Bloom Energy Co. (NYSE:BE) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Bloom Energy Co. (NYSE:BEGet Rating) have received a consensus rating of “Hold” from the twelve analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $26.09.

Several brokerages have recently weighed in on BE. Susquehanna reduced their target price on shares of Bloom Energy from $33.00 to $28.00 in a research note on Tuesday, May 10th. Bank of America raised Bloom Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $28.00 to $29.00 in a report on Monday, February 14th. Morgan Stanley reduced their target price on Bloom Energy from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 5th. Zacks Investment Research downgraded shares of Bloom Energy from a “hold” rating to a “sell” rating in a report on Wednesday, April 13th. Finally, Truist Financial initiated coverage on Bloom Energy in a research report on Monday, May 2nd. They set a “hold” rating and a $20.00 price target for the company.

Shares of NYSE:BE opened at $15.61 on Thursday. The company has a debt-to-equity ratio of 2,524.52, a quick ratio of 1.56 and a current ratio of 2.09. The firm has a fifty day moving average price of $20.13 and a 200 day moving average price of $21.23. Bloom Energy has a fifty-two week low of $11.47 and a fifty-two week high of $37.01. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -12.59 and a beta of 3.38.

Bloom Energy (NYSE:BEGet Rating) last issued its earnings results on Thursday, May 5th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.12). Bloom Energy had a negative return on equity of 738.94% and a negative net margin of 22.25%. The company had revenue of $201.04 million for the quarter, compared to the consensus estimate of $220.75 million. During the same quarter in the prior year, the company posted ($0.17) EPS. Bloom Energy’s revenue was up 3.6% compared to the same quarter last year. As a group, research analysts predict that Bloom Energy will post -0.93 earnings per share for the current year.

In other Bloom Energy news, EVP Swaminathan Venkataraman sold 2,338 shares of the stock in a transaction on Friday, March 18th. The stock was sold at an average price of $23.94, for a total value of $55,971.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gregory D. Cameron sold 61,194 shares of the firm’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $21.39, for a total value of $1,308,939.66. The disclosure for this sale can be found here. Insiders sold 90,437 shares of company stock valued at $1,939,871 over the last three months. Corporate insiders own 2.78% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of BE. Norges Bank purchased a new position in Bloom Energy during the fourth quarter worth approximately $74,217,000. BlackRock Inc. increased its stake in Bloom Energy by 11.7% during the fourth quarter. BlackRock Inc. now owns 15,640,711 shares of the company’s stock worth $343,002,000 after acquiring an additional 1,644,528 shares during the last quarter. Marshall Wace LLP grew its stake in Bloom Energy by 890.3% during the fourth quarter. Marshall Wace LLP now owns 1,122,137 shares of the company’s stock worth $24,609,000 after buying an additional 1,008,820 shares during the period. California State Teachers Retirement System raised its stake in shares of Bloom Energy by 476.6% in the 4th quarter. California State Teachers Retirement System now owns 1,116,075 shares of the company’s stock valued at $24,476,000 after acquiring an additional 922,520 shares during the period. Finally, FMR LLC acquired a new position in shares of Bloom Energy during the 1st quarter valued at $11,026,000. 65.68% of the stock is currently owned by institutional investors and hedge funds.

About Bloom Energy (Get Rating)

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 power generation platform that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion.

Further Reading

Analyst Recommendations for Bloom Energy (NYSE:BE)

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