Bloom Energy stock downgraded at KeyBanc on concerns restatements will create overhang [MarketWatch]
Bloom Energy Corporation Class A (BE)
Last bloom energy corporation class a earnings: 11/7 04:26 pm
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Source: MarketWatch
Bloom Energy stock downgraded at KeyBanc on concerns restatements will create overhang Bloom Energy Corp. stock BE, -8.71% was downgraded to sector weight from overweight on Thursday, with analysts wary of the volatility expected to follow news of a major restatement of financials late Wednesday. The fuel-cell company said it expects to restate results dating back to 2016 because of an accounting error relating to revenue recognition. The news sent the stock down more than 20% in after-hours trading, and down about 10% Thursday. the stock has gained about 230% since KeyBanc started covering it in October. " As shares edge toward our near-term bull case ($14), we expect more NT volatility, driven by restatements," analysts led by Sophie Karp wrote in a note to clients. "Our discussions with BE indicate the issue is limited in scope and related solely to recognition of MSA revenue. That said, the market will nonetheless react negatively in the NT due to this overhang." The stock has
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BE
Earnings
- 2/15/24 - Beat
BE
Sec Filings
- 4/17/24 - Form 4
- 4/17/24 - Form 8-K
- 4/16/24 - Form 144
- BE's page on the SEC website