Bank of America Lowers Bloom Energy (NYSE:BE) to Underperform

Bank of America cut shares of Bloom Energy (NYSE:BEFree Report) from a neutral rating to an underperform rating in a research note released on Monday, Marketbeat reports. They currently have $10.00 target price on the stock, down from their previous target price of $16.00.

Several other equities research analysts have also issued reports on the stock. CL King started coverage on shares of Bloom Energy in a research note on Friday, November 17th. They set a buy rating and a $15.00 target price on the stock. Royal Bank of Canada dropped their target price on shares of Bloom Energy from $24.00 to $21.00 and set an outperform rating for the company in a report on Friday, January 12th. Susquehanna decreased their price target on shares of Bloom Energy from $28.00 to $23.00 and set a positive rating for the company in a research report on Friday, November 10th. Robert W. Baird raised shares of Bloom Energy from a neutral rating to an outperform rating and raised their price target for the company from $16.00 to $22.00 in a research report on Wednesday, January 10th. Finally, Morgan Stanley decreased their price objective on shares of Bloom Energy from $23.00 to $22.00 and set an overweight rating for the company in a research report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $19.65.

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Bloom Energy Stock Down 0.4 %

Bloom Energy stock opened at $11.32 on Monday. The business has a fifty day moving average of $13.53 and a two-hundred day moving average of $13.69. The company has a quick ratio of 2.61, a current ratio of 3.64 and a debt-to-equity ratio of 2.48. The firm has a market cap of $2.54 billion, a P/E ratio of -6.66 and a beta of 2.80. Bloom Energy has a twelve month low of $9.51 and a twelve month high of $26.55.

Bloom Energy (NYSE:BEGet Free Report) last posted its earnings results on Wednesday, November 8th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.22. The company had revenue of $400.27 million during the quarter, compared to analyst estimates of $362.75 million. Bloom Energy had a negative return on equity of 23.36% and a negative net margin of 24.58%. On average, analysts forecast that Bloom Energy will post -0.59 earnings per share for the current fiscal year.

Institutional Trading of Bloom Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. WealthPLAN Partners LLC purchased a new position in Bloom Energy in the second quarter valued at about $33,000. Millburn Ridgefield Corp purchased a new position in Bloom Energy in the third quarter valued at about $33,000. Allspring Global Investments Holdings LLC grew its stake in Bloom Energy by 17.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock valued at $102,000 after purchasing an additional 1,117 shares in the last quarter. Quantbot Technologies LP grew its stake in Bloom Energy by 27.8% in the first quarter. Quantbot Technologies LP now owns 4,673 shares of the company’s stock valued at $112,000 after purchasing an additional 1,017 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Bloom Energy during the 1st quarter worth about $123,000. Institutional investors own 82.95% of the company’s stock.

About Bloom Energy

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Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion.

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Analyst Recommendations for Bloom Energy (NYSE:BE)

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