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Tag: NASDAQ: FCEL

  • The FuelCell Energy Inc. (NASDAQ: FCEL) stock declines by 8.51%. Here’s what’s happening:

    The FuelCell Energy Inc. (NASDAQ: FCEL) stock declines by 8.51%. Here’s what’s happening:

    FuelCell Energy Inc. (NASDAQ: FCEL) stock show a downswing of ‎8.51‎% during the normal trading after FCEL has announced its financial results for first-quarter fiscal 2021. FCEL is an internationally renowned company for sustainable and clean energy technologies that caters few of the most critical challenges around energy, safety, and global urbanization.

    Financial Result of Q1 Fiscal 2021

    FuelCell stock price has declined after the financial results because the revenue generated is even below the expectations. Following are the details.

    1. FCEL has recorded the revenue of $14.9 million as compared to $16.3 million in Q1 fiscal 2020.

    • Service agreements and license revenue has decreased by 12% i-e $4.9 million from $5.6 million.   
    • FCEL generation revenues decreased by 10% that is $4.9 million from $5.4 million. This is due to the temporary closing of some of the Bridgeport Fuel Cell Project plants for scheduled module exchanges
    • Advanced Technologies contract revenue also declined 3% to $5.1 million from $5.2 million.

     2. FCEL in the financial results of Q1 fiscal 2021 show a gross loss of $3.6 million compared to gross profit of $3.3 million.

    3. FCEL stock recorded a loss of $14.4 million from operations as compared to $3.1 million.

    Recent Developments

    • In the first quarter fiscal 2021, FCEL managed to enter into a power purchase agreement for 2.8 megawatt project in Derby, CT in February.
    • FCEL also started operation and testing of a prototype solid oxide electrolysis hydrogen platform during the quarter.
    • The CEO of FCEL said that in this first quarter FCEL has managed to improve their balance sheet by raising capital, paying down debt executing against their core business backlog.
    • FCEL has also continued to advance their joint research with ExxonMobil Research and Engineering Company on fuel carbon capture solution.

    Conclusion

    The financial results of FCEL for Q1 fiscal 2021 are not up to the mark but FCEL’s management is working towards making it better for the shareholders. FCEL’s future plans look promising for investors.

  • The shares of FuelCell Energy, Inc. (NASDAQ: FCEL) plummeted early after the announcement of the offering of shares

    The shares of FuelCell Energy, Inc. (NASDAQ: FCEL) plummeted early after the announcement of the offering of shares

    FuelCell Energy, Inc. (Nasdaq: FCEL) stock was down -18.70% to $7.360  in the early trading on Wednesday, December 2, 2020, after the Company recently confirmed the pricing of its underwritten shares public offering of 34,518,539 shares of its common stock for $6.50 per share. The offering consists of 19,822,219 shares sold by the Company and 14,696,320 shares sold by some selling stakeholders, results in net gross profits to the Firm of $128.8 million and the selling stockholders of $95.5 million. The Corporation would not obtain any proceeds from the Sale by the selling stockholders of its common stock. The Sale, subject to normal closing terms, is scheduled to close on or around December 3, 2020. FuelCell Energy also issued a 30-day option to the underwriters to buy up to 5,177,781 additional shares of its common stock.

    To repay all outstanding sums under its Credit Agreement with Orion Energy Partners Investment Agent, LLC, as Administrative Agent and Collateral Agent, and its associated lenders, FuelCell Energy plans to use the net proceeds from the Sale. A part of the net proceeds from the Sale can also be used by the Company to pay the principal redemption price on and accumulated dividends on preference shares provided by one of the subsidiaries of the Company and to repay other outstanding debts. Any remaining proceeds will be used to speed up the production and Sale of the Company’s solid oxide platform and for the development of programmes, project funding, support for working capital and general corporate purposes.

  • FuelCell Energy (NASDAQ: FCEL) Soars On Report Of DoE Project

    FuelCell Energy (NASDAQ: FCEL) Soars On Report Of DoE Project

    Shares of FuelCell Energy, Inc. (NASDAQ: FCEL) surged 10.08% as it gained +0.24 on Friday. The strong performance of the company highlighted the positive sentiments of its investors after it announced that it has secured an $8 million government project by the US Department of Energy (DoE). The contract has been given to the company to advance the demonstration and commercialization of solid oxide electrolysis high-efficiency hydrogen generation technology FuelCell Energy.

    This project is going to be the first multi-stack electrolysis system produced by using the solid oxide technology of the company. FuelCell has earlier revealed the solid oxide electrolysis technology and disclosed both 50kW and 200kW output levels. The system will have an option to use the thermal energy to enhance the electrolysis electrical efficiency to over 90%.

    Shares of FuelCell Energy, Inc. (NASDAQ: FCEL) soared 10.08% as it gained +0.24 during the trading session of Friday. It has a closing price of $2.62. Electrical Equipment & Parts company has a 52-weeks low range of 0.227 and a 52-weeks low range of 3.50. FuelCell Energy moved up 1054.18% and moved down -25.14%.  It had a trading volume of 60.76 million as compared to the average volume of 18.96 million. This company market capitalization has remained high, hitting 772.11 million at the time of writing.

    If we look at the 12-month price targets for FuelCell Energy average price target is $3.00 with a high forecast of $3.00 and a low forecast of $3.00. The average price target shows a 14.50% increase from the last price of $2.62.

    The electrolysis system will be transferred to Idaho National Laboratories (INL) after the testing of the system at FuelCell Energy’s Danbury. At Idaho National Laboratories, this system will undergo a testing system to confirm electric efficiency as well as the ability to use nuclear power plant waste heat to obtain higher efficiencies of up to 100%. Moreover, checking the performance level will accelerate the control schemes and integration design.