Bloom Energy Co. (NYSE:BE) Receives $16.69 Consensus Price Target from Analysts

Shares of Bloom Energy Co. (NYSE:BE) have been given an average recommendation of “Moderate Buy” by the sixteen analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $16.69.

A number of brokerages have weighed in on BE. Evercore ISI began coverage on shares of Bloom Energy in a research report on Monday, April 1st. They set an “outperform” rating and a $21.00 price target for the company. Redburn Atlantic assumed coverage on shares of Bloom Energy in a research note on Tuesday, February 6th. They issued a “neutral” rating and a $12.50 price objective for the company. Susquehanna lowered their price objective on shares of Bloom Energy from $18.00 to $16.00 and set a “positive” rating for the company in a research note on Wednesday, March 27th. BMO Capital Markets lowered their price objective on shares of Bloom Energy from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Friday, February 16th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $22.00 price objective on shares of Bloom Energy in a research note on Monday, March 25th.

Bloom Energy Price Performance

Bloom Energy stock opened at $10.60 on Thursday. Bloom Energy has a 12-month low of $8.41 and a 12-month high of $18.76. The stock has a market cap of $2.38 billion, a P/E ratio of -7.31 and a beta of 2.79. The company has a 50-day moving average price of $10.08 and a 200 day moving average price of $11.68. The company has a current ratio of 3.60, a quick ratio of 2.53 and a debt-to-equity ratio of 2.41.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.11. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. The firm had revenue of $356.92 million during the quarter, compared to analysts’ expectations of $481.90 million. Sell-side analysts anticipate that Bloom Energy will post -0.16 earnings per share for the current year.

Insider Activity

In other news, EVP Shawn Marie Soderberg sold 13,120 shares of Bloom Energy stock in a transaction on Friday, February 16th. The shares were sold at an average price of $9.34, for a total value of $122,540.80. Following the transaction, the executive vice president now directly owns 73,946 shares of the company’s stock, valued at approximately $690,655.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $9.74, for a total value of $494,266.04. Following the transaction, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at approximately $26,323,401.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Shawn Marie Soderberg sold 13,120 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $9.34, for a total transaction of $122,540.80. Following the completion of the transaction, the executive vice president now directly owns 73,946 shares in the company, valued at $690,655.64. The disclosure for this sale can be found here. Insiders have sold 74,989 shares of company stock valued at $725,292 in the last ninety days. 8.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

Institutional investors have recently bought and sold shares of the company. Millburn Ridgefield Corp purchased a new stake in shares of Bloom Energy during the 3rd quarter worth $33,000. Quest Partners LLC purchased a new stake in shares of Bloom Energy during the 4th quarter worth $51,000. Allspring Global Investments Holdings LLC boosted its position in shares of Bloom Energy by 17.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock worth $102,000 after purchasing an additional 1,117 shares in the last quarter. AM Investment Strategies LLC purchased a new stake in shares of Bloom Energy during the 3rd quarter worth $133,000. Finally, Fairman Group LLC purchased a new stake in shares of Bloom Energy during the 4th quarter worth $146,000. 77.04% of the stock is owned by institutional investors and hedge funds.

About Bloom Energy

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.