Bloom Energy (NYSE:BE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The firm currently has a $6.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential downside of 8.12% from the company’s current price.
According to Zacks, “Bloom Energy Corporation generates and distributes renewable energy. It supplies electricity to the residential, commercial and industrial sectors. Bloom Energy Corporation is based in CA, United States. “
A number of other analysts also recently weighed in on BE. Raymond James decreased their price target on Bloom Energy from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, October 1st. Bank of America decreased their price target on Bloom Energy from $6.00 to $4.00 and set an “underperform” rating for the company in a report on Tuesday, September 3rd. Robert W. Baird decreased their price target on Bloom Energy from $16.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. ValuEngine upgraded Bloom Energy from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Finally, KeyCorp reiterated an “overweight” rating and set a $5.00 price target on shares of Bloom Energy in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $8.01.
In other Bloom Energy news, EVP Swaminathan Venkataraman sold 86,324 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $3.41, for a total transaction of $294,364.84. Also, COO Susan Seilheimer Brennan sold 55,486 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $3.41, for a total value of $189,207.26. Over the last quarter, insiders have sold 151,638 shares of company stock valued at $514,721. Company insiders own 36.45% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC acquired a new stake in Bloom Energy during the 3rd quarter worth about $120,000. SG Americas Securities LLC acquired a new stake in shares of Bloom Energy in the 3rd quarter valued at about $243,000. First Trust Advisors LP grew its stake in shares of Bloom Energy by 17.8% in the 3rd quarter. First Trust Advisors LP now owns 68,485 shares of the company’s stock valued at $223,000 after buying an additional 10,353 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Bloom Energy in the 3rd quarter valued at about $616,000. Finally, Handelsbanken Fonder AB grew its stake in shares of Bloom Energy by 121.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,317,631 shares of the company’s stock valued at $4,282,000 after buying an additional 722,654 shares during the period. Hedge funds and other institutional investors own 37.82% 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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