Bloom Energy (NYSE:BE) Lowered to “Sector Weight” at KeyCorp

KeyCorp lowered shares of Bloom Energy (NYSE:BE) from an overweight rating to a sector weight rating in a research report released on Thursday morning, Briefing.com Automated Import reports.

A number of other equities research analysts have also recently issued reports on BE. ValuEngine cut shares of Bloom Energy from a strong-buy rating to a buy rating in a research report on Wednesday, January 29th. Zacks Investment Research cut shares of Bloom Energy from a buy rating to a hold rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Bloom Energy presently has an average rating of Hold and an average price target of $7.67.

BE stock traded up $1.05 during midday trading on Thursday, reaching $10.70. 4,524,459 shares of the company were exchanged, compared to its average volume of 3,016,057. The business has a 50-day moving average price of $8.72 and a two-hundred day moving average price of $6.07. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -4.25 and a beta of 4.11. Bloom Energy has a one year low of $2.44 and a one year high of $16.63.

In other Bloom Energy news, CFO Randy W. Furr sold 100,044 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $5.28, for a total value of $528,232.32. Also, EVP Hari Pillai sold 37,500 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $6.81, for a total value of $255,375.00. Following the completion of the sale, the executive vice president now directly owns 37,500 shares in the company, valued at approximately $255,375. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 742,996 shares of company stock valued at $4,990,640. Insiders own 36.45% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its holdings in Bloom Energy by 642.1% in the fourth quarter. Renaissance Technologies LLC now owns 3,723,353 shares of the company’s stock worth $27,813,000 after acquiring an additional 3,221,588 shares in the last quarter. Millennium Management LLC grew its holdings in Bloom Energy by 363.9% during the third quarter. Millennium Management LLC now owns 2,319,524 shares of the company’s stock valued at $7,538,000 after purchasing an additional 1,819,524 shares during the period. Handelsbanken Fonder AB grew its holdings in Bloom Energy by 121.5% during the third quarter. Handelsbanken Fonder AB now owns 1,317,631 shares of the company’s stock valued at $4,282,000 after purchasing an additional 722,654 shares during the period. State Street Corp boosted its stake in shares of Bloom Energy by 7.2% in the fourth quarter. State Street Corp now owns 1,112,470 shares of the company’s stock worth $8,310,000 after acquiring an additional 74,987 shares during the period. Finally, FMR LLC bought a new position in shares of Bloom Energy in the first quarter worth about $11,026,000. 39.67% of the stock is currently owned by institutional investors and hedge funds.

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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