Analysts Issue Forecasts for FuelCell Energy, Inc.’s FY2024 Earnings (NASDAQ:FCEL)

FuelCell Energy, Inc. (NASDAQ:FCEL – Get Rating) – Analysts at B. Riley issued their FY2024 earnings estimates for shares of FuelCell Energy in a note issued to investors on Friday, March 10th. B. Riley analyst C. Souther anticipates that the energy company will post earnings per share of ($0.29) for the year. B. Riley currently has a “Neutral” rating and a $4.00 target price on the stock. The consensus estimate for FuelCell Energy’s current full-year earnings is ($0.32) per share.

Separately, UBS Group assumed coverage on FuelCell Energy in a research note on Tuesday, December 13th. They issued a “neutral” rating and a $3.85 price target for the company. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $3.46.

FuelCell Energy Stock Down 7.7 %

FCEL opened at $3.10 on Monday. FuelCell Energy has a fifty-two week low of $2.47 and a fifty-two week high of $7.33. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.70 and a current ratio of 6.76. The company has a market capitalization of $1.26 billion, a P/E ratio of -9.69 and a beta of 3.73. The stock has a fifty day moving average of $3.39 and a 200-day moving average of $3.42.

FuelCell Energy (NASDAQ:FCEL – Get Rating) last announced its quarterly earnings results on Thursday, March 9th. The energy company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. FuelCell Energy had a negative return on equity of 17.36% and a negative net margin of 88.92%. The business had revenue of $37.10 million during the quarter, compared to the consensus estimate of $25.24 million. During the same quarter last year, the firm posted ($0.04) EPS. The company’s quarterly revenue was up 16.7% on a year-over-year basis.

Institutional Investors Weigh In On FuelCell Energy

Several institutional investors have recently bought and sold shares of 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 worth $309,000 after acquiring an additional 3,137 shares during the period. Mackenzie Financial Corp lifted its holdings in FuelCell Energy by 26.1% during the 1st quarter. Mackenzie Financial Corp now owns 18,305 shares of the energy company’s stock worth $105,000 after purchasing an additional 3,788 shares in the last quarter. Raymond James & Associates lifted its holdings in FuelCell Energy by 3.5% during the 4th quarter. Raymond James & Associates now owns 114,154 shares of the energy company’s stock worth $317,000 after purchasing an additional 3,819 shares in the last quarter. Amalgamated Bank lifted its holdings in FuelCell Energy by 6.9% during the 4th quarter. Amalgamated Bank now owns 63,637 shares of the energy company’s stock worth $177,000 after purchasing an additional 4,103 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in FuelCell Energy by 3.3% during the 3rd quarter. Van ECK Associates Corp now owns 135,394 shares of the energy company’s stock worth $462,000 after purchasing an additional 4,320 shares in the last quarter. Institutional investors own 42.83% of the company’s stock.

About FuelCell Energy

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FuelCell Energy, Inc engages in the development, design, production, construction and servicing of high temperature fuel cells for clean electric power generation. It develops turn-key distributed power generation solutions and provides comprehensive services for the life of the power plant. The firm’s fuel cell solution is an alternative to traditional combustion-based power generation and is complementary to an energy mix consisting of intermittent sources of energy, such as solar and wind turbines.