Bloom Energy Co. (NYSE:BE) Receives $15.74 Consensus Price Target from Brokerages

Bloom Energy Co. (NYSE:BE) has earned a consensus recommendation of “Hold” from the eighteen ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $15.64.

Several research firms have issued reports on BE. BTIG Research began coverage on Bloom Energy in a research note on Thursday, January 25th. They set a “buy” rating and a $21.00 price objective for the company. Susquehanna dropped their price objective on Bloom Energy from $18.00 to $16.00 and set a “positive” rating for the company in a research note on Wednesday, March 27th. Piper Sandler dropped their price objective on Bloom Energy from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. Royal Bank of Canada restated an “outperform” rating and issued a $14.00 target price on shares of Bloom Energy in a research note on Tuesday. Finally, Truist Financial upgraded Bloom Energy from a “sell” rating to a “hold” rating and raised their target price for the company from $9.00 to $11.00 in a research note on Wednesday, March 6th.

Bloom Energy Stock Up 12.2 %

BE opened at $16.97 on Monday. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $18.76. The company has a current ratio of 4.45, a quick ratio of 2.97 and a debt-to-equity ratio of 2.56. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of -12.57 and a beta of 2.77. The business has a 50 day moving average of $11.14 and a 200-day moving average of $11.82.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The business had revenue of $235.30 million during the quarter, compared to the consensus estimate of $254.06 million. Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. As a group, sell-side analysts anticipate that Bloom Energy will post -0.26 earnings per share for the current year.

Insider Activity at Bloom Energy

In related news, CEO Kr Sridhar sold 50,746 shares of Bloom Energy stock in a transaction that occurred 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 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 legal filing with the SEC, which can be accessed through this link. In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $9.74, for a total transaction of $494,266.04. Following the transaction, the chief executive officer now owns 2,702,608 shares of the company’s stock, valued at approximately $26,323,401.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eddy Zervigon sold 28,150 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $12.86, for a total value of $362,009.00. Following the transaction, the director now directly owns 111,161 shares in the company, valued at approximately $1,429,530.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 131,291 shares of company stock valued at $1,457,413. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Millburn Ridgefield Corp boosted its stake in shares of Bloom Energy by 64.0% during the 1st quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock worth $37,000 after acquiring an additional 1,286 shares during the period. BNP Paribas bought a new stake in Bloom Energy in the 1st quarter valued at $38,000. Quest Partners LLC bought a new stake in Bloom Energy in the 4th quarter valued at $51,000. Allspring Global Investments Holdings LLC boosted its stake in Bloom Energy by 17.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock valued at $102,000 after purchasing an additional 1,117 shares during the period. Finally, Fairman Group LLC bought a new stake in Bloom Energy in the 4th quarter valued at $146,000. 77.04% of the stock is currently owned by 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.