Bloom Energy (NYSE:BE) Given “Overweight” Rating at JPMorgan Chase & Co.
JPMorgan Chase & Co. reaffirmed their overweight rating on shares of Bloom Energy (NYSE:BE) in a report issued on Thursday, The Fly reports. The firm currently has a $12.00 price objective on the stock, down from their previous price objective of $18.00.
A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Bloom Energy from a hold rating to a sell rating in a research note on Thursday, September 5th. Bank of America reduced their price objective on Bloom Energy from $6.00 to $4.00 and set an underperform rating for the company in a research note on Tuesday, September 3rd. ValuEngine upgraded Bloom Energy from a buy rating to a strong-buy rating in a research note 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 research note on Tuesday, August 13th. Finally, Raymond James cut their price target on Bloom Energy from $16.00 to $12.00 and set an outperform rating for the company in a research note on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $12.13.
Shares of NYSE:BE opened at $3.32 on Thursday. The company has a market capitalization of $413.01 million, a PE ratio of -1.37 and a beta of 3.31. The company has a debt-to-equity ratio of 10.34, a current ratio of 1.75 and a quick ratio of 1.44. The business has a fifty day moving average price of $5.73 and a two-hundred day moving average price of $10.65. Bloom Energy has a 1 year low of $3.08 and a 1 year high of $38.00.
Several hedge funds have recently bought and sold shares of the company. Allianz Asset Management GmbH lifted its holdings 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. Advisor Group Inc. lifted its holdings in Bloom Energy by 52.8% during the 2nd quarter. Advisor Group Inc. now owns 30,317 shares of the company’s stock worth $372,000 after purchasing an additional 10,470 shares in the last quarter. Strs Ohio purchased a new stake in Bloom Energy during the 2nd quarter worth about $180,000. JPMorgan Chase & Co. lifted its holdings in Bloom Energy by 127.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 837,885 shares of the company’s stock worth $9,753,000 after purchasing an additional 470,291 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Bloom Energy by 186.1% during the 2nd quarter. First Trust Advisors LP now owns 58,132 shares of the company’s stock worth $713,000 after purchasing an additional 37,815 shares in the last quarter. Institutional investors own 39.67% of the company’s stock.
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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