The headline reason fuel cell stocks are down today is that J.P. Morgan analyst Paul Coster gave some negative ratings for Plug Power and FuelCell Energy. For Plug Power, he initiated coverage on the stock with a $60 price target, which is lower than where shares trade today.
What happened to fuel cell stocks?
FuelCell stock sinks after wider-than-expected loss, while revenue more than doubles to top forecasts. Shares of FuelCell Energy Inc. sank 9.0% in …
Is the price of hydrogen and fuel cell stocks too high?
May 06, 2021 · Fuel cell energy stocks seem to move in unison these days, so when one falls, the entire industry goes with it. Today, Bloom Energy ( BE 6.80% ) …
Should you worry about FuelCell Energy's falling revenues?
Apr 14, 2022 · View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Stock Ideas and Recommendations. Get daily stock ideas top-performing Wall Street analysts.
Are Alt-fuel energy stocks headed for a second day of losses?
Jun 10, 2021 · Why FuelCell Energy Stock Plunged 14.3% Today. ... But more concerning is that FuelCell Energy's backlog dropped by $20 million, or more than revenue, to $1.32 billion. Business isn't coming in as ...
Is FuelCell energy stock a good buy?
Is FCEL Stock A Buy, Sell, Or Hold? FCEL stock is a Hold. FuelCell's valuation discount to its peers based on the consensus forward FY 2022 Enterprise Value-to-Revenue metric is reasonable based on its relatively smaller market capitalization and slower revenue growth for FY 2023.Jan 19, 2022
Will fuel cell go up?
Assuming that FCEL is able to improve its execution ability, we expect the company to grow along with the global fuel cell market, which is expected to reach $7.12B by 2026, at a CAGR of 14.06%.Jan 20, 2022
How is fuel cell stock doing?
FuelCell stock rose 12% over a five-day trading period ending 10/21/2021, compared to the broader market (S&P500) which rose by 2.5%. A change of 12% or more over five trading days has a 13% event probability, which has occurred 324 times out of 2516 times in the last ten years.Jan 7, 2022
Why did FuelCell stock go up?
Plug Power reported strong shipments for its fuel-cell and hydrogen systems in the third quarter, generated its highest-ever revenue, and bumped up its revenue guidance for 2022. With the stock also receiving analyst upgrades this week, investors remained bullish about fuel cell stocks, including FuelCell Energy.Nov 12, 2021
Earnings didn't quite hit the mark, but there was still good news for Bloom Energy today
Travis Hoium has been writing for fool.com since July 2010 and covers the solar industry, renewable energy, and gaming stocks among other things. Follow @TravisHoium
What happened
Fuel cell energy stocks seem to move in unison these days, so when one falls, the entire industry goes with it. Today, Bloom Energy ( NYSE:BE) was the cause of a sell-off after it reported first-quarter 2021 earnings. Shares dropped as much as 8.1% and were down 2.9% in late-morning trading.
So what
Bloom Energy's first-quarter revenue rose 23.8% versus a year ago to $194 million on the back of a 40.2% increase in megawatts (MW) delivered. Gross margin increased a whopping 15.5% to 28.2% in the quarter, helping the company improve from a loss of $75.9 million a year ago to a $24.9 million loss, or $0.15 per share, in the first quarter.
Now what
Fuel cell stocks may be trading together today, but they're not all the same. I'll just point out two metrics that investors should keep an eye on, and that's price-to-sales multiples for fuel cell stocks and gross margins. Bloom Energy trades for a P/S ratio of 3.7, while the other three companies are at least a 27.8 multiple.
What happened
Shares of FuelCell Energy ( FCEL -5.39% ) fell by as much as 14.3% in trading on Thursday after the company reported its fiscal second-quarter 2021 financial results. Shares floundered from the start of trading and were down 10.3% at 2:45 p.m. EDT.
So what
For the period that ended April 30, FuelCell Energy's quarterly revenue fell 26% to $14.0 million and its net loss grew by 28% to $18.9 million, or $0.06 per share. Even adjusted EBITDA got worse, as its loss of $3.3 million a year ago grew to a loss of $11.3 million.
Now what
Falling revenues aren't a good look for a company that operates in what is supposed to be a growing segment of the renewable energy market. But more concerning is that FuelCell Energy's backlog dropped by $20 million, or more than revenue, to $1.32 billion. Business isn't coming in as quickly as investors should be hoping for.
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Why are fuel cell stocks down?
The headline reason fuel cell stocks are down today is that J.P. Morgan analyst Paul Coster gave some negative ratings for Plug Power and FuelCell Energy. For Plug Power, he initiated coverage on the stock with a $60 price target, which is lower than where shares trade today. For FuelCell Energy, he downgraded the stock from neutral to underperform with a $10 price target. That's nearly 40% lower than where shares trade as of this writing.
Is Coster negative on plug power?
That's not all that surprising given the fact that fuel cell stocks have traded together for much of the past year. What's notable is that Coster wasn't negative on Plug Power or FuelCell Energy's business, only their valuations.
