Source: FuelCell Energy website
FuelCell Energy (FCEL) stock has continued to fall over the past month. Out of the enthusiasm for alternative energy stocks, investors made the stock up by 519% in the last six months. After that, the stock started to fall. It was not only the profit and exit of some investors, a weaker-than-expected earnings report also pushed its stock to continue to fall.
The company released its results for the Q1 of fiscal 2021 in middle of last month. The revenue in the period dropped 8.5% to $14.88 million, below Wall Street estimates $22.11 million, and reported a loss of $46.8 million for the quarter, which compared with a loss of $41.1 million in the year-earlier period. The company said the decline in these numbers was due to the reduction from service agreements and license revenues, and generation revenues and advanced technologies contract revenues.
The company said last month that it has joined Hydrogen Europe, this is a leading European group of large companies creating a community working to significantly advance and accelerate the hydrogen economy, but for investors, this is a long story. Anyway, the company currently lacks catalysts to drive its stock rebound, so, it may continue to fall.
Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.