Bloom Energy (BE) Downgraded by Zacks Investment Research to Sell
Zacks Investment Research downgraded shares of Bloom Energy (NYSE:BE) from a hold rating to a sell rating in a research note issued to investors on Monday morning.
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. “
Several other research firms also recently commented on BE. JPMorgan Chase & Co. set a $30.00 target price on Bloom Energy and gave the stock a buy rating in a research report on Tuesday, November 6th. Credit Suisse Group upgraded Bloom Energy from an underperform rating to a neutral rating and set a $24.00 target price for the company in a research report on Wednesday, October 31st. ValuEngine downgraded Bloom Energy from a buy rating to a hold rating in a research report on Wednesday, January 2nd. Finally, Cowen restated a hold rating and set a $20.00 target price on shares of Bloom Energy in a research report on Wednesday, November 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $24.86.
Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Monday, November 5th. The company reported ($1.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.56) by ($0.49). The business had revenue of $190.20 million during the quarter, compared to the consensus estimate of $185.05 million. The firm’s quarterly revenue was up 102.8% on a year-over-year basis. On average, sell-side analysts anticipate that Bloom Energy will post -2.11 EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Clearbridge Investments LLC acquired a new stake in shares of Bloom Energy during the third quarter worth $47,989,000. Napier Park Global Capital US LP bought a new position in Bloom Energy during the third quarter worth about $8,961,000. Allianz Asset Management GmbH bought a new position in Bloom Energy during the third quarter worth about $32,369,000. NEA Management Company LLC bought a new position in Bloom Energy during the third quarter worth about $45,440,000. Finally, Credit Suisse AG bought a new position in Bloom Energy during the third quarter worth about $13,231,000. 19.42% 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. 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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