Bloom Energy (NYSE:BE) Stock Price Up 0.4%

Shares of Bloom Energy Corp (NYSE:BE) rose 0.4% during trading on Monday . The stock traded as high as $5.50 and last traded at $5.19, approximately 83,451 shares traded hands during trading. A decline of 95% from the average daily volume of 1,755,223 shares. The stock had previously closed at $5.17.

BE has been the subject of several research analyst reports. Robert W. Baird reduced their target price on shares of Bloom Energy from $16.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Bank of America cut their price objective on shares of Bloom Energy from $6.00 to $4.00 and set an “underperform” rating for the company in a report on Tuesday, September 3rd. KeyCorp reissued an “overweight” rating and issued a $5.00 price objective on shares of Bloom Energy in a report on Monday, October 14th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $12.00 price objective (down previously from $18.00) on shares of Bloom Energy in a report on Thursday, September 19th. Finally, ValuEngine raised shares of Bloom Energy from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $9.29.

The company has a debt-to-equity ratio of 10.34, a quick ratio of 1.44 and a current ratio of 1.75. The stock has a market cap of $601.48 million, a P/E ratio of -2.26 and a beta of 3.22. The stock’s fifty day simple moving average is $3.27 and its 200-day simple moving average is $8.19.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.59) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.59). The firm had revenue of $233.80 million during the quarter, compared to the consensus estimate of $207.56 million. Bloom Energy had a negative net margin of 38.77% and a negative return on equity of 539.17%. The company’s quarterly revenue was up 38.4% compared to the same quarter last year. As a group, equities research analysts forecast that Bloom Energy Corp will post -2.07 earnings per share for the current year.

In other news, EVP Swaminathan Venkataraman sold 86,324 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 $294,364.84. Also, COO Susan Seilheimer Brennan sold 55,486 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 $189,207.26. Insiders sold a total of 151,638 shares of company stock valued at $514,721 in the last three months. Insiders own 36.45% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Bloom Energy by 160.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,839,447 shares of the company’s stock worth $47,110,000 after acquiring an additional 2,364,131 shares during the period. Allianz Asset Management GmbH increased its position in Bloom Energy by 18.8% during the 2nd quarter. Allianz Asset Management GmbH now owns 3,183,766 shares of the company’s stock worth $39,065,000 after purchasing an additional 504,302 shares in the last quarter. BlackRock Inc. increased its position in Bloom Energy by 721.2% during the 2nd 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 in the last quarter. Eagle Asset Management Inc. increased its position in Bloom Energy by 5.4% during the 2nd quarter. Eagle Asset Management Inc. now owns 2,216,824 shares of the company’s stock worth $27,200,000 after purchasing an additional 114,020 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in Bloom Energy by 121.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,317,631 shares of the company’s stock worth $4,282,000 after purchasing an additional 722,654 shares in the last quarter. 38.89% of the stock is owned by institutional investors.

About Bloom Energy (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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