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FuelCell Energy (FCEL) – Get the report fell sharply on Thursday after the fuel cell electrical equipment maker reported a larger-than-expected loss in the fourth quarter.
The company reported a loss of 8 cents per share, narrower than a loss of 23 cents a year earlier but larger than expected which called for a loss of 4 cents. Operating losses fell from $ 33 million to $ 17.1 million.
Revenue soared 54% in the quarter to $ 17 million from $ 11 million and topped Wall Street estimates.
FuelCell shares traded at $ 15.50, down 7.52%, in pre-market on Thursday. But they have skyrocketed 629% in the past three months until Wednesday, as investors rampaged over clean energy stocks.
The electrical equipment maker, like many hydrogen-related inventories, has seen an explosive run in recent months amid demand for cleaner fuels. Many analysts believe, however, that stocks have moved far too fast.
FuelCell’s price-to-sales ratio sits at an astronomical level of 50.78 and its price-to-book ratio is the same at 56.10, according to Morningstar.
JP Morgan analyst Paul Coster downgraded the stock to an underweight to neutral last week. Coster has a price target of $ 10 on the electrical equipment company in Danbury, Connecticut.
The stock more than quadrupled in 2020. And from 2021 to Wednesday, January 13, it is up 71%.
“We think the action is highly regarded here,” Coster said.
In the same note, Coster kicked off the cover of hydrogen fuel cell maker Plug Power. (PLUG) – Get the report with a sustaining rating and a target price of $ 60. Plug recently traded at $ 59.36, down 5.02%, and took off 284% in the three months to Wednesday.
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