Bloom Energy (NYSE:BE) Shares Up 9.8%

Bloom Energy Corp (NYSE:BE) shares shot up 9.8% during trading on Thursday . The company traded as high as $3.63 and last traded at $3.37, 3,628,595 shares were traded during mid-day trading. An increase of 124% from the average session volume of 1,622,231 shares. The stock had previously closed at $3.07.

A number of brokerages recently commented on BE. Raymond James decreased their price target on shares of Bloom Energy from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 1st. Bank of America decreased their price target on shares of Bloom Energy from $6.00 to $4.00 and set an “underperform” rating on the stock in a research note on Tuesday, September 3rd. Zacks Investment Research lowered shares of Bloom Energy from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Morgan Stanley reiterated a “buy” rating on shares of Bloom Energy in a research note on Wednesday, September 18th. Finally, KeyCorp reiterated an “overweight” rating and issued a $15.00 price target (down previously from $27.00) on shares of Bloom Energy in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $11.88.

The stock’s 50-day simple moving average is $3.94 and its 200-day simple moving average is $9.58. The company has a current ratio of 1.75, a quick ratio of 1.44 and a debt-to-equity ratio of 10.34.

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

In other news, COO Susan Seilheimer Brennan sold 55,486 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $3.41, for a total transaction of $189,207.26. Also, EVP Swaminathan Venkataraman sold 86,324 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $3.41, for a total transaction of $294,364.84. In the last ninety days, insiders have sold 146,607 shares of company stock valued at $499,930. 36.45% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA lifted its holdings in shares of Bloom Energy by 25,000.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,016 shares of the company’s stock worth $49,000 after acquiring an additional 4,000 shares during the period. Synovus Financial Corp bought a new position in Bloom Energy in the 2nd quarter valued at approximately $65,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Bloom Energy in the 2nd quarter valued at approximately $67,000. Norman Fields Gottscho Capital Management LLC bought a new position in Bloom Energy in the 3rd quarter valued at approximately $155,000. Finally, NumerixS Investment Technologies Inc bought a new position in Bloom Energy in the 2nd quarter valued at approximately $162,000. 39.67% of the stock is owned by institutional investors.

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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