Earnings Previews: Bilibili, Five Below, FuelCell Energy, Nio

Since posting their low, FuelCell Energy shares are up 34.5%, and Monday’s announcement from President Biden, though primarily a boost for the solar industry, included some good news for clean energy fuels other than solar.

Analysts are content to wait and see what happens with the stock. None has a Buy or Strong Buy rating, and two have a Sell or Strong Sell rating. Shares trade at around $4.25 implying an upside of 21.2% based on a median price target of $5.15. Based on a high target price of $7.00, the upside potential on the stock is nearly 65%.

Consensus estimates call for second-quarter revenue of $32.32 million, up 1.7% sequentially and 131.7% year over year. The company is expected to post a per-share loss of $0.05, flat sequentially, and a penny better than the year-ago loss. For the full 2022 fiscal year, analysts are expecting a loss per share of $0.24, better than last year’s loss of $0.30 per share, on sales of $135.82 million, up 95.2%.

FuelCell Energy is not expected to post a profit in either 2022, 2023 or 2024. The stock’s 52-week range is $2.87 to $12.62. The company does not pay a dividend, and the total shareholder return for the past year was negative 57.5%.


China-based electric vehicle maker (EV) Nio Inc. (NYSE: NIO) has dropped about 54% from its share price over the past 12 months. Since dipping to a 52-week low in mid-May, the stock has added 46%. Nio is expected to report results before markets open on Thursday.

Barron’s reported three reasons for the recent share price increase: first, the company is reportedly looking to hire U.S. talent and that could lead to sales and perhaps production in this country. Second, China’s government has instituted a tax break for people who buy new cars by the end of the year. Third, Shanghai will subsidize EV purchases to the tune of $1,500 until the end of the year.

There are 26 analyst ratings on Nio’s stock, and all but two are Buy or Strong Buy ratings. At a share price of around $19.20, the upside potential based on a median price target of $32.53 is about 69%. At the high target of $83.23, the upside potential is 333%.

For the first quarter of fiscal 2022, the consensus estimates call for revenue of $1.48 billion, down 5.1% sequentially but 21.3% higher year over year. Nio is expected to post an adjusted loss per share of $0.16, better than the $0.17 per-share loss in the prior quarter and worse than the year-ago loss of $0.03 per share. For the full year, the company is expected to report a per-share loss of $0.50, worse than the $0.30 loss in 2021, on sales of $9.41 billion, up about 65.5%.

Analysts estimate that Nio will trade at 84.7 times earnings in 2024. Until then, it is not expected to post a profit. The enterprise value-to-sales multiple is expected to be 2.9 in 2022 and 1.7 in 2023. The stock’s 52-week range is $11.67 to $55.13. The company does not pay a dividend, and the total shareholder return for the past year is negative 54.3%.

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