Bloom Energy (NYSE:BE) Price Target Cut to $16.00

Bloom Energy (NYSE:BE) had its price target reduced by investment analysts at Susquehanna from $18.00 to $16.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price target indicates a potential upside of 42.35% from the company’s current price.

A number of other research analysts have also issued reports on BE. BTIG Research began coverage on shares of Bloom Energy in a research note on Thursday, January 25th. They set a “buy” rating and a $21.00 target price for the company. Royal Bank of Canada lowered their target price on Bloom Energy from $21.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Redburn Atlantic assumed coverage on Bloom Energy in a research report on Tuesday, February 6th. They set a “neutral” rating and a $12.50 price target for the company. JPMorgan Chase & Co. lowered Bloom Energy from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $14.00 in a report on Friday, February 16th. Finally, Robert W. Baird upgraded shares of Bloom Energy from a “neutral” rating to an “outperform” rating and increased their target price for the company from $16.00 to $22.00 in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and an average target price of $16.44.

Bloom Energy Stock Up 1.9 %

NYSE:BE opened at $11.24 on Wednesday. The company has a current ratio of 3.60, a quick ratio of 2.53 and a debt-to-equity ratio of 2.41. The stock has a 50 day moving average of $10.46 and a 200-day moving average of $12.07. The firm has a market capitalization of $2.53 billion, a PE ratio of -7.75 and a beta of 2.76. Bloom Energy has a 52 week low of $8.41 and a 52 week high of $20.62.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. The firm had revenue of $356.92 million during the quarter, compared to the consensus estimate of $481.90 million. Bloom Energy had a negative return on equity of 23.88% and a negative net margin of 22.66%. Analysts predict that Bloom Energy will post -0.17 EPS for the current year.

Insider Transactions at Bloom Energy

In related news, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $9.74, for a total value of $494,266.04. Following the completion of the transaction, the chief executive officer now owns 2,702,608 shares in the company, valued at approximately $26,323,401.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $494,266.04. Following the sale, 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 document filed with the SEC, which is available through the SEC website. Also, 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 owns 73,946 shares in the company, valued at approximately $690,655.64. The disclosure for this sale can be found here. Insiders sold a total of 67,782 shares of company stock valued at $658,463 in the last three months. 8.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Bloom Energy

A number of hedge funds have recently made changes to their positions in the stock. Deutsche Bank AG boosted its position in Bloom Energy by 6.2% during the third quarter. Deutsche Bank AG now owns 971,194 shares of the company’s stock valued at $12,878,000 after purchasing an additional 57,090 shares during the last quarter. FMR LLC increased its stake in shares of Bloom Energy by 168.8% during the 3rd quarter. FMR LLC now owns 3,524,361 shares of the company’s stock worth $46,733,000 after purchasing an additional 2,213,167 shares during the last quarter. Dark Forest Capital Management LP bought a new position in shares of Bloom Energy during the 3rd quarter valued at $1,567,000. Pinnacle Associates Ltd. lifted its stake in shares of Bloom Energy by 65.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 582,039 shares of the company’s stock valued at $7,718,000 after purchasing an additional 229,639 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its holdings in Bloom Energy by 41.2% in the third quarter. Natixis Advisors L.P. now owns 41,208 shares of the company’s stock worth $546,000 after purchasing an additional 12,017 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

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.