Bloom Energy (NYSE:BE) Stock Price Up 6.3%

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.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.59) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.59). Bloom Energy had a negative return on equity of 539.17% and a negative net margin of 38.77%. The company had revenue of $233.80 million for the quarter, compared to analysts’ expectations of $207.56 million. The company’s revenue was up 38.4% compared to the same quarter last year. Sell-side analysts predict that Bloom Energy Corp will post -2.07 EPS for the current year.

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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