Bloom Energy Corp (NYSE:BE) rose 7.2% during mid-day trading on Wednesday . The stock traded as high as $5.22 and last traded at $4.89, approximately 3,255,200 shares traded hands during trading. An increase of 119% from the average daily volume of 1,486,740 shares. The stock had previously closed at $4.56.
BE has been the topic of a number of analyst reports. ValuEngine upgraded Bloom Energy from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. KeyCorp reissued an “overweight” rating and issued a $15.00 price target (down from $27.00) on shares of Bloom Energy in a research report on Wednesday, August 14th. JPMorgan Chase & Co. decreased their price objective on Bloom Energy from $33.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Raymond James dropped their price objective on Bloom Energy from $16.00 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Finally, Zacks Investment Research lowered Bloom Energy from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $12.88.
The stock’s 50-day moving average is $6.79 and its 200 day moving average is $11.09. The company has a debt-to-equity ratio of 10.34, a current ratio of 1.75 and a quick ratio of 1.44. The company has a market cap of $543.31 million, a PE ratio of -2.01 and a beta of 3.31.
Bloom Energy (NYSE:BE) last announced its earnings results on Monday, August 12th. The company reported ($0.59) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.59). The company had revenue of $233.80 million during the quarter, compared to the consensus estimate of $207.56 million. Bloom Energy had a negative net margin of 38.77% and a negative return on equity of 539.17%. Bloom Energy’s revenue for the quarter was up 38.4% on a year-over-year basis. On average, analysts expect that Bloom Energy Corp will post -2.07 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the business. Colony Group LLC acquired a new stake in Bloom Energy in the second quarter worth about $781,000. Point72 Europe London LLP increased its holdings in shares of Bloom Energy by 40.7% during the second quarter. Point72 Europe London LLP now owns 233,364 shares of the company’s stock valued at $2,863,000 after acquiring an additional 67,500 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Bloom Energy by 3,048.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 68,412 shares of the company’s stock valued at $839,000 after purchasing an additional 66,239 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Bloom Energy in the 2nd quarter valued at approximately $5,953,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in Bloom Energy in the 2nd quarter worth approximately $380,000. Institutional investors own 39.67% of the company’s stock.
About Bloom Energy (NYSE:BE)
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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