NEW YORK (TheStreet) -- Shares of FuelCell Energy Inc (FCEL) were plunging 5.37% to $1.14 in early market trading, after the manufacturer of fuel-cell power plants reported that sales in its second fiscal quarter fell by 25%.
FuelCell Energy posted a second-quarter net loss of 4 cents per share on revenue of $28.6 million.
In the same quarter of last year, revenue came in at $38.3 million.
Analysts polled by Thomson Reuters were expecting a loss of 2 cents per share on revenue of $41.3 million for the quarter.
The company said the sales for some projects under construction won't be recognized until future quarters.
Danbury, Conn.-based FuelCell Energy is an integrated fuel cell company that designs, manufactures, sells, installs, operates and services ultra-clean, stationary fuel cell power plants for distributed power generation.
Separately, TheStreet Ratings team rates FUELCELL ENERGY INC as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:
"We rate FUELCELL ENERGY INC (FCEL) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its poor profit margins and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: FCEL Ratings Report