with the highest probability of success. That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style. The Style Scores are a complementary set of indicators to use alongside the Zacks Rank.

FuelCell Energy’s (FCEL) Q3 Loss Narrows: Buy, Sell, or Hold?

The technique has proven to be very useful for finding positive surprises. In fact, when combining a Zacks Rank #3 or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time, while they also saw 28.3% annual returns on average, according to our 10 year backtest. The scores are based on the trading styles of Value, Growth, and Momentum.

According to 4 analysts, the average rating for FCEL stock is “Hold.” The 12-month stock price forecast is $2.71, which is an increase of 118.55% from the latest price. FuelCell Energy’s stock reverse split before market open on Thursday, May 9th 2019. The 1-12 reverse split was announced on Wednesday, May 8th 2019. The number of shares owned by shareholders was adjusted after the closing bell on Wednesday, May 8th 2019.

FuelCell Energy Q2 per-share loss 9 cents vs. loss 8 cents a year ago; FactSet loss consensus was 8 cents

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, classic chart patterns from our research and data to our policies on content and your personal data. The company is scheduled to release its next quarterly earnings announcement on Tuesday, December 19th 2023.

There are currently 1 sell rating and 4 hold ratings for the stock. The consensus among Wall Street analysts is that investors should “reduce” FCEL shares. 5 equities research analysts have issued 12-month price objectives for FuelCell Energy’s stock. On https://1investing.in/ average, they predict the company’s share price to reach $2.48 in the next twelve months. This suggests a possible upside of 99.6% from the stock’s current price. View analysts price targets for FCEL or view top-rated stocks among Wall Street analysts.

• The race is on to dominate the green hydrogen movement and these companies are in the best position to win the race to decarbonize industry.
• Consequently, near-term revenue growth will require new product sales and/or more large-scale service agreements for legacy fuel cell projects in Korea.
• Top institutional shareholders include BlackRock Inc. (10.43%), State Street Corp (3.08%), Geode Capital Management LLC (2.14%), Dimensional Fund Advisors LP (1.00%), Northern Trust Corp (0.96%) and Great West Life Assurance Co.
• The company was founded in 1969 and is headquartered in Danbury, CT.

There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score. Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated.

The Barchart Technical Opinion widget shows you today’s overally Barchart Opinion with general information on how to interpret the short and longer term signals. Unique to Barchart.com, Opinions analyzes a stock or commodity using 13 popular analytics in short-, medium- and long-term periods. Results are interpreted as buy, sell or hold signals, each with numeric ratings and summarized with an overall percentage buy or sell rating. After each calculation the program assigns a Buy, Sell, or Hold value with the study, depending on where the price lies in reference to the common interpretation of the study.

Sales estimates average $131.8 million, after the previous year saw $ 130.5 million. Penny stocks are commonly defined as stocks that trade for less than $5 per share. Because of their low outstanding share value, penny stocks almost always carry small market capitalizations. As of August 31st, there was short interest totaling 80,120,000 shares, an increase of 16.2% from the August 15th total of 68,950,000 shares.

More value-oriented stocks tend to represent financial services, utilities, and energy stocks. Unfortunately, neither carbon capture nor the solid oxide platforms won’t contribute meaningfully to the company’s financial performance anytime soon which leaves FuelCell Energy mostly dependent on the core molten carbonate fuel cell business for the time being. FCEL charged up 2.7% in premarket trading Monday, after the maker of fuel cell technology platforms said it received an order from Exxon Mobil Corp. For the three months ended July 31, 2023, we operated at an annualized production rate of approximately 28.9 megawatts (“MW”) in our Torrington, CT manufacturing facility, compared to the annualized production rate of 36.5 MW for the three months ended July 31, 2022. The lower annualized production rate for the three months ended July 31, 2023 is primarily a result of reduced staffing in certain production areas during the three months ended July 31, 2023 compared to the three months ended July 31, 2022. The Company continuously evaluates its production rate and staffing levels and has determined that the current levels are sufficient to satisfy the current demand for carbonate fuel cell modules.

Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.

Zacks Earnings ESP (Expected Surprise Prediction) looks to find companies that have recently seen positive earnings estimate revision activity. The idea is that more recent information is, generally speaking, more accurate and can be a better predictor of the future, which can give investors an advantage in earnings season. The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank. We’d like to share more about how we work and what drives our day-to-day business. FCEL’s beta can be found in Trading Information at the top of this page.

For example, a price above its moving average is generally considered an upward trend or a buy. FuelCell designs manufactures, sells, installs, operates, and services fuel cell products, which efficiently convert chemical energy in fuels into electricity through a series of chemical reactions. It serves various industries such as Industrial, Wastewater treatment, Commercial and Hospitality, Data centers and Communications, Education and Healthcare, and others. Geographically, the company generates a majority of its revenue from South Korea followed by the United States.

The balance of approximately 3.4 million shares was settled subsequent to July 31, 2023, resulting in (…) net proceeds of approximately $7.3 million (…). This story was written by Markets Insider’s RoboEddy, which automatically writes these stories based on data provided by our partners. Highlights important summary options statistics to provide a forward looking indication of investors’ sentiment. Provides a general description of the business conducted by this company.