Zacks Investment Research upgraded shares of Bloom Energy (NYSE:BE) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $6.00 price target on the stock.
According to Zacks, “Bloom Energy Corporation generates and distributes renewable energy. It supplies electricity to the residential, commercial and industrial sectors. Bloom Energy Corporation is based in CA, United States. “
BE has been the subject of several other research reports. KeyCorp reissued an overweight rating and set a $5.00 price objective on shares of Bloom Energy in a research report on Monday, October 14th. Bank of America lowered their price objective on shares of Bloom Energy from $6.00 to $4.00 and set an underperform rating for the company in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. reissued 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, September 19th. Robert W. Baird lowered their price objective on shares of Bloom Energy from $16.00 to $9.00 and set a neutral rating for the company in a research report on Tuesday, August 13th. Finally, ValuEngine raised shares of Bloom Energy from a buy rating to a strong-buy rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Bloom Energy currently has a consensus rating of Buy and a consensus target price of $8.01.
BE traded up $0.63 during mid-day trading on Thursday, hitting $6.53. The stock had a trading volume of 7,152,539 shares, compared to its average volume of 3,305,053. The stock’s fifty day simple moving average is $3.46 and its 200-day simple moving average is $8.05. The company has a debt-to-equity ratio of 10.34, a current ratio of 1.75 and a quick ratio of 1.44. Bloom Energy has a 1-year low of $2.44 and a 1-year high of $17.80. The firm has a market capitalization of $613.11 million, a price-to-earnings ratio of -2.69 and a beta of 3.22.
In related news, COO Susan Seilheimer Brennan sold 55,486 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $3.41, for a total value of $189,207.26. Also, EVP Swaminathan Venkataraman sold 86,324 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $3.41, for a total transaction of $294,364.84. Insiders have sold 151,638 shares of company stock valued at $514,721 in the last three months. 36.45% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in BE. FLC Capital Advisors bought a new position in Bloom Energy in the third quarter valued at $40,000. BNP Paribas Arbitrage SA grew its position 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 valued at $49,000 after purchasing an additional 4,000 shares in the last quarter. Synovus Financial Corp bought a new position in Bloom Energy in the second quarter valued at $65,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Bloom Energy in the second quarter valued at $67,000. Finally, Sepio Capital LLC bought a new position in Bloom Energy in the third quarter valued at $84,000. 37.82% 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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