Bloom Energy Corp (NYSE:BE) shares dropped 6.5% on Monday . The company traded as low as $9.32 and last traded at $9.41. Approximately 801,095 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 887,978 shares. The stock had previously closed at $10.06.
BE has been the topic of several analyst reports. JPMorgan Chase & Co. set a $30.00 target price on Bloom Energy and gave the stock a “buy” rating in a report on Tuesday, November 6th. ValuEngine raised Bloom Energy from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Cowen reaffirmed a “hold” rating and set a $20.00 target price on shares of Bloom Energy in a report on Wednesday, November 7th. Zacks Investment Research raised Bloom Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 21st. Finally, Credit Suisse Group raised Bloom Energy from an “underperform” rating to a “neutral” rating and set a $24.00 target price on the stock in a report on Wednesday, October 31st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $22.87.
The firm has a market capitalization of $1.11 billion and a P/E ratio of -3.87. The company has a debt-to-equity ratio of 6.76, a current ratio of 2.57 and a quick ratio of 2.07.
A number of institutional investors and hedge funds have recently modified their holdings of BE. Bamco Inc. NY acquired a new stake in Bloom Energy in the third quarter valued at approximately $89,467,000. Hsbc Holdings PLC acquired a new stake in Bloom Energy in the third quarter valued at approximately $61,387,000. Vanguard Group Inc. purchased a new position in shares of Bloom Energy in the third quarter valued at approximately $49,811,000. Vanguard Group Inc purchased a new position in shares of Bloom Energy in the third quarter valued at approximately $49,811,000. Finally, Clearbridge Investments LLC purchased a new position in shares of Bloom Energy in the third quarter valued at approximately $47,989,000. 19.52% of the stock is currently owned by institutional investors.
About Bloom Energy (NYSE:BE)
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.
Featured Story: Can individual investors take part in an IPO?
Receive News & Ratings for Bloom Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bloom Energy and related companies with MarketBeat.com's FREE daily email newsletter.