Bloom Energy (BE) Issues Quarterly Earnings Results

Bloom Energy (NYSE:BE) issued its quarterly earnings results on Monday. The company reported ($1.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.49), Morningstar.com reports. The business had revenue of $190.20 million during the quarter, compared to the consensus estimate of $185.05 million. The company’s quarterly revenue was up 102.8% compared to the same quarter last year.

Shares of BE stock opened at $17.25 on Wednesday. Bloom Energy has a one year low of $17.11 and a one year high of $38.00.

A number of hedge funds have recently made changes to their positions in BE. Osborn Williams & Donohoe LLC acquired a new position in Bloom Energy in the third quarter worth $571,000. Gilder Gagnon Howe & Co. LLC acquired a new position in Bloom Energy in the third quarter worth $1,932,000. Cambridge Investment Research Advisors Inc. acquired a new position in Bloom Energy in the third quarter worth $303,000. Wells Fargo & Company MN acquired a new position in Bloom Energy in the third quarter worth $9,454,000. Finally, Victory Capital Management Inc. acquired a new position in Bloom Energy in the third quarter worth $108,000. 0.08% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently issued reports on BE. Cowen restated a “hold” rating and set a $20.00 price objective on shares of Bloom Energy in a research report on Wednesday. JPMorgan Chase & Co. set a $30.00 price objective on Bloom Energy and gave the company a “buy” rating in a research report on Tuesday. Robert W. Baird began coverage on Bloom Energy in a research report on Monday, August 20th. They set a “neutral” rating and a $24.00 price objective on the stock. KeyCorp began coverage on Bloom Energy in a research report on Monday, August 20th. They set an “overweight” rating and a $27.00 price objective on the stock. Finally, Oppenheimer began coverage on Bloom Energy in a research report on Monday, August 20th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Bloom Energy has a consensus rating of “Hold” and a consensus price target of $24.86.

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About Bloom Energy

Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems. It 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. The company was formerly known as Ion America Corp.

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