Bloom Energy Co. (NYSE:BE) Given Consensus Rating of “Buy” by Analysts

Bloom Energy Co. (NYSE:BEGet Rating) has earned a consensus rating of “Buy” from the eleven research firms that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $25.55.

A number of equities analysts have recently issued reports on the company. KeyCorp reissued an “overweight” rating and issued a $30.00 target price on shares of Bloom Energy in a report on Thursday, June 2nd. Piper Sandler initiated coverage on Bloom Energy in a research report on Wednesday, June 8th. They issued a “hold” rating and a $20.00 price objective on the stock. Susquehanna reduced their target price on Bloom Energy from $33.00 to $28.00 in a report on Tuesday, May 10th. Truist Financial lifted their target price on Bloom Energy to $19.00 in a report on Friday, May 27th. Finally, Susquehanna Bancshares dropped their price target on Bloom Energy from $33.00 to $28.00 in a research note on Tuesday, May 10th.

BE stock opened at $16.99 on Monday. Bloom Energy has a 52-week low of $11.47 and a 52-week high of $37.01. The company has a quick ratio of 1.56, a current ratio of 2.09 and a debt-to-equity ratio of 2,524.52. The company has a market capitalization of $3.03 billion, a PE ratio of -13.70 and a beta of 3.39. The stock’s 50 day moving average is $17.84 and its two-hundred day moving average is $19.64.

Bloom Energy (NYSE:BEGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.27). The business had revenue of $201.04 million for the quarter, compared to analyst estimates of $220.75 million. Bloom Energy had a negative return on equity of 738.94% and a negative net margin of 22.25%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.17) EPS. As a group, sell-side analysts anticipate that Bloom Energy will post -0.96 EPS for the current year.

In other news, EVP Shawn Marie Soderberg sold 7,519 shares of Bloom Energy stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $22.24, for a total transaction of $167,222.56. Following the completion of the transaction, the executive vice president now directly owns 357,084 shares of the company’s stock, valued at approximately $7,941,548.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Glen Griffiths sold 3,057 shares of the business’s stock in a transaction on Wednesday, March 23rd. The stock was sold at an average price of $25.00, for a total transaction of $76,425.00. The disclosure for this sale can be found here. Insiders have sold 27,650 shares of company stock valued at $525,573 over the last three months. 2.78% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC purchased a new stake in shares of Bloom Energy during the 1st quarter worth about $11,026,000. First Trust Advisors LP acquired a new stake in Bloom Energy in the first quarter worth $262,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Bloom Energy in the first quarter worth $10,129,000. Dimensional Fund Advisors LP grew its stake in shares of Bloom Energy by 36.6% in the third quarter. Dimensional Fund Advisors LP now owns 23,904 shares of the company’s stock worth $447,000 after purchasing an additional 6,409 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new position in Bloom Energy during the third quarter valued at about $82,000. Institutional investors own 65.68% of the company’s stock.

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.

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Analyst Recommendations for Bloom Energy (NYSE:BE)

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