Bloom Energy (BE) Upgraded to Buy by ValuEngine

ValuEngine upgraded shares of Bloom Energy (NYSE:BE) from a hold rating to a buy rating in a research note published on Saturday.

Several other analysts also recently commented on BE. Zacks Investment Research downgraded Bloom Energy from a hold rating to a sell rating in a research note on Monday, January 7th. Raymond James set a $13.00 target price on Bloom Energy and gave the stock a buy rating in a research report on Thursday, March 7th. Finally, Credit Suisse Group upgraded Bloom Energy from a neutral rating to an outperform rating and set a $10.06 target price on the stock in a research report on Wednesday, February 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $21.63.

BE opened at $14.30 on Friday. The company has a quick ratio of 2.07, a current ratio of 2.57 and a debt-to-equity ratio of 6.76. The company has a market cap of $1.48 billion and a price-to-earnings ratio of -5.88. Bloom Energy has a 52 week low of $8.88 and a 52 week high of $38.00.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Tuesday, February 5th. The company reported ($0.92) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by ($0.06). The business had revenue of $213.61 million during the quarter, compared to analysts’ expectations of $205.23 million. On average, equities research analysts expect that Bloom Energy will post -2.43 earnings per share for the current fiscal year.

In related news, insider William Thayer sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $15.76, for a total value of $394,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Technology Ventures Adv Mobius sold 195,535 shares of the company’s stock in a transaction that occurred on Wednesday, January 23rd. The stock was sold at an average price of $11.88, for a total value of $2,322,955.80. The disclosure for this sale can be found here. Insiders have sold a total of 703,724 shares of company stock worth $8,064,479 in the last quarter.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BE. First Trust Advisors LP acquired a new stake in shares of Bloom Energy in the 3rd quarter worth approximately $2,310,000. Victory Capital Management Inc. acquired a new stake in shares of Bloom Energy in the 3rd quarter worth approximately $108,000. Wells Fargo & Company MN acquired a new stake in shares of Bloom Energy in the 3rd quarter worth approximately $9,454,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Bloom Energy in the 3rd quarter worth approximately $303,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Bloom Energy in the 3rd quarter worth approximately $1,966,000. Institutional investors and hedge funds own 19.90% of the company’s stock.

About Bloom Energy

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Bloom Energy (NYSE:BE)

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