Bloom Energy (BE) Reaches New 52-Week Low

CORRECTION: An earlier version of this article referred to Technology Ventures Adv Mobius as an insider. They are a shareholder.

Bloom Energy Corp (NYSE:BE)’s share price hit a new 52-week low during trading on Wednesday. The company traded as low as $9.12 and last traded at $9.45, with a volume of 48159 shares trading hands. The stock had previously closed at $9.88.

A number of equities research analysts recently commented on BE shares. Zacks Investment Research cut shares of Bloom Energy from a “hold” rating to a “sell” rating in a report on Monday, January 7th. Credit Suisse Group raised shares of Bloom Energy from an “underperform” rating to a “neutral” rating and set a $24.00 price target on the stock in a report on Wednesday, October 31st. ValuEngine cut shares of Bloom Energy from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, JPMorgan Chase & Co. set a $30.00 price target on shares of Bloom Energy and gave the stock a “buy” rating in a report on Tuesday, November 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $24.86.

The company has a quick ratio of 2.07, a current ratio of 2.57 and a debt-to-equity ratio of 6.76.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Monday, November 5th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.49). The company had revenue of $190.20 million for the quarter, compared to analyst estimates of $185.05 million. The firm’s revenue for the quarter was up 102.8% compared to the same quarter last year. On average, analysts anticipate that Bloom Energy Corp will post -2.11 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. purchased a new position in shares of Bloom Energy during the 3rd quarter valued at $108,000. PNC Financial Services Group Inc. purchased a new position in shares of Bloom Energy during the 3rd quarter valued at $116,000. Osborn Williams & Donohoe LLC grew its position in shares of Bloom Energy by 73.1% during the 4th quarter. Osborn Williams & Donohoe LLC now owns 29,000 shares of the company’s stock valued at $289,000 after purchasing an additional 12,250 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Bloom Energy during the 3rd quarter valued at $303,000. Finally, Krane Funds Advisors LLC purchased a new position in shares of Bloom Energy during the 3rd quarter valued at $429,000. Institutional investors and hedge funds own 19.42% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece was originally posted by Fairfield Current and is the property of of Fairfield Current. If you are viewing this piece on another domain, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.fairfieldcurrent.com/news/2019/02/01/bloom-energy-be-reaches-new-52-week-low.html.

Bloom Energy Company Profile (NYSE:BE)

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.

Featured Article: The components of the Stochastic Momentum Index



Leave a Reply