Hydrogen hopefuls, listen up! FuelCell Energy (NASDAQ: FCEL ), the Connecticut-headquartered hydrogen-production company, is absurdly underappreciated on Wall Street.
FuelCell Energy (NASDAQ: FCEL ) stock is getting a boost on Thursday after the company provided investors with an update on its business in the Korean market. FuelCell Energy says that its expansion into the Korean market is going well.
The market continues to hit record highs and macroeconomic reports suggest that the economy is finally healing from high inflation. This all adds up to make one of the most ferocious bull markets in recent memory.
FuelCell Energy reported uninspiring Q2/FY2024 results with negative gross margins and significant cash burn. With open market sales remaining the company's primary funding source, relentless dilution for common shareholders continued. Subsequent to quarter-end, the company signed a $160 million long-term service agreement in Korea, which should boost revenues significantly starting in FY2025.
FuelCell Energy NASDAQ: FCEL is up a solid 20% following its latest earnings release on dubious news and hope. The move confirms a technical reversal in the share price, but the report's detail belies the technical outlook.
FuelCell Energy reported lower losses than forecast this morning. The fuel cell company lost only $0.07 per share, better than $0.09 per share a year ago.
FuelCell Energy (NASDAQ: FCEL ) stock is in the green despite reporting a 42% revenue drop in its fiscal second-quarter earnings. Revenue tallied in at $22.4 million compared to $38.3 million a year ago.
FuelCell Energy (FCEL) came out with a quarterly loss of $0.07 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to loss of $0.09 per share a year ago.
Shares of FuelCell Energy Inc. FCEL, -5.52% got a 0.6% lift Monday after fuel cell technology company reported a narrower-than-expected fiscal second-quarter loss, as strength in its generation and advanced technologies businesses offset a sharp drop in service agreements. The net loss for the quarter to April 30 was $32.9 million, or 7 cents a share, compared with a loss of $35.1 million, or 9 cents a share, in the same period a year ago.
In the clean energy space, FuelCell Energy (NASDAQ: FCEL ) has certainly been what many would characterize as a laggard. Shares of FCEL stock are down more than 35% on a year-to-date basis alone, and much more from its recent peak.