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

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

BE has been the topic of a number of research analyst reports. 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 report on Friday, February 16th. Piper Sandler decreased their price objective on Bloom Energy from $14.00 to $11.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. JPMorgan Chase & Co. lowered Bloom Energy from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $19.00 to $14.00 in a report on Friday, February 16th. Susquehanna decreased their price objective on Bloom Energy from $18.00 to $16.00 and set a “positive” rating on the stock in a report on Wednesday, March 27th. Finally, Evercore ISI started coverage on Bloom Energy in a report on Monday, April 1st. They set an “outperform” rating and a $21.00 price objective on the stock.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 8,963 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was 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 in the company, valued at $1,656,509.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Kr Sridhar sold 50,746 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 2,702,608 shares in the company, valued at $26,323,401.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 8,963 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total value of $88,375.18. Following the sale, the insider now owns 168,003 shares of the company’s stock, valued at approximately $1,656,509.58. The disclosure for this sale can be found here. Insiders sold a total of 74,989 shares of company stock worth $725,292 over the last 90 days. 3.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Bloom Energy

Hedge funds have recently added to or reduced their stakes in the stock. DAVENPORT & Co LLC acquired a new stake in shares of Bloom Energy in the 3rd quarter valued at approximately $304,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Bloom Energy by 7.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 34,725 shares of the company’s stock valued at $460,000 after buying an additional 2,270 shares during the period. Pinnacle Associates Ltd. increased its position 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 buying an additional 229,639 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Bloom Energy by 3.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 714,440 shares of the company’s stock valued at $9,473,000 after buying an additional 27,096 shares in the last quarter. Finally, AM Investment Strategies LLC bought a new stake in shares of Bloom Energy in the 3rd quarter valued at $133,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Stock Performance

BE opened at $11.31 on Thursday. The firm has a market capitalization of $2.54 billion, a P/E ratio of -7.80 and a beta of 2.79. The stock’s 50 day moving average price is $10.20 and its two-hundred day moving average price is $11.67. The company has a quick ratio of 2.53, a current ratio of 3.60 and a debt-to-equity ratio of 2.41. Bloom Energy has a 12-month low of $8.41 and a 12-month high of $18.76.

Bloom Energy (NYSE:BE) last released its earnings results on Thursday, February 15th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. The firm had revenue of $356.92 million for the quarter, compared to analyst estimates of $481.90 million. Bloom Energy had a negative return on equity of 23.88% and a negative net margin of 22.66%. On average, equities analysts forecast 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.