FuelCell Energy, Inc. (NASDAQ:FCEL) to Post Q1 2023 Earnings of ($0.07) Per Share, KeyCorp Forecasts

FuelCell Energy, Inc. (NASDAQ:FCELGet Rating) – Equities researchers at KeyCorp lowered their Q1 2023 earnings per share (EPS) estimates for FuelCell Energy in a research report issued on Monday, January 16th. KeyCorp analyst S. Karp now anticipates that the energy company will post earnings per share of ($0.07) for the quarter, down from their prior forecast of ($0.06). The consensus estimate for FuelCell Energy’s current full-year earnings is ($0.31) per share. KeyCorp also issued estimates for FuelCell Energy’s Q2 2023 earnings at ($0.07) EPS, Q3 2023 earnings at ($0.08) EPS, Q4 2023 earnings at ($0.09) EPS, FY2023 earnings at ($0.32) EPS and FY2024 earnings at ($0.25) EPS.

A number of other equities research analysts have also recently commented on the company. B. Riley lowered their target price on FuelCell Energy from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, December 21st. Jefferies Financial Group began coverage on shares of FuelCell Energy in a research note on Wednesday, October 19th. They issued a “hold” rating and a $3.00 target price for the company. Finally, UBS Group began coverage on shares of FuelCell Energy in a report on Tuesday, December 13th. They issued a “neutral” rating and a $3.85 target price on the stock. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $3.77.

FuelCell Energy Stock Down 6.6 %

FCEL stock opened at $3.13 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.76 and a quick ratio of 5.70. The company’s 50 day simple moving average is $3.20 and its 200-day simple moving average is $3.54. FuelCell Energy has a 12 month low of $2.47 and a 12 month high of $7.33. The firm has a market capitalization of $1.27 billion, a PE ratio of -8.24 and a beta of 3.61.

Institutional Trading of FuelCell Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FCEL. Commonwealth Equity Services LLC grew its stake in shares of FuelCell Energy by 3.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 90,820 shares of the energy company’s stock valued at $309,000 after buying an additional 3,137 shares during the period. Mackenzie Financial Corp increased its stake in FuelCell Energy by 26.1% during the first quarter. Mackenzie Financial Corp now owns 18,305 shares of the energy company’s stock worth $105,000 after acquiring an additional 3,788 shares during the last quarter. Van ECK Associates Corp increased its stake in FuelCell Energy by 3.3% during the third quarter. Van ECK Associates Corp now owns 135,394 shares of the energy company’s stock worth $462,000 after acquiring an additional 4,320 shares during the last quarter. Amalgamated Bank lifted its stake in shares of FuelCell Energy by 8.0% in the 3rd quarter. Amalgamated Bank now owns 59,534 shares of the energy company’s stock valued at $203,000 after purchasing an additional 4,385 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of FuelCell Energy by 18.1% during the 3rd quarter. Private Advisor Group LLC now owns 30,051 shares of the energy company’s stock worth $102,000 after purchasing an additional 4,600 shares during the period. Hedge funds and other institutional investors own 42.83% of the company’s stock.

FuelCell Energy Company Profile

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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. It offers SureSource 1500, a 1.4-megawatt (MW) platform; SureSource 3000, a 2.8 MW platform; SureSource 4000, a 3.7 MW platform; SureSource 250, a 250- kilowatt (kW) platform; SureSource 400, a 400-kW platform; and SureSource Hydrogen, a 2.3 MW platform that is designed to produce up to 1,200 kilograms of hydrogen per day for multi-megawatt utility, microgrid, and distributed hydrogen applications, as well as on-site heat and chilling applications.

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Earnings History and Estimates for FuelCell Energy (NASDAQ:FCEL)

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