Bloom Energy (BE) Receives “Hold” Rating from Cowen

Cowen reaffirmed their hold rating on shares of Bloom Energy (NYSE:BE) in a research note published on Wednesday morning. Cowen currently has a $20.00 price objective on the stock.

A number of other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. set a $30.00 price target on shares of Bloom Energy and gave the company a buy rating in a research note on Tuesday. Credit Suisse Group raised shares of Bloom Energy from an underperform rating to a neutral rating and set a $24.00 price target on the stock in a research note on Wednesday, October 31st. Oppenheimer started coverage on shares of Bloom Energy in a research note on Monday, August 20th. They issued a market perform rating on the stock. KeyCorp started coverage on shares of Bloom Energy in a research note on Monday, August 20th. They issued an overweight rating and a $27.00 price target on the stock. Finally, Morgan Stanley started coverage on shares of Bloom Energy in a research note on Monday, August 20th. They issued an overweight rating and a $30.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $24.86.

Shares of NYSE BE traded up $1.36 during midday trading on Wednesday, reaching $19.45. 929,311 shares of the stock were exchanged, compared to its average volume of 535,157. Bloom Energy has a twelve month low of $17.11 and a twelve month high of $38.00.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Monday, November 5th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.49). The firm had revenue of $190.20 million for the quarter, compared to analyst estimates of $185.05 million. The business’s revenue was up 102.8% on a year-over-year basis. As a group, analysts forecast that Bloom Energy will post -2.11 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. acquired a new stake in Bloom Energy in the 3rd quarter valued at $108,000. PNC Financial Services Group Inc. acquired a new stake in Bloom Energy in the 3rd quarter valued at $116,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Bloom Energy in the 3rd quarter valued at $303,000. Bank of New York Mellon Corp acquired a new stake in Bloom Energy in the 3rd quarter valued at $555,000. Finally, Osborn Williams & Donohoe LLC acquired a new stake in Bloom Energy in the 3rd quarter valued at $571,000. 0.08% 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. 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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Analyst Recommendations for Bloom Energy (NYSE:BE)

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