Bloom Energy Co. (NYSE:BE) Receives $22.71 Consensus Price Target from Analysts

Shares of Bloom Energy Co. (NYSE:BE) have earned a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $22.47.

A number of analysts recently weighed in on BE shares. Hsbc Global Res upgraded shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Jefferies Financial Group lowered their price target on Bloom Energy from $25.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, April 16th. Truist Financial reduced their price objective on Bloom Energy from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Monday, April 21st. Susquehanna lowered their target price on Bloom Energy from $33.00 to $26.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. upped their price target on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd.

Insider Buying and Selling at Bloom Energy

In related news, insider Satish Chitoori sold 1,020 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the sale, the insider now owns 178,656 shares of the company’s stock, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Bloom Energy by 26.8% during the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after buying an additional 569 shares during the period. CWM LLC lifted its stake in shares of Bloom Energy by 23.7% during the 1st quarter. CWM LLC now owns 3,360 shares of the company’s stock worth $66,000 after purchasing an additional 644 shares during the period. Arizona State Retirement System boosted its holdings in shares of Bloom Energy by 1.3% during the fourth quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock worth $1,324,000 after purchasing an additional 759 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after purchasing an additional 812 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after buying an additional 934 shares during the period. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Stock Performance

Shares of BE stock opened at $17.58 on Monday. Bloom Energy has a 1 year low of $9.02 and a 1 year high of $29.83. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of -31.39 and a beta of 3.25. The stock’s 50-day moving average is $19.83 and its two-hundred day moving average is $21.28.

Bloom Energy (NYSE:BE) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.10. The company had revenue of $326.02 million for the quarter, compared to analyst estimates of $294.27 million. Bloom Energy had a negative return on equity of 20.32% and a negative net margin of 10.29%. The firm’s revenue was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.17) earnings per share. Analysts predict that Bloom Energy will post -0.23 earnings per share for the current year.

Bloom Energy Company Profile

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.