Bloom Energy (NYSE:BE) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Bloom Energy (NYSE:BE) from a hold rating to a sell rating in a report released on Friday, Zacks.com reports.

According to Zacks, “Bloom Energy Corporation generates and distributes renewable energy. It supplies electricity to the residential, commercial and industrial sectors. Bloom Energy Corporation is based in CA, United States. “

BE has been the subject of a number of other reports. Bank of America cut Bloom Energy from a neutral rating to an underperform rating in a report on Tuesday. JPMorgan Chase & Co. cut their price target on Bloom Energy from $33.00 to $18.00 and set an overweight rating for the company in a report on Tuesday. ValuEngine raised Bloom Energy from a buy rating to a strong-buy rating in a report on Thursday, August 1st. Robert W. Baird cut their price target on Bloom Energy from $16.00 to $9.00 and set a neutral rating for the company in a report on Tuesday. Finally, KeyCorp reissued an overweight rating and issued a $15.00 price target (down from $27.00) on shares of Bloom Energy in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Bloom Energy presently has a consensus rating of Hold and an average target price of $16.45.

Shares of BE stock opened at $5.12 on Friday. The stock has a fifty day moving average price of $10.66 and a 200 day moving average price of $11.89. The stock has a market cap of $557.60 million and a PE ratio of -2.11. Bloom Energy has a 1 year low of $4.41 and a 1 year high of $38.00. The company has a debt-to-equity ratio of 10.34, a quick ratio of 1.89 and a current ratio of 2.32.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.59) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.59). Bloom Energy had a negative return on equity of 387.28% and a negative net margin of 38.77%. The firm had revenue of $233.80 million during the quarter, compared to analysts’ expectations of $207.56 million. The firm’s quarterly revenue was up 38.4% on a year-over-year basis. As a group, equities research analysts predict that Bloom Energy will post -2.13 earnings per share for the current year.

In other news, COO Susan Seilheimer Brennan sold 11,471 shares of Bloom Energy stock in a transaction on Friday, May 31st. The stock was sold at an average price of $10.72, for a total value of $122,969.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Randy W. Furr sold 46,675 shares of Bloom Energy stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $11.16, for a total value of $520,893.00. The disclosure for this sale can be found here. 36.45% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in BE. BlackRock Inc. grew its stake in Bloom Energy by 29.3% in the fourth quarter. BlackRock Inc. now owns 432,121 shares of the company’s stock valued at $4,313,000 after purchasing an additional 97,927 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Bloom Energy by 167.6% during the fourth quarter. Bank of America Corp DE now owns 118,035 shares of the company’s stock worth $1,179,000 after acquiring an additional 73,928 shares during the last quarter. Millennium Management LLC grew its stake in shares of Bloom Energy by 108.7% during the fourth quarter. Millennium Management LLC now owns 29,049 shares of the company’s stock worth $290,000 after acquiring an additional 15,127 shares during the last quarter. Norges Bank purchased a new stake in shares of Bloom Energy during the fourth quarter worth about $998,000. Finally, Deutsche Bank AG grew its stake in shares of Bloom Energy by 77.5% during the fourth quarter. Deutsche Bank AG now owns 62,531 shares of the company’s stock worth $623,000 after acquiring an additional 27,295 shares during the last quarter. 33.58% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Company Profile

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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