Bloom Energy (BE) Downgraded by Zacks Investment Research to “Sell”

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Zacks Investment Research downgraded shares of Bloom Energy (NYSE:BE) from a hold rating to a sell rating in a report released on Friday 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 equities analysts have also commented on BE. Bank of America started coverage on Bloom Energy in a report on Monday, August 20th. They issued an underperform rating and a $19.00 target price on the stock. Robert W. Baird started coverage on Bloom Energy in a report on Monday, August 20th. They issued a neutral rating and a $24.00 target price on the stock. Morgan Stanley started coverage on Bloom Energy in a report on Monday, August 20th. They issued an overweight rating and a $30.00 target price on the stock. KeyCorp started coverage on Bloom Energy in a report on Monday, August 20th. They issued an overweight rating and a $27.00 target price on the stock. Finally, JPMorgan Chase & Co. started coverage on Bloom Energy in a report on Monday, August 20th. They issued an overweight rating and a $32.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $24.86.

NYSE:BE traded up $1.36 during trading hours on Friday, hitting $19.45. The company’s stock had a trading volume of 929,311 shares, compared to its average volume of 535,157. Bloom Energy has a 52-week low of $17.11 and a 52-week high of $38.00.

Bloom Energy (NYSE:BE) last posted its earnings results on Monday, November 5th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.49). The company had revenue of $190.20 million during the quarter, compared to analysts’ expectations of $185.05 million. The business’s revenue for the quarter was up 102.8% on a year-over-year basis. Analysts predict that Bloom Energy will post -2.11 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of BE. Osborn Williams & Donohoe LLC purchased a new position in shares of Bloom Energy during the third quarter worth about $571,000. First Trust Advisors LP purchased a new position in shares of Bloom Energy during the third quarter worth about $2,310,000. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Bloom Energy during the third quarter worth about $1,932,000. Victory Capital Management Inc. acquired a new stake in shares of Bloom Energy during the third quarter worth about $108,000. Finally, Wells Fargo & Company MN acquired a new stake in shares of Bloom Energy during the third quarter worth about $9,454,000. 0.08% of the stock is currently owned by institutional investors.

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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