Bloom Energy (BE) Upgraded by Zacks Investment Research to “Hold”
Zacks Investment Research upgraded shares of Bloom Energy (NYSE:BE) from a sell rating to a hold rating in a research note published on Wednesday 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. “
A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. set a $30.00 target price on shares of Bloom Energy and gave the company a buy rating in a research note on Tuesday, November 6th. Credit Suisse Group reissued an underperform rating and set a $24.00 target price on shares of Bloom Energy in a research note on Monday, August 27th. Cowen reissued a hold rating and set a $20.00 target price on shares of Bloom Energy in a research note on Wednesday, November 7th. Oppenheimer started coverage on shares of Bloom Energy in a research note on Monday, August 20th. They set a market perform rating for the company. Finally, KeyCorp began coverage on shares of Bloom Energy in a research note on Monday, August 20th. They set an overweight rating and a $27.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $24.86.
Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Monday, November 5th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.49). The business had revenue of $190.20 million for the quarter, compared to analysts’ expectations of $185.05 million. The business’s revenue was up 102.8% compared to the same quarter last year. Equities analysts forecast that Bloom Energy will post -2.11 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. acquired a new stake in shares of Bloom Energy in the 3rd quarter valued at $108,000. PNC Financial Services Group Inc. acquired a new position in Bloom Energy during the 3rd quarter worth $116,000. Cambridge Investment Research Advisors Inc. acquired a new position in Bloom Energy during the 3rd quarter worth $303,000. Krane Funds Advisors LLC acquired a new position in Bloom Energy during the 3rd quarter worth $429,000. Finally, Bank of New York Mellon Corp acquired a new position in Bloom Energy during the 3rd quarter worth $555,000. 8.17% of the stock is owned by institutional investors and hedge funds.
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.
Recommended Story: Is the Dow Jones Industrial Average (DJIA) still relevant?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Bloom Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bloom Energy and related companies with MarketBeat.com's FREE daily email newsletter.