Bloom Energy Corp (NYSE:BE) shares rose 6.3% on Thursday . The company traded as high as $3.74 and last traded at $3.55, approximately 4,118,389 shares were traded during trading. An increase of 160% from the average daily volume of 1,582,647 shares. The stock had previously closed at $3.34.
BE has been the subject of a number of research reports. JPMorgan Chase & Co. reissued an “overweight” rating and set a $12.00 target price (down previously from $18.00) on shares of Bloom Energy in a report on Thursday. KeyCorp reissued an “overweight” rating and set a $15.00 target price (down previously from $27.00) on shares of Bloom Energy in a report on Wednesday, August 14th. Zacks Investment Research downgraded Bloom Energy from a “hold” rating to a “sell” rating in a report on Thursday, September 5th. Robert W. Baird dropped their target price on Bloom Energy from $16.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Finally, Bank of America dropped their target price on Bloom Energy from $6.00 to $4.00 and set an “underperform” rating for the company in a report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $12.13.
The company has a debt-to-equity ratio of 10.34, a current ratio of 1.75 and a quick ratio of 1.44. The company has a market cap of $410.10 million, a P/E ratio of -1.46 and a beta of 3.31. The stock has a 50-day moving average of $5.87 and a 200 day moving average of $10.72.
Several hedge funds and other institutional investors have recently modified their holdings of BE. BlackRock Inc. increased its position in shares of Bloom Energy by 721.2% in the second quarter. BlackRock Inc. now owns 3,047,269 shares of the company’s stock worth $37,390,000 after purchasing an additional 2,676,215 shares during the period. Vanguard Group Inc. grew its position in Bloom Energy by 160.2% in the second quarter. Vanguard Group Inc. now owns 3,839,447 shares of the company’s stock valued at $47,110,000 after acquiring an additional 2,364,131 shares during the last quarter. FMR LLC bought a new position in Bloom Energy in the first quarter valued at about $11,026,000. Amundi Pioneer Asset Management Inc. bought a new position in Bloom Energy in the first quarter valued at about $10,129,000. Finally, Granite Investment Partners LLC grew its position in Bloom Energy by 148.9% in the second quarter. Granite Investment Partners LLC now owns 1,077,185 shares of the company’s stock valued at $13,217,000 after acquiring an additional 644,396 shares during the last quarter. Institutional investors own 39.67% of the company’s stock.
Bloom Energy Company Profile (NYSE:BE)
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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