FuelCell Energy Inc (NASDAQ:FCEL) on Monday reported worse-than-expected second-quarter financial results.
FuelCell Energy reported quarterly losses of 53 cents per share which missed the analyst consensus estimate of losses of 52 cents per share. The company reported quarterly sales of $35.589 million which missed the analyst consensus estimate of $40.496 million.
“This past quarter reflected strong commercial momentum and disciplined operational execution across the business, including continued progress on our data center strategy,” said Jason Few, President and CEO of FuelCell Energy. “Our carbonate fuel cell platform was designed from inception as a megawatt-scale distributed generation solution and has been proven through more than two decades of commercial operations. Unlike architectures that aggregate numerous sub-scale units to achieve meaningful output, FuelCell Energy deploys utility-scale energy blocks capable of bringing resilient, continuous power directly to the customer. In effect, we are focused on extending the grid to the data center, enabling customers to accelerate time-to-power, reducing dependence on constrained transmission infrastructure, removing permitting friction, and supporting the growing energy demands of AI-driven compute environments with proven, scalable technology.”
FuelCell Energy shares gained 20.6% to $18.68 on Tuesday.
These analysts made changes to their price targets on FuelCell Energy following earnings announcement.
- Canaccord Genuity analyst George Gianarikas upgraded FuelCell Energy from Hold to Buy and raised the price target from $12 to $30.
- TD Cowen analyst Jeff Osborne maintained the stock with a Hold and raised the price target from $9 to $16.
Considering buying FCEL stock? Here’s what analysts think:
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