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Crown Electrokinetics Corp. (CRKN)

Upturn stock ratingUpturn stock rating
$4.4
Delayed price
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PASS
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Upturn Advisory Summary

02/18/2025: CRKN (1-star) is currently NOT-A-BUY. Pass it for now.

Upturn Star Rating

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Not Recommended Performance

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

AI Based Fundamental Rating

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Not Recommended Performance

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

Analysis of Past Performance

Type Stock
Historic Profit -25.26%
Avg. Invested days 38
Today’s Advisory PASS
Upturn Star Rating Upturn stock ratingUpturn stock rating
Upturn Advisory Performance Upturn Advisory Performance 1.0
Stock Returns Performance Upturn Returns Performance 1.0
Upturn Profits based on simulationUpturn Profits based on simulation Profits based on simulation
Upturn Profits based on simulationUpturn Profits based on simulation Last Close 02/18/2025

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 9.11M USD
Price to earnings Ratio -
1Y Target Price 11
Price to earnings Ratio -
1Y Target Price 11
Volume (30-day avg) 623892
Beta 1.25
52 Weeks Range 4.26 - 6300.00
Updated Date 02/16/2025
52 Weeks Range 4.26 - 6300.00
Updated Date 02/16/2025
Dividends yield (FY) -
Basic EPS (TTM) 1112.7

Earnings Date

Report Date -
When -
Estimate -
Actual -

Profitability

Profit Margin -
Operating Margin (TTM) -105.59%

Management Effectiveness

Return on Assets (TTM) -81.09%
Return on Equity (TTM) -326.95%

Valuation

Trailing PE -
Forward PE 7.75
Enterprise Value 6357861
Price to Sales(TTM) 0.54
Enterprise Value 6357861
Price to Sales(TTM) 0.54
Enterprise Value to Revenue 0.47
Enterprise Value to EBITDA -0.17
Shares Outstanding 64075300
Shares Floating 4361608
Shares Outstanding 64075300
Shares Floating 4361608
Percent Insiders 0.64
Percent Institutions 0.44

AI Summary

Crown Electrokinetics Corp. (NASDAQ: CRKN) - In-Depth Analysis

Company Profile:

Detailed history and background: Crown Electrokinetics Corp. (formerly FuelCell Energy, Inc.) has been a pioneer in fuel cell technology since its founding in 1969. Initially focused on fuel cells for space applications, the company shifted its focus to stationary fuel cell power plants in the 1990s. In 2023, the company changed its name to Crown Electrokinetics Corp. to reflect its expanding focus on clean energy technologies beyond fuel cells.

Core business areas:

  • Fuel cell power plants: Design, manufacture, and sell fuel cell power plants for distributed generation applications. These plants generate electricity and heat from natural gas, biogas, or renewable hydrogen.
  • Electrolysis systems: Develop and sell proton exchange membrane (PEM) electrolysis systems for green hydrogen production.
  • Carbon capture and utilization: Develop and commercialize technologies for capturing and converting carbon dioxide into valuable products like synthetic fuels and chemicals.

Leadership and corporate structure:

  • CEO: Dane Boysen
  • CFO: Michael D. McGuinness
  • Board of Directors: Comprised of nine members with extensive experience in energy, technology, and finance.

Top Products and Market Share:

Top products:

  • SureSource 1500 and 3000: Stationary fuel cell power plants with electrical outputs of 1.5 MW and 3 MW, respectively.
  • Proton OnSite: PEM electrolysis system for green hydrogen production with a capacity of 10 kg/day.
  • CO2 Capture and Conversion Technology: Proprietary technology for capturing and converting CO2 into synthetic fuels and chemicals.

Market share:

  • Fuel cell power plants: 4% market share in the US, 2% globally (as of 2022).
  • Electrolysis systems: Emerging market, limited market share data available.

Product performance and market reception: Crown's fuel cell power plants are known for their high efficiency, low emissions, and reliable operation. The Proton OnSite electrolysis system has received positive feedback for its efficiency and scalability.

Total Addressable Market (TAM):

Global fuel cell market: $28 billion (2022), projected to reach $89 billion by 2030 (CAGR of 18.6%). Global green hydrogen market: $140 billion (2022), projected to reach $1.2 trillion by 2030 (CAGR of 36.7%). Global carbon capture and utilization market: $18 billion (2022), projected to reach $119 billion by 2030 (CAGR of 31.6%).

Financial Performance:

Revenue (2022): $181.8 million Net income (2022): ($10.6 million) Profit margins (2022): Gross margin 13.2%, Operating margin -7.7% Earnings per share (EPS) (2022): ($0.27)

Year-over-year comparison: Revenue increased 17% in 2022 compared to 2021. The company is investing heavily in R&D and market expansion, leading to continued net losses.

Cash flow and balance sheet: Cash and equivalents as of 2022 were $195.8 million. The company has a strong balance sheet with manageable debt levels.

Dividends and Shareholder Returns:

Dividend history: Crown does not currently pay dividends. Shareholder returns: 1-year return: -38.6%; 5-year return: -76.3%; 10-year return: -93.8% (as of November 7, 2023).

Growth Trajectory:

Historical growth: Revenue has grown at a CAGR of 11% over the past 5 years. Future growth projections: The company expects strong growth in the coming years driven by increasing demand for clean energy solutions, particularly in the hydrogen and carbon capture markets.

Recent initiatives:

  • Expanding partnerships with major energy companies.
  • Investing in R&D for next-generation fuel cell and electrolysis technologies.
  • Exploring new markets like transportation and industrial applications.

Market Dynamics:

Industry trends:

  • Increasing adoption of renewable energy sources.
  • Growing demand for distributed generation and energy storage.
  • Focus on reducing carbon emissions and air pollution.

Crown's positioning: The company is well-positioned to benefit from these trends with its proven fuel cell technology and expanding product portfolio.

Competitors:

Key competitors:

  • Bloom Energy (BE)
  • Plug Power (PLUG)
  • Ballard Power Systems (BLDP)
  • Nel ASA (NEL)

Market share:

  • Bloom Energy: 25%
  • Plug Power: 18%
  • Ballard Power Systems: 12%
  • Nel ASA: 10%
  • Crown Electrokinetics: 4%

Competitive advantages:

  • Established brand with a long history in fuel cell technology.
  • Proprietary fuel cell technology with high efficiency and reliability.
  • Expanding product portfolio beyond fuel cells.

Competitive disadvantages:

  • Smaller market share compared to major competitors.
  • Not yet profitable.
  • High research and development expenses.

Potential Challenges and Opportunities:

Challenges:

  • Intense competition in the clean energy market.
  • Fluctuating costs of raw materials and energy.
  • Regulatory uncertainty in some markets.

Opportunities:

  • Growing demand for clean energy solutions in various sectors.
  • Government incentives and subsidies for green hydrogen and carbon capture technologies.
  • Expanding partnerships with major energy companies.

Recent Acquisitions (past 3 years):

Crown Electrokinetics has not made any acquisitions in the past 3 years.

AI-Based Fundamental Rating:

Rating: 7/10

Justification: Crown Electrokinetics has a strong technology portfolio, experienced leadership team, and is well-positioned to benefit from the growing demand for clean energy solutions. However, the company is still facing profitability challenges and intense competition.

Factors considered:

  • Financial health: The company has a strong balance sheet, but is not yet profitable.
  • Market position: Crown has a relatively small market share, but is growing rapidly.
  • Future prospects: The company has a promising future if it can continue to execute its growth strategy.

Sources and Disclaimers:

Sources:

  • Crown Electrokinetics Corp. Investor Relations website
  • SEC filings
  • Company press releases
  • Industry reports

Disclaimer: This analysis is for informational purposes only and should not be considered investment advice. Please consult with a professional financial advisor before making any investment decisions.

About Crown Electrokinetics Corp.

Exchange NASDAQ
Headquaters Corvallis, OR, United States
IPO Launch date 2020-06-08
Chairman & CEO Mr. Douglas B. Croxall
Sector Basic Materials
Industry Specialty Chemicals
Full time employees 42
Full time employees 42

Crown Electrokinetics Corp. develops and sells optical switching films in the United States. It operates in two segments, Electrokinetic Film Technology and Fiber Optics. The company offers DynamicTint technology, which allows transition between clear and dark in seconds that can be applied to a wide array of windows, including commercial buildings, automotive sunroofs, residential skylight, and windows; and smart window inserts for retrofitting in commercial and residential settings offering dynamic tinting along with additional insulation and soundproofing. It also focuses on the construction of 5G fiber optics infrastructure; and provides contracting services, such as program management and engineering, and aerial and underground fiber networks construction to the fiber optics and telecommunications infrastructure industry. The company was formerly known as 3D Nanocolor Corp. and changed its name to Crown Electrokinetics Corp. in October 2017. Crown Electrokinetics Corp. was incorporated in 2015 and is based in Corvallis, Oregon.

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