That's what the 7¢ EPS loss was. No need to highlight it.
It also doesn't worry me. This is a stock/company where any long at this point is trying to time buying in just before the quarter when FCEL starts to announce big sales news.
My primary concern about FCEL not having enough manufacturing capacity was answered this morning.
I don't want to be a "trader", but it worked for me ... so far.
I sold at $2.90 ... $3.40 ... and $4.40.
Monday night, the financial summary, not the 10Q came out and nothing looked better. So I felt all along FCEL was rising in sympathy with PLUG; the rise being unwarranted, but it was a big percentage gain nonetheless.
With the way volume spiked in PLUG, BLDP and FCEL, and all of the CNBC announcers & Crammer going crazy over the action (they were 3 of the top 4 most active stocks of the day; BAC being the other) saying it was all unwarranted, and then Citron's Andrew Left http://video.cnbc.com/gallery/?play=1&video=3000255477 came out and blasted PLUG saying he thinks it's worth $0.50 ... all combined it sent the 3 stocks crashing.
After I finally got the entire 10-Q and read it this morning my greatest fear was alleviated. They have already begun increasing the annual manufacturing capacity from 70MW to 100MW, and have the cash in the bank to do so.
I bought back in this morning at $2.88. Not equal to my initial stake because I don't know if this is going down more, but my commitment and belief in the company was reaffirmed.
At this moment I have no idea what's going to happen in the near term or what to suggest if anyone wanted to initiate a position again.
Backlogs went down. That wasn't encouraging. However, it does seem as if their pipeline is filling numerically with more projects than last year. Everything else seems as encouraging as it did last fall.
They estimate their sales time frame is 9 - 18 months. Their marketing agreement with NRG Energy, Inc. (NRG) is 6 months old. What they say about their progress with NRG sounds pretty encouraging to me. They also discussed getting another marketing partner in Europe. When POSCO Energy really gets underway, FCEL should be well on the way.
This came out this afternoon:
Wednesday, Mar 12 2:17 PM Don't lump FuelCell with Plug Power, Stifel says as it boosts FCEL target price FuelCell Energy (FCEL -0.3%) merits a big target price boost to $4.10 from $2.30 from Stifel, which reiterates its Buy rating as it foresees sizable wins over the coming months to drive further investor interest in the stock and pave a path to profitability.
My commitment was shaken when I first read the finanical highlights Monday night. Everything now as far as I am concerned is full speed ahead.
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