Shares of Bloom Energy Corp (NYSE:BE) have received a consensus recommendation of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $12.58.
Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Bloom Energy from $33.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Robert W. Baird lowered their price objective on Bloom Energy from $16.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Bank of America lowered their price objective on Bloom Energy from $6.00 to $4.00 and set an “underperform” rating for the company in a research note on Tuesday. ValuEngine raised Bloom Energy from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, Raymond James reduced their price objective on Bloom Energy from $16.00 to $12.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th.
Institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA lifted its stake in Bloom Energy by 25,000.0% in the second quarter. BNP Paribas Arbitrage SA now owns 4,016 shares of the company’s stock valued at $49,000 after buying an additional 4,000 shares in the last quarter. Synovus Financial Corp acquired a new position in Bloom Energy during the second quarter worth $65,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Bloom Energy in the second quarter valued at $67,000. Elgethun Capital Management acquired a new position in shares of Bloom Energy in the first quarter valued at $137,000. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of Bloom Energy in the second quarter valued at $162,000. Institutional investors own 39.67% of the company’s stock.
Shares of BE traded up $0.04 during mid-day trading on Friday, hitting $4.49. 1,279,900 shares of the company’s stock traded hands, compared to its average volume of 1,471,540. The company has a quick ratio of 1.44, a current ratio of 1.75 and a debt-to-equity ratio of 10.34. Bloom Energy has a 1 year low of $4.02 and a 1 year high of $38.00. The firm has a market capitalization of $521.20 million, a P/E ratio of -1.85 and a beta of 3.31. The business’s 50-day moving average price is $7.82 and its 200-day moving average price is $11.38.
Bloom Energy (NYSE:BE) last released its earnings results on Monday, August 12th. The company reported ($0.59) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.59). The business 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 539.17% and a negative net margin of 38.77%. Bloom Energy’s revenue for the quarter was up 38.4% compared to the same quarter last year. Sell-side analysts anticipate that Bloom Energy will post -2.07 earnings per share for the current fiscal year.
Bloom Energy Company Profile
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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