NEW YORK (TheStreet) -- Shares of FuelCell Energy (FCEL) - Get Report are tumbling by 16.21% to $6.15 on Thursday morning, after the Danbury, CT-based company reported a wider-than-expected loss for the 2016 fiscal second quarter.
After yesterday's closing bell, the fuel cell power plant company posted a net loss of 56 cents per share, while analysts were expecting a loss of 40 cents per share.
Revenue was $28.6 million for the quarter, lower than Wall Street's forecasts of $35.02 million.
Product sales were $15.4 million compared to $20.2 million in the same period last year.
Service agreements and license revenues totaled $10.6 million vs. $4.6 million the year prior. The increase was largely due to revenue recognized from module replacements.
The company designs, manufactures, operates and services ultra-clean and efficient fuel cell power plants.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D- on the stock.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: FCEL