Bloom Energy (BE) Downgraded by Zacks Investment Research

Bloom Energy (NYSE:BE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

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. “

A number of other analysts have also recently commented on BE. Bank of America initiated coverage on Bloom Energy in a research report on Monday, August 20th. They set an “underperform” rating and a $19.00 price target for the company. Robert W. Baird initiated coverage on Bloom Energy in a research report on Monday, August 20th. They set a “neutral” rating and a $24.00 price target for the company. Morgan Stanley initiated coverage on Bloom Energy in a research report on Monday, August 20th. They set an “overweight” rating and a $30.00 price target for the company. KeyCorp initiated coverage on Bloom Energy in a research report on Monday, August 20th. They set an “overweight” rating and a $27.00 price target for the company. Finally, JPMorgan Chase & Co. began coverage on Bloom Energy in a research report on Monday, August 20th. They set an “overweight” rating and a $32.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Bloom Energy has an average rating of “Hold” and a consensus target price of $24.86.

BE traded down $1.83 on Thursday, reaching $15.46. 847,400 shares of the stock were exchanged, compared to its average volume of 736,628. Bloom Energy has a fifty-two week low of $15.28 and a fifty-two week high of $38.00.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bamco Inc. NY purchased a new position in shares of Bloom Energy during the 3rd quarter valued at about $89,467,000. Laurion Capital Management LP purchased a new position in shares of Bloom Energy during the 3rd quarter valued at about $13,632,000. Kornitzer Capital Management Inc. KS purchased a new position in shares of Bloom Energy during the 3rd quarter valued at about $3,663,000. JPMorgan Chase & Co. purchased a new position in shares of Bloom Energy during the 3rd quarter valued at about $1,966,000. Finally, NEA Management Company LLC purchased a new position in shares of Bloom Energy during the 3rd quarter valued at about $45,440,000. Institutional investors and hedge funds own 0.51% of the company’s stock.

Bloom Energy Company Profile

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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