Stock Alert for Quantum Fuel Systems Technologies Worldwide Inc. (QTWW)(D*)
  • Stock Alert for Quantum Fuel Systems Technologies Worldwide Inc. (QTWW)(D*)
  • Stock Report for Quantum Fuel Systems Technologies (QTWW)
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    Quantum Fuel Systems Technologies Worldwide Inc. (NASDAQ: $QTWW)

    Quantum Fuel Systems Technologies Worldwide Inc. (NASDAQ: $QTWW)(D*)

    Financial status indicator if deficient: Issuers failed to meet NASDAQ continued listing requirements.

    Quantum Fuel Systems Technologies Worldwide Inc. (QTWW) is a fully integrated alternative energy company, and a player in the development and production of propulsion systems, energy storage technologies and alternative fuel vehicles. The Company’s portfolio of technologies include electronic controls, hybrid electric drive systems, hydrogen storage and metering systems, and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in electric hybrid, fuel cell and alternative fuel vehicles. On January 16, 2008, the Company completed a series of transactions that resulted in the disposal of substantially all the assets of the Tecstar Automotive Group business segment. Prior to the disposal, the Tecstar Automotive Group business segment comprised all of the business activities of Tecstar Automotive Group Inc. and its subsidiaries. On January 4, 2008, Quantum acquired a 24.9% ownership interest in asola Advanced and Automotive Solar Systems GmbH.

    The Company was founded in 2000 and is headquartered in Irvine, California.

    Share Statistics (16-April-10)

    FY

    2007

    FY

    2008

    %

    Chg

    Q4 2008

    Q4 2009

    %

    Chg

    Symbol

    QTWW

    Revenue, $Mn

    146.7M

    25.60M

    81.9%

    9.67M

    6.24M

    35.5%

    Current price

    $0.70

    Gross marg.

    46.4%

    62.2%

    34.1%

    n/a

    87.8%

    n/a

    52wk Range:

    $1.77-0.60

    Oper. margin

    -132.6%

    -70.8%

    46.6%

    n/a

    -69.1%

    n/a

    Avg Vol (3m):

    1,647,380

    Net margin

    -95.8%

    -320.9%

    235.0%

    n/a

    -51.1%

    n/a

    Market Cap.

    103.08M

    Dil. Shares Outst.

    145.7M

    EPS, $

    -2.22

    -0.25

    88.7%

    -0.06

    -0.03

    50.0%

    Source: Reuters.com, SEC Filings.

    Financial Summary

    Revenues decreased $4.4 million, from $5.9 million in the third quarter of fiscal 2009 to $1.5 million in the third quarter of fiscal 2010, and decreased $9.8 million, from $17.0 million in the first nine months of fiscal 2009 to $7.2 million in the first nine months of fiscal 2010.  The decrease in revenue for the third quarter and first nine months of fiscal 2010 is primarily related to customer delays on the Q-Drive development program as Fisker Automotive finalized its $528 million loan from the Department of Energy.   Despite lower revenues, the Company’s overall operating loss decreased $5.8 million, from $11.9 million in the third quarter of fiscal 2009 to $6.1 million in the third quarter of fiscal 2010, and decreased $5.5 million, from $20.8 million in the first nine months of fiscal 2009 to $15.3 million in the first nine months of fiscal 2010.  The decrease in operating losses was primarily due to the amortization and impairment of the intangible asset related to the Company’s strategic alliance with General Motors that was written off in the third quarter of fiscal 2009.

    Contract revenue for the Quantum Fuel Systems segment decreased $4.7 million, from $5.7 million in the third quarter of fiscal 2009 to $1.0 million in the third quarter of fiscal 2010.   The decrease was primarily related to customer delays on the Q-Drive development program and the completion in fiscal year 2009 of the fuel cell development programs for General Motors.

    Operating loss for the Quantum Fuel Systems segment decreased $6.2 million, from $9.1 million in the third quarter of fiscal 2009 to $2.9 million in the third quarter of fiscal 2010, and decreased $4.8 million, from $12.5 million in the first nine months of fiscal 2009 to $7.7 million in the first nine months of fiscal 2010. The decreased loss was primarily due to the impairment of the General Motors intangible asset that was recorded in the third quarter of fiscal 2009.

    Corporate segment expenses increased by $0.4 million in the third quarter of fiscal 2010 from $2.8 million in fiscal 2009 to $3.2 million in fiscal 2010, and decreased by $0.7 million in the first nine months of fiscal 2010 from $8.3 million in fiscal 2009 to $7.6 million in fiscal 2010.  Corporate segment expenses reflect the general and administrative expenses that indirectly support the Company’s ongoing Quantum Fuel Systems operating segment and anticipated future operating segments and consist primarily of personnel costs, share-based compensation costs, and related general and administrative costs for executive, finance, legal, human resources, investor relations and the board of directors.  The share-based compensation expense was $0.7 million and depreciation and amortization expense was $0.9 million for the first nine months of fiscal 2010.   Cash used from operations during the first nine months of fiscal 2010 was $11.1 million.

    Financial Strength (16-Apr-2010)

    Company

    Industry

    Sector

    S&P 500

    Quick Ratio (MRQ)

    0.20

    1.56

    0.68

    0.80

    Current Ratio (MRQ)

    0.24

    1.98

    0.84

    0.95

    Long-Term Debt to Equity (MRQ)

    57.16

    38.17

    27.64

    146.05

    Total Debt to Equity (MRQ)

    361.21

    55.24

    45.18

    210.80

    Source: Reuters.com, SEC Filings.

    Analyst Consensus

    Buy

    Outperform

    Hold

    Underperform

    Sell

    No Opinion

    This is the consensus forecast amongst three polled investment analysts. Against the Quantum Fuel Systems Technologies Worldwide Inc company.

    Analyst Detail

    Buy

    Outperform

    Hold

    Underperform

    Sell

    No Opinion

    Latest

    1

    1

    1

    0

    0

    1

    4 weeks ago

    1

    1

    1

    0

    0

    1

    2 months ago

    1

    1

    1

    0

    0

    1

    3 months ago

    0

    1

    0

    0

    0

    2

    Last year

    2

    1

    1

    0

    0

    0

    The three analysts offering 12-month price targets for QTWW have a median target of 1.25, with a high estimate of 1.75 and a low estimate of 1.00. The median estimate represents a 72.39% increase from the last price of 0.7251.

    Source: www.ft.com

    Consensus Estimates Analysis

    # of Estimates

    Mean

    High

    Low

    1 Year Ago

    SALES (in millions)

    Quarter Ending Apr-10

    2

    3.25

    3.50

    3.00

    39.90

    Quarter Ending Jul-10

    1

    5.00

    5.00

    5.00

    Year Ending Apr-10

    2

    10.46

    10.70

    10.23

    95.88

    Year Ending Apr-11

    2

    58.95

    62.50

    55.40

    273.75

    EARNINGS (per share)

    Quarter Ending Apr-10

    2

    -0.03

    -0.02

    -0.03

    0.01

    Quarter Ending Jul-10

    1

    -0.01

    -0.01

    -0.01

    Year Ending Apr-10

    2

    -0.36

    -0.32

    -0.40

    -0.10

    Year Ending Apr-11

    2

    -0.07

    -0.04

    -0.10

    0.16

    Source: http://www.reuters.com/finance/stocks/financialHighlights?symbol=QTWW.W

    Investment Highlights

    QTWW recently announced that its Clandestine Extended Range Vehicle (CERV), developed for and in cooperation with the U.S. Army Tank Automotive Research Development and Engineering Center (TARDEC), is on display at the 2010 SAE World Congress at Cobo Center in Detroit.

    QTWW designed, developed and manufactured the CERV specifically as an advanced military scout vehicle that is intended for rapid, covert ingress and egress operations during reconnaissance, surveillance and target-designation missions. The CERV features Quantum’s lightweight chassis and a new all-wheel-drive, diesel hybrid-electric powertrain that produces in excess of 5000 lb·ft (6780 N·m) of maximum torque.  The CERV is certified for flight on a number of military aircraft and is the only hybrid vehicle currently certified for transport in the Osprey rotorcraft.

    The CERV incorporates Quantum’s Q-Force drivetrain, which was developed by QTWW in its Lake Forest Advanced Vehicle Center.  The CERV can maintain speeds of 80 mph (129 km/h) and climb 60% grades—all while using up to 25% less fuel than conventional vehicles of comparable size.

    The Q-Force drivetrain, a variant of Quantum’s Q-Drive™ drivetrain, is optimized for use with an efficient diesel (JP8) engine and configured to achieve 60% grades, can ford up to 30″ of water, and other unique military requirements.  The Q-Force is a series hybrid design that utilizes a 1.4 liter diesel engine mated to a 75kW generator.  This is combined with power from a lithium ion battery pack to energize the vehicle’s 100kW permanent magnet drive motor.  The diesel hybrid design is unique in U.S. light duty vehicles with nearly all other hybrids operating on gasoline.  The Q-Force system takes advantage of the very high efficiency diesel engine to enable a high performance vehicle while achieving excellent fuel economy.

    Source: http://www.qtww.com/

    Technical Analysis

    Source: http://stockcharts.com

    QTWW has been relatively stable recently. This is evidenced by the width of its Bollinger Bands, which are tighter than normal. Additionally, QTWW is trading within its Bollinger Bands. This is a normal condition and suggests that the stock is neither overbought nor oversold relative to the recent price action.

    QTWW’s MACD is currently indicating a weak bullish signal. Although the MACD is trending above the signal line, the indicator is still below 0, which suggests that the underlying moving averages are bearish.

    Comparative Analysis

    Company Name

    Ticker

    Price per

    Mrkt. Cap.

    P/E

    P/S

    Apr16-2010

    symbol

    Share, $

    $ Mn

    2009

    2010

    2009

    2010

    Visteon Corp.

    VSTNQ

    1.08

    140.75M

    1.11

    n/a

    0.02

    n/a

    SatCon Technology Corp.

    SATC

    2.77

    196.67M

    n/a

    n/a

    3.62

    n/a

    Motors Liquidation Co.

    MTLQQ

    0.54

    33.98M

    n/a

    n/a

    0.00

    n/a

    Auto & Truck Parts Median

    123.80M

    n/a

    n/a

    1.21

    n/a

    Quantum Fuel Systems Tech.

    QTWW

    0.70

    103.08M

    n/a

    n/a

    4.29

    n/a

    Source: Thomson Financial

    Insider Trading Activity

    NET SHARES PURCHASE ACTIVITY

    Inside Purchases – Last 6 Months

    Shares

    Transaction

    Purchases

    n/a

    0

    Sales

    n/a

    0

    Net Shares Purchased (Sold)

    n/a

    0

    Total Insider Shares Held

    256.79K

    n/a

    % Net Shares Purchased (Sold)

    0.0%

    n/a

    Net Institutional Purchases — Prior Qtr to Latest Qtr

    Shares

    Net Shares Purchased (Sold)

    (1,748,640)

    % Change in Institutional Shares Held

    (13.2%)

    Source: Yahoo Finance

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