Bank of America cut shares of Bloom Energy (NYSE:BE) from a neutral rating to an underperform rating in a research note published on Tuesday, Briefing.com Automated Import reports.

Several other research firms also recently weighed in on BE. Raymond James decreased their price target on shares of Bloom Energy from $16.00 to $12.00 and set an outperform rating for the company in a research note on Tuesday. Robert W. Baird decreased their price target on shares of Bloom Energy from $16.00 to $9.00 and set a neutral rating for the company in a research note on Tuesday. Zacks Investment Research downgraded shares of Bloom Energy from a buy rating to a hold rating in a research note on Tuesday, July 9th. ValuEngine raised shares of Bloom Energy from a buy rating to a strong-buy rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Bloom Energy from $33.00 to $18.00 and set an overweight rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Bloom Energy currently has an average rating of Hold and a consensus target price of $16.45.

Shares of NYSE BE opened at $5.12 on Tuesday. The company has a debt-to-equity ratio of 10.34, a current ratio of 2.32 and a quick ratio of 1.89. The company has a market cap of $581.43 million and a P/E ratio of -2.11. Bloom Energy has a 1 year low of $4.41 and a 1 year high of $38.00. The firm has a 50-day simple moving average of $10.66 and a two-hundred day simple moving average of $11.89.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.59) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.59). Bloom Energy had a negative net margin of 38.77% and a negative return on equity of 387.28%. The firm had revenue of $233.80 million during the quarter, compared to the consensus estimate of $207.56 million. The company’s quarterly revenue was up 38.4% compared to the same quarter last year. As a group, equities research analysts expect that Bloom Energy will post -2.02 EPS for the current year.

In related news, COO Susan Seilheimer Brennan sold 11,471 shares of Bloom Energy stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $10.72, for a total transaction of $122,969.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Randy W. Furr sold 46,675 shares of Bloom Energy stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $11.16, for a total transaction of $520,893.00. The disclosure for this sale can be found here. Company insiders own 36.45% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA grew its holdings in Bloom Energy by 25,000.0% in the second quarter. BNP Paribas Arbitrage SA now owns 4,016 shares of the company’s stock worth $49,000 after purchasing an additional 4,000 shares during the last quarter. Synovus Financial Corp purchased a new position in Bloom Energy in the second quarter worth $65,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Bloom Energy in the second quarter worth $67,000. Elgethun Capital Management purchased a new position in Bloom Energy in the first quarter worth $137,000. Finally, Chicago Capital LLC purchased a new position in Bloom Energy in the first quarter worth $150,000. 33.58% 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 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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Analyst Recommendations for Bloom Energy (NYSE:BE)

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