FuelCell Shares Plunge on Lower Revenue, Wider Loss By Investing.com

By Dhirendra Tripathi

Investing.com – FuelCell Energy (NASDAQ:FCEL) shares fell 10% Tuesday as lower revenue and a bigger loss than last year prompted traders to dump the stock.

For the quarter ended January 31, revenue of $14.87 million fell short of the $16.26 million reported in the same quarter a year ago.

The loss from operations more than quadrupled, to $14.4 million from $3.1 million in the quarter a year ago.

The company’s performance deteriorated on most parameters. Operating expenses for the first fiscal quarter of 2021 increased to $10.8 million from $6.4 million in the first fiscal quarter of 2020.