Bloom Energy (NYSE:BE) Earns Overweight Rating from KeyCorp

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

Several other research analysts have also weighed in on the stock. 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. 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. 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. Zacks Investment Research lowered shares of Bloom Energy from a buy rating to a hold rating in a research note on Tuesday, July 9th. Finally, Bank of America lowered shares of Bloom Energy from a neutral rating to an underperform rating in a research note on Tuesday. Two equities 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’s stock. The stock has an average rating of Hold and an average target price of $16.45.

Shares of BE stock opened at $5.12 on Wednesday. The company has a quick ratio of 1.89, a current ratio of 2.32 and a debt-to-equity ratio of 10.34. The company has a 50-day moving average of $10.66 and a two-hundred day moving average 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 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 387.28%. The business’s revenue for the quarter was up 38.4% on a year-over-year basis. As a group, analysts expect that Bloom Energy will post -2.13 EPS for the current year.

In other news, COO Susan Seilheimer Brennan sold 11,471 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $10.72, for a total value of $122,969.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Randy W. Furr sold 46,675 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $11.16, for a total transaction of $520,893.00. The disclosure for this sale can be found here. Company insiders own 36.45% of the company’s stock.

A number of large investors have recently modified their holdings of BE. BlackRock Inc. raised its holdings in Bloom Energy by 721.2% in the second quarter. BlackRock Inc. now owns 3,047,269 shares of the company’s stock valued at $37,390,000 after acquiring an additional 2,676,215 shares in the last quarter. Vanguard Group Inc. raised its holdings in Bloom Energy by 160.2% during the second quarter. Vanguard Group Inc. now owns 3,839,447 shares of the company’s stock worth $47,110,000 after purchasing an additional 2,364,131 shares in the last quarter. FMR LLC acquired a new stake in Bloom Energy during the first quarter worth approximately $11,026,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Bloom Energy during the first quarter worth approximately $10,129,000. Finally, Granite Investment Partners LLC raised its holdings in Bloom Energy by 148.9% during the second quarter. Granite Investment Partners LLC now owns 1,077,185 shares of the company’s stock worth $13,217,000 after purchasing an additional 644,396 shares in the last quarter. 33.58% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Bloom Energy (NYSE:BE)

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