Green Equity - September 6, 2024
News about stocks involved in environmental markets.
Green Equity is a daily series dedicated to tracking emerging investment opportunities in environmental markets. Notable events include green investments, fundraising, M&A, and new public listings.
News From Public Companies
CVW CleanTech (CVW) has closed its private placement, raising approximately $16.75 million by issuing 18,610,623 common shares at $0.90 per share. The funds will be used to complete the company's royalty investment with Northstar Clean Technologies (ROOF) and for general corporate purposes.
Price Targets & Reports
Bloom Energy's (BE) stock dropped 10% after Jefferies downgraded it from "Buy" to "Hold," citing concerns about backlog uncertainties, the upcoming expiration of the ITC, and a lack of transparency in dealings with SK Group. Jefferies also lowered its price target to $11.00 and reduced revenue estimates for 2025 and 2026, reflecting a more cautious outlook.
TD Cowen maintained a “Hold” rating on FuelCell Energy (FCEL) with a price target of $2.00, noting no significant changes between the second and third quarters of 2024 and highlighting the company's focus on advancing its solid oxide technology.