A Win for FuelCell Energy (FCEL, PCG)

These will be utility-owned fuel cells on the campuses of California State University East Bay and San Francisco State University.  The company noted that this follows the recent approval by the California Public Utilities Commission for PG&E to install fuel cells at two California universities.

This is a win considering what were many delays on fuel cell orders due to the economy and the lower cost of fossil fuels.  To show that drop, the company had $88 million in revenues for the October fiscal year-end for 2009 versus $100.7 million in 2008 and above the $48 million in 2007.  Thomson Reuters estimates are for $96.78 million for this year’s revenues. It sees losses continuing for the future.

FuelCell has a market cap of $179.9 million based on yesterday’s close of $2.13.  This morning shares are up 7.5% at $2.29 and the 52-week range is $2.00 to $5.47.

This was a $10.00 stock back at the peak of the energy and alternative energy craze.

JON C. OGG