Raymond James Lowers Bloom Energy (NYSE:BE) Price Target to $12.00

Bloom Energy (NYSE:BE) had its target price cut by Raymond James from $16.00 to $12.00 in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently issued reports on BE. Zacks Investment Research cut shares of Bloom Energy from a buy rating to a hold rating in a research note on Tuesday, July 9th. Bank of America upgraded shares of Bloom Energy from an underperform rating to a neutral rating in a research note on Thursday, June 20th. Finally, ValuEngine upgraded shares of Bloom Energy from a buy rating to a strong-buy rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $16.45.

BE opened at $5.12 on Tuesday. The company has a current ratio of 2.32, a quick ratio of 1.89 and a debt-to-equity ratio of 10.34. The firm has a fifty day moving average price of $10.66 and a 200 day moving average price of $11.89. Bloom Energy has a 1 year low of $4.41 and a 1 year high of $38.00.

Bloom Energy (NYSE:BE) last posted its earnings results on Monday, August 12th. The company reported ($0.59) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.59). Bloom Energy had a negative net margin of 38.77% and a negative return on equity of 387.28%. The firm had revenue of $233.80 million during the quarter, compared to analysts’ expectations of $207.56 million. Bloom Energy’s quarterly revenue was up 38.4% on a year-over-year basis. On average, research analysts forecast that Bloom Energy will post -2.13 EPS for the current year.

In other Bloom Energy news, CFO Randy W. Furr sold 46,675 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $11.16, for a total transaction of $520,893.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Susan Seilheimer Brennan sold 11,471 shares of the company’s stock in a transaction on 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. Corporate insiders own 36.45% of the company’s stock.

A number of large investors have recently bought and sold shares of BE. BlackRock Inc. lifted its position in shares of Bloom Energy by 29.3% during the 4th quarter. BlackRock Inc. now owns 432,121 shares of the company’s stock worth $4,313,000 after buying an additional 97,927 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Bloom Energy by 167.6% in the 4th quarter. Bank of America Corp DE now owns 118,035 shares of the company’s stock worth $1,179,000 after purchasing an additional 73,928 shares during the period. Millennium Management LLC raised its holdings in shares of Bloom Energy by 108.7% in the 4th quarter. Millennium Management LLC now owns 29,049 shares of the company’s stock worth $290,000 after purchasing an additional 15,127 shares during the period. Norges Bank bought a new stake in shares of Bloom Energy in the 4th quarter worth approximately $998,000. Finally, Deutsche Bank AG raised its holdings in shares of Bloom Energy by 77.5% in the 4th quarter. Deutsche Bank AG now owns 62,531 shares of the company’s stock worth $623,000 after purchasing an additional 27,295 shares during the period. Institutional investors own 33.58% of the company’s stock.

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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