Bloom Energy (BE) Shares Up 11.7%

Shares of Bloom Energy Corp (NYSE:BE) shot up 11.7% during trading on Thursday . The company traded as high as $17.80 and last traded at $17.26. 728,200 shares changed hands during trading, an increase of 3% from the average session volume of 708,158 shares. The stock had previously closed at $15.45.

A number of brokerages have commented on BE. Zacks Investment Research cut shares of Bloom Energy from a “hold” rating to a “sell” rating in a report on Friday, November 9th. Robert W. Baird began coverage on shares of Bloom Energy in a report on Monday, August 20th. They set a “neutral” rating and a $24.00 target price for the company. Morgan Stanley began coverage on shares of Bloom Energy in a report on Monday, August 20th. They set an “overweight” rating and a $30.00 target price for the company. Credit Suisse Group began coverage on shares of Bloom Energy in a report on Monday, August 20th. They set a “neutral” rating and a $24.00 target price for the company. Finally, Bank of America began coverage on shares of Bloom Energy in a report on Monday, August 20th. They set an “underperform” rating and a $19.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Bloom Energy has an average rating of “Hold” and a consensus price target of $24.86.

The company has a current ratio of 2.57, a quick ratio of 2.07 and a debt-to-equity ratio of 6.76.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Monday, November 5th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.56) by ($0.49). The firm had revenue of $190.20 million for the quarter, compared to analysts’ expectations of $185.05 million. Bloom Energy’s revenue was up 102.8% compared to the same quarter last year. As a group, research analysts predict that Bloom Energy Corp will post -2.11 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bamco Inc. NY purchased a new stake in shares of Bloom Energy in the third quarter worth $89,467,000. Hsbc Holdings PLC purchased a new stake in shares of Bloom Energy in the third quarter worth $61,387,000. Vanguard Group Inc. purchased a new stake in shares of Bloom Energy in the third quarter worth $49,811,000. Clearbridge Investments LLC purchased a new stake in shares of Bloom Energy in the third quarter worth $47,989,000. Finally, NEA Management Company LLC purchased a new stake in shares of Bloom Energy in the third quarter worth $45,440,000. 8.17% of the stock is owned by hedge funds and other institutional investors.

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Bloom Energy Company Profile (NYSE:BE)

Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems. It 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. The company was formerly known as Ion America Corp.

Further Reading: Market Capitalization in the Stock Market

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