KeyCorp reissued their overweight rating on shares of Bloom Energy (NYSE:BE) in a research report report published on Wednesday morning, BenzingaRatingsTable reports. KeyCorp currently has a $15.00 target price on the stock, down from their previous target price of $27.00.
Other equities research analysts also recently issued research reports about the company. Raymond James reduced their target price on Bloom Energy from $16.00 to $12.00 and set an outperform rating on the stock in a report on Tuesday. Zacks Investment Research downgraded Bloom Energy from a buy rating to a hold rating in a report on Tuesday, July 9th. Robert W. Baird reduced their target price on Bloom Energy from $16.00 to $9.00 and set a neutral rating on the stock in a report on Tuesday. Bank of America downgraded Bloom Energy from a neutral rating to an underperform rating in a report on Tuesday. Finally, ValuEngine raised Bloom Energy from a buy rating to a strong-buy rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Bloom Energy presently has an average rating of Buy and a consensus price target of $16.45.
Shares of BE stock traded up $0.19 during trading hours on Wednesday, reaching $5.10. The company’s stock had a trading volume of 1,680,139 shares, compared to its average volume of 1,207,627. The company’s 50 day moving average is $10.94. The firm has a market capitalization of $908.51 million and a P/E ratio of -2.10. Bloom Energy has a fifty-two week low of $4.41 and a fifty-two week high of $38.00. The company has a quick ratio of 1.89, a current ratio of 2.32 and a debt-to-equity ratio of 10.34.
Bloom Energy (NYSE:BE) last issued its earnings results on Monday, August 12th. The company reported ($0.59) earnings per share for the quarter, meeting the Zacks’ 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 return on equity of 387.28% and a negative net margin of 38.77%. The company’s quarterly revenue was up 38.4% on a year-over-year basis. On average, research analysts expect that Bloom Energy will post -2.02 EPS for the current 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 stock was sold at an average price of $11.16, for a total transaction of $520,893.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 value 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 made changes to their positions in BE. BlackRock Inc. lifted its holdings in Bloom Energy by 721.2% during the 2nd quarter. BlackRock Inc. now owns 3,047,269 shares of the company’s stock worth $37,390,000 after buying an additional 2,676,215 shares during the period. Vanguard Group Inc. lifted its holdings in Bloom Energy by 160.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,839,447 shares of the company’s stock worth $47,110,000 after buying an additional 2,364,131 shares during the period. FMR LLC acquired a new position in Bloom Energy during the 1st quarter worth about $11,026,000. Amundi Pioneer Asset Management Inc. acquired a new position in Bloom Energy during the 1st quarter worth about $10,129,000. Finally, Granite Investment Partners LLC lifted its holdings in Bloom Energy by 148.9% during the 2nd quarter. Granite Investment Partners LLC now owns 1,077,185 shares of the company’s stock worth $13,217,000 after buying an additional 644,396 shares during the period. 33.58% of the stock is currently owned by hedge funds and other 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.
See Also: Are sell-side analysts objective?
Receive News & Ratings for Bloom Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bloom Energy and related companies with MarketBeat.com's FREE daily email newsletter.