Bloom Energy (NYSE:BE – Get Free Report) was downgraded by research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued to investors on Monday, MarketBeat reports. They presently have a $10.00 target price on the stock, down from their previous target price of $16.00. Bank of America‘s target price indicates a potential downside of 19.81% from the stock’s current price.
A number of other brokerages also recently weighed in on BE. Raymond James dropped their target price on shares of Bloom Energy from $25.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, October 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Bloom Energy from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, October 19th. HSBC dropped their price objective on Bloom Energy from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, October 24th. Morgan Stanley dropped their price objective on Bloom Energy from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, December 6th. Finally, BTIG Research assumed coverage on shares of Bloom Energy in a research note on Thursday. They set a “buy” rating and a $21.00 price target for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Bloom Energy has an average rating of “Moderate Buy” and an average price target of $19.65.
Check Out Our Latest Research Report on Bloom Energy
Bloom Energy Price Performance
Shares of NYSE BE opened at $12.47 on Monday. The stock has a market cap of $2.79 billion, a PE ratio of -7.34 and a beta of 2.80. The business has a fifty day moving average of $13.61 and a two-hundred day moving average of $13.79. Bloom Energy has a 52-week low of $9.51 and a 52-week high of $26.55. The company has a debt-to-equity ratio of 2.48, a quick ratio of 2.61 and a current ratio of 3.64.
Bloom Energy (NYSE:BE – Get Free Report) last posted its earnings results on Wednesday, November 8th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.22. Bloom Energy had a negative net margin of 24.58% and a negative return on equity of 23.36%. The company had revenue of $400.27 million during the quarter, compared to analysts’ expectations of $362.75 million. As a group, equities research analysts expect that Bloom Energy will post -0.59 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Pinnacle Associates Ltd. boosted its holdings in shares of Bloom Energy by 65.2% during the third quarter. Pinnacle Associates Ltd. now owns 582,039 shares of the company’s stock worth $7,718,000 after acquiring an additional 229,639 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Bloom Energy in the second quarter valued at approximately $313,000. Frontier Capital Management Co. LLC boosted its stake in shares of Bloom Energy by 391.5% in the second quarter. Frontier Capital Management Co. LLC now owns 2,252,606 shares of the company’s stock valued at $36,830,000 after buying an additional 1,794,303 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Bloom Energy by 4.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,465,240 shares of the company’s stock valued at $23,957,000 after buying an additional 58,067 shares during the period. Finally, WealthPLAN Partners LLC bought a new stake in shares of Bloom Energy in the second quarter valued at approximately $33,000. 82.95% of the stock is currently owned by institutional investors.
About Bloom Energy
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Bloom Energy, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Bloom Energy wasn’t on the list.
While Bloom Energy currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Source: marketbeat.com
