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

Bloom Energy Co. (NYSE:BE) has earned a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $16.69.

A number of research firms recently weighed in on BE. Piper Sandler lowered their target price on shares of Bloom Energy from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Truist Financial upgraded shares of Bloom Energy from a “sell” rating to a “hold” rating and lifted their target price for the company from $9.00 to $11.00 in a research note on Wednesday, March 6th. 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 on the stock. BMO Capital Markets lowered their target price on shares of Bloom Energy from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Friday, February 16th. Finally, Evercore ISI started coverage on shares of Bloom Energy in a research note on Monday, April 1st. They set an “outperform” rating and a $21.00 target price on the stock.

Insider Transactions at Bloom Energy

In other news, CEO Kr Sridhar sold 50,746 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now 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 available through the SEC website. In related news, insider Shawn Marie Soderberg sold 8,963 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $9.86, for a total transaction of $88,375.18. Following the completion of the sale, the insider now owns 168,003 shares of the company’s stock, valued at $1,656,509.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last quarter, insiders sold 74,989 shares of company stock valued at $725,292. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Deutsche Bank AG lifted 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 acquiring an additional 57,090 shares during the last quarter. FMR LLC increased its stake in Bloom Energy by 168.8% during the 3rd quarter. FMR LLC now owns 3,524,361 shares of the company’s stock valued at $46,733,000 after purchasing an additional 2,213,167 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in Bloom Energy during the 3rd quarter valued at approximately $1,567,000. Vanguard Group Inc. increased its stake in Bloom Energy by 9.3% during the 3rd quarter. Vanguard Group Inc. now owns 19,221,174 shares of the company’s stock valued at $254,873,000 after purchasing an additional 1,635,738 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased its stake in Bloom Energy by 65.2% during 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 in the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Trading Down 1.9 %

Shares of Bloom Energy stock opened at $9.64 on Thursday. The company’s fifty day simple moving average is $10.12 and its 200-day simple moving average is $11.69. The stock has a market capitalization of $2.17 billion, a PE ratio of -6.65 and a beta of 2.79. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $18.76. The company has a debt-to-equity ratio of 2.41, a current ratio of 3.60 and a quick ratio of 2.53.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.05 earnings per share 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 business had revenue of $356.92 million for the quarter, compared to analysts’ expectations of $481.90 million. As a group, equities analysts anticipate that Bloom Energy will post -0.16 earnings per share for the current year.

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.