Credit Suisse AG Takes Position in Bloom Energy Corp (BE)
Credit Suisse AG purchased a new stake in Bloom Energy Corp (NYSE:BE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 388,218 shares of the company’s stock, valued at approximately $13,231,000. Credit Suisse AG owned about 0.37% of Bloom Energy at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. Eagle Asset Management Inc. purchased a new position in shares of Bloom Energy during the third quarter valued at approximately $24,522,000. BlackRock Inc. purchased a new position in Bloom Energy during the third quarter worth approximately $11,389,000. Wells Fargo & Company MN purchased a new position in Bloom Energy during the third quarter worth approximately $9,454,000. Napier Park Global Capital US LP purchased a new position in Bloom Energy during the third quarter worth approximately $8,961,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Bloom Energy during the third quarter worth approximately $3,809,000. Institutional investors and hedge funds own 19.42% of the company’s stock.
A number of equities analysts have weighed in on BE shares. Zacks Investment Research downgraded shares of Bloom Energy from a “hold” rating to a “sell” rating in a research note on Friday, November 9th. Morgan Stanley started coverage on shares of Bloom Energy in a research note on Monday, August 20th. They set an “overweight” rating and a $30.00 price target on the stock. Credit Suisse Group reaffirmed an “underperform” rating and set a $24.00 price target on shares of Bloom Energy in a research note on Monday, August 27th. Bank of America started coverage on shares of Bloom Energy in a research note on Monday, August 20th. They set an “underperform” rating and a $19.00 price target on the stock. Finally, JPMorgan Chase & Co. set a $30.00 price target on shares of Bloom Energy and gave the stock a “buy” rating in a research note on Tuesday, November 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $24.86.
Bloom Energy (NYSE:BE) last released its quarterly earnings data on Monday, November 5th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.49). The firm had revenue of $190.20 million for the quarter, compared to the consensus estimate of $185.05 million. The firm’s revenue for the quarter was up 102.8% on a year-over-year basis. As a group, equities research analysts predict that Bloom Energy Corp will post -2.11 EPS for the current fiscal year.
Bloom Energy Profile
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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