Bloom Energy (NYSE:BE) was downgraded by equities research analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a report issued on Thursday, Marketbeat Ratings reports.
A number of other research firms have also weighed in on BE. Zacks Investment Research lowered shares of Bloom Energy from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. ValuEngine lowered shares of Bloom Energy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $7.67.
Shares of NYSE BE opened at $10.70 on Thursday. The firm’s 50-day moving average price is $8.80 and its 200-day moving average price is $6.07. Bloom Energy has a 1-year low of $2.44 and a 1-year high of $16.63. The firm has a market capitalization of $1.26 billion, a P/E ratio of -4.25 and a beta of 4.11.
A number of hedge funds have recently modified their holdings of BE. Renaissance Technologies LLC grew its position in Bloom Energy by 642.1% in the 4th quarter. Renaissance Technologies LLC now owns 3,723,353 shares of the company’s stock worth $27,813,000 after purchasing an additional 3,221,588 shares in the last quarter. Millennium Management LLC grew its position in shares of Bloom Energy by 363.9% during the 3rd quarter. Millennium Management LLC now owns 2,319,524 shares of the company’s stock valued at $7,538,000 after acquiring an additional 1,819,524 shares during the period. FMR LLC bought a new position in shares of Bloom Energy during the 1st quarter valued at approximately $11,026,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Bloom Energy during the 1st quarter valued at approximately $10,129,000. Finally, Handelsbanken Fonder AB grew its position in shares of Bloom Energy by 121.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,317,631 shares of the company’s stock valued at $4,282,000 after acquiring an additional 722,654 shares during the period. 39.67% 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 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.
Featured Story: How prevalent are 12b-1 fees?
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.