Bloom Energy (NYSE:BE)‘s stock had its “buy” rating reiterated by equities researchers at Morgan Stanley in a research report issued to clients and investors on Wednesday, TipRanks reports.
A number of other research analysts have also weighed in on the company. KeyCorp restated an “overweight” rating and set a $15.00 price objective (down previously from $27.00) on shares of Bloom Energy in a research report on Wednesday, August 14th. Robert W. Baird cut their price objective on Bloom Energy from $16.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. ValuEngine upgraded Bloom Energy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Bank of America cut their price objective on Bloom Energy from $6.00 to $4.00 and set an “underperform” rating for the company in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $12.00 price objective (down previously from $18.00) on shares of Bloom Energy in a research report on Thursday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $12.13.
Shares of NYSE:BE traded down $0.23 during midday trading on Wednesday, hitting $3.32. The company had a trading volume of 2,762,274 shares, compared to its average volume of 1,593,776. The company has a debt-to-equity ratio of 10.34, a current ratio of 1.75 and a quick ratio of 1.44. The company has a market cap of $385.08 million, a price-to-earnings ratio of -1.37 and a beta of 3.31. Bloom Energy has a 12-month low of $3.08 and a 12-month high of $38.00. The company has a fifty day moving average of $5.87 and a two-hundred day moving average of $10.72.
Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.59) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.59). Bloom Energy had a negative return on equity of 539.17% and a negative net margin of 38.77%. The business had revenue of $233.80 million during the quarter, compared to analyst estimates of $207.56 million. The company’s revenue was up 38.4% compared to the same quarter last year. Research analysts expect that Bloom Energy will post -2.07 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in BE. BNP Paribas Arbitrage SA lifted its stake in Bloom Energy by 25,000.0% in the second quarter. BNP Paribas Arbitrage SA now owns 4,016 shares of the company’s stock worth $49,000 after purchasing an additional 4,000 shares during the last quarter. Synovus Financial Corp purchased a new position in shares of Bloom Energy during the second quarter worth approximately $65,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Bloom Energy during the second quarter worth approximately $67,000. NumerixS Investment Technologies Inc purchased a new position in shares of Bloom Energy during the second quarter worth approximately $162,000. Finally, Endurance Wealth Management Inc. increased its position in shares of Bloom Energy by 4,085.7% during the second quarter. Endurance Wealth Management Inc. now owns 14,650 shares of the company’s stock worth $180,000 after acquiring an additional 14,300 shares during the period. 39.67% of the stock is owned by institutional investors and hedge funds.
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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