Bloom Energy (NYSE:BE) Price Target Lowered to $18.00 at JPMorgan Chase & Co.

Bloom Energy (NYSE:BE) had its target price decreased by JPMorgan Chase & Co. from $33.00 to $18.00 in a report released on Tuesday morning, The Fly reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Bloom Energy from a buy rating to a hold rating in a research report on Tuesday, July 9th. Raymond James decreased their price objective on shares of Bloom Energy from $16.00 to $12.00 and set an outperform rating on the stock in a research report on Tuesday. ValuEngine upgraded shares of Bloom Energy from a buy rating to a strong-buy rating in a research report on Thursday, August 1st. Finally, Bank of America upgraded shares of Bloom Energy from an underperform rating to a neutral rating in a research report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $16.45.

Shares of BE stock opened at $5.12 on Tuesday. Bloom Energy has a one year low of $4.41 and a one year high of $38.00. The company’s fifty day moving average price is $10.66 and its 200-day moving average price is $11.89. The company has a debt-to-equity ratio of 10.34, a quick ratio of 1.89 and a current ratio of 2.32.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.59) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.59). The firm had revenue of $233.80 million for the quarter, compared to the consensus estimate of $207.56 million. Bloom Energy had a negative net margin of 38.77% and a negative return on equity of 387.28%. Bloom Energy’s revenue was up 38.4% compared to the same quarter last year. Equities research analysts predict that Bloom Energy will post -2.13 EPS for the current fiscal year.

In related news, CFO Randy W. Furr sold 46,675 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $11.16, for a total transaction of $520,893.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Susan Seilheimer Brennan sold 11,471 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $10.72, for a total transaction of $122,969.12. The disclosure for this sale can be found here. Company insiders own 36.45% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA grew its stake in shares of Bloom Energy by 25,000.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,016 shares of the company’s stock worth $49,000 after buying an additional 4,000 shares in the last quarter. Synovus Financial Corp purchased a new position in shares of Bloom Energy in the 2nd quarter worth $65,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Bloom Energy in the 2nd quarter worth $67,000. Elgethun Capital Management purchased a new position in shares of Bloom Energy in the 1st quarter worth $137,000. Finally, Chicago Capital LLC purchased a new position in shares of Bloom Energy in the 1st quarter worth $150,000. 33.58% of the stock is owned by institutional investors.

About Bloom Energy

Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. The company offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion.

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