Bloom Energy (NYSE:BE) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Bloom Energy (NYSE:BE) from a buy rating to a hold rating in a research note released on Tuesday, reports.

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. “

Separately, Bank of America set a $7.00 target price on CannTrust and gave the stock a buy rating in a report on Thursday, June 20th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Bloom Energy currently has an average rating of Buy and an average price target of $20.90.

NYSE BE opened at $12.74 on Tuesday. The stock has a market cap of $1.45 billion and a PE ratio of -5.24. The company’s 50 day moving average price is $11.53. The company has a debt-to-equity ratio of 10.34, a current ratio of 2.32 and a quick ratio of 1.89. Bloom Energy has a 1-year low of $8.88 and a 1-year high of $38.00.

Bloom Energy (NYSE:BE) last announced its earnings results on Monday, May 6th. The company reported ($0.80) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.85) by $0.05. The company had revenue of $200.71 million during the quarter, compared to analysts’ expectations of $197.35 million. Equities analysts predict that Bloom Energy will post -2.02 EPS for the current fiscal year.

In related news, COO Susan Seilheimer Brennan sold 11,471 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $10.72, for a total transaction of $122,969.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Randy W. Furr sold 46,675 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $11.16, for a total value of $520,893.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 161,886 shares of company stock valued at $2,018,217. Company insiders own 36.45% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. NumerixS Investment Technologies Inc purchased a new position in Bloom Energy during the 4th quarter valued at $40,000. Barclays PLC raised its position in Bloom Energy by 4,865.0% during the 4th quarter. Barclays PLC now owns 4,965 shares of the company’s stock valued at $50,000 after purchasing an additional 4,865 shares in the last quarter. Elgethun Capital Management bought a new stake in Bloom Energy during the 1st quarter valued at $137,000. Chicago Capital LLC bought a new stake in Bloom Energy during the 1st quarter valued at $150,000. Finally, Smithfield Trust Co. bought a new stake in Bloom Energy during the 1st quarter valued at $163,000. Institutional investors own 32.67% of the company’s stock.

About Bloom Energy

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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