Bloom Energy (NYSE:BE) Given “Buy” Rating at Morgan Stanley

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Morgan Stanley reissued their buy rating on shares of Bloom Energy (NYSE:BE) in a research note issued to investors on Wednesday, TipRanks reports.

BE has been the subject of a number of other reports. JPMorgan Chase & Co. reiterated an overweight rating and issued a $12.00 price target (down from $18.00) on shares of Bloom Energy in a report on Thursday. ValuEngine upgraded Bloom Energy from a buy rating to a strong-buy rating in a report on Thursday, August 1st. Raymond James lowered their price target on Bloom Energy from $16.00 to $12.00 and set an outperform rating for the company in a report on Tuesday, August 13th. Zacks Investment Research downgraded Bloom Energy from a hold rating to a sell rating in a report on Thursday, September 5th. Finally, Robert W. Baird lowered their price target on Bloom Energy from $16.00 to $9.00 and set a neutral rating for the company in a report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $12.13.

Shares of BE traded down $0.23 during trading on Wednesday, reaching $3.32. The company’s stock had a trading volume of 2,762,274 shares, compared to its average volume of 1,593,776. The company has a fifty day moving average of $5.87 and a two-hundred day moving average of $10.72. Bloom Energy has a twelve month low of $3.08 and a twelve month high of $38.00. The company has a market cap of $385.08 million, a price-to-earnings ratio of -1.37 and a beta of 3.31. The company has a quick ratio of 1.44, a current ratio of 1.75 and a debt-to-equity ratio of 10.34.

Bloom Energy (NYSE:BE) last announced its earnings results on Monday, August 12th. The company reported ($0.59) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.59). Bloom Energy had a negative return on equity of 539.17% and a negative net margin of 38.77%. The company had revenue of $233.80 million for the quarter, compared to analyst estimates of $207.56 million. Bloom Energy’s revenue was up 38.4% on a year-over-year basis. As a group, equities analysts forecast that Bloom Energy will post -2.07 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Inc. increased its holdings in shares of Bloom Energy by 52.8% in the 2nd quarter. Advisor Group Inc. now owns 30,317 shares of the company’s stock valued at $372,000 after acquiring an additional 10,470 shares during the last quarter. Allianz Asset Management GmbH grew its stake in Bloom Energy by 18.8% during the 2nd quarter. Allianz Asset Management GmbH now owns 3,183,766 shares of the company’s stock worth $39,065,000 after buying an additional 504,302 shares during the last quarter. Strs Ohio bought a new position in Bloom Energy during the 2nd quarter worth $180,000. JPMorgan Chase & Co. grew its stake in Bloom Energy by 127.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 837,885 shares of the company’s stock worth $9,753,000 after buying an additional 470,291 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in Bloom Energy by 186.1% during the 2nd quarter. First Trust Advisors LP now owns 58,132 shares of the company’s stock worth $713,000 after buying an additional 37,815 shares during the last quarter. Institutional investors and hedge funds own 39.67% 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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Analyst Recommendations for Bloom Energy (NYSE:BE)

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