What happened?
Shares of alternative energy pioneer Fuel
Cell Energy (Nasdaq: FCEL) were in a free fall on Thursday morning, slipping
17% to 11:45 a.m. after a sell-off was reported.
Analysts had predicted that the hydrogen
fuel cell company would lose 6 0.06 per share in its third quarter of fiscal
year 2020 at 166 million, ending July 31. The loss was 7 0.07 per share.
So what
Worse still, even the "defeat"
of the product was a kind of bad move. In Q3 of fiscal year 2019, Fuel Sales
sold 22 22.7 million. So in the last quarter, it raised .7 18.7 million, which
in fact represents an 18% year-over-year decline.
And that's actually good news, relatively
speaking, because the fuel cell did the worst of the $15.3 million bottom loss
- almost three times what it lost a year ago. The only reason for the decline
in loss per share from 18 0.18 to $ 0.07 was that Fuel Cell has temporarily
reduced its shareholders, resulting in almost 50% more shares this year than
last. Are left
Oh, and the first tax operating loss
increased 10 times to $ 10.8 million.
Now what
Encouraging on the results, CEO Jason Few
said he was "delighted with our progress towards achieving our goal of
empowering a world empowered with clean energy." But clearly, investors
were not so greedy.
And based on those numbers, I can't really
blame them.
None of the stocks mentioned by Rich Smith
have any status. Motley Fool has no status in any of the stocks mentioned.
Motley Fool has a disclosure policy.
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