Bloom Energy (NYSE:BE) Rating Reiterated by KeyCorp

KeyCorp reissued their overweight rating on shares of Bloom Energy (NYSE:BE) in a research note published on Wednesday, BenzingaRatingsTable reports. The brokerage currently has a $15.00 target price on the stock, down from their previous target price of $27.00.

Several other brokerages have also weighed in on BE. Robert W. Baird lowered their target price on shares of Bloom Energy from $16.00 to $9.00 and set a neutral rating for the company in a research note on Tuesday, August 13th. Raymond James lowered their target price on shares of Bloom Energy from $16.00 to $12.00 and set an outperform rating for the company in a research note on Tuesday, August 13th. Bank of America lowered shares of Bloom Energy from a neutral rating to an underperform rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. lowered their target price on shares of Bloom Energy from $33.00 to $18.00 and set an overweight rating for the company in a research note on Tuesday, August 13th. Finally, Zacks Investment Research lowered shares of Bloom Energy from a buy rating to a hold rating in a research note on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Bloom Energy has a consensus rating of Hold and an average price target of $16.45.

Shares of BE opened at $5.12 on Wednesday. The company has a debt-to-equity ratio of 10.34, a current ratio of 1.75 and a quick ratio of 1.89. Bloom Energy has a 12-month low of $4.41 and a 12-month high of $38.00. The firm has a 50-day moving average price of $10.66 and a 200 day moving average price of $11.89.

Bloom Energy (NYSE:BE) last announced its earnings results on Monday, August 12th. The company reported ($0.59) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.59). The company had revenue of $233.80 million during the quarter, compared to analyst estimates of $207.56 million. Bloom Energy had a negative net margin of 38.77% and a negative return on equity of 539.17%. The business’s revenue for the quarter was up 38.4% on a year-over-year basis. On average, sell-side analysts anticipate that Bloom Energy will post -2.07 earnings per share for the current year.

In other news, CFO Randy W. Furr sold 46,675 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $11.16, for a total transaction of $520,893.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Susan Seilheimer Brennan sold 11,471 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $10.72, for a total transaction of $122,969.12. The disclosure for this sale can be found here. 36.45% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Icon Wealth Partners LLC lifted its position in shares of Bloom Energy by 7.6% during the second quarter. Icon Wealth Partners LLC now owns 19,625 shares of the company’s stock worth $241,000 after purchasing an additional 1,390 shares in the last quarter. LPL Financial LLC lifted its position in shares of Bloom Energy by 14.1% during the second quarter. LPL Financial LLC now owns 21,693 shares of the company’s stock worth $266,000 after purchasing an additional 2,684 shares in the last quarter. Dfpg Investments Inc. lifted its position in shares of Bloom Energy by 17.3% during the second quarter. Dfpg Investments Inc. now owns 20,100 shares of the company’s stock worth $260,000 after purchasing an additional 2,959 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Bloom Energy by 25,000.0% during the second quarter. BNP Paribas Arbitrage SA now owns 4,016 shares of the company’s stock worth $49,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in shares of Bloom Energy by 19.5% during the second quarter. Commonwealth Equity Services LLC now owns 26,766 shares of the company’s stock worth $328,000 after purchasing an additional 4,374 shares in the last quarter. 33.58% of the stock is currently 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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Analyst Recommendations for Bloom Energy (NYSE:BE)

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