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

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

Several research analysts recently commented on BE shares. Bank of America lowered shares of Bloom Energy from a “neutral” rating to an “underperform” rating and cut their price target for the company from $16.00 to $10.00 in a report on Monday, January 29th. Raymond James cut their price target on shares of Bloom Energy from $20.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. BTIG Research started coverage on shares of Bloom Energy in a report on Thursday, January 25th. They issued a “buy” rating and a $21.00 price target on the stock. Truist Financial upgraded shares of Bloom Energy from a “sell” rating to a “hold” rating and raised their price target for the company from $9.00 to $11.00 in a report on Wednesday, March 6th. Finally, KeyCorp downgraded shares of Bloom Energy from an “overweight” rating to a “sector weight” rating in a research report on Friday, February 16th.

Insider Activity at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 8,963 shares of Bloom Energy stock in a transaction that occurred 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 completion of the transaction, the insider now owns 168,003 shares in the company, valued at approximately $1,656,509.58. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Shawn Marie Soderberg sold 8,963 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $9.86, for a total value of $88,375.18. Following the transaction, the insider now directly owns 168,003 shares in the company, valued at approximately $1,656,509.58. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kr Sridhar sold 50,746 shares of the business’s stock in a transaction dated 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. Insiders sold a total of 74,989 shares of company stock valued at $725,292 over the last three months. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BE. Millburn Ridgefield Corp acquired a new stake in shares of Bloom Energy in the third quarter valued at approximately $33,000. Quest Partners LLC bought a new position in Bloom Energy in the 4th quarter worth approximately $51,000. Allspring Global Investments Holdings LLC increased its position 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 acquiring an additional 1,117 shares during the period. AM Investment Strategies LLC acquired a new position in Bloom Energy during the 3rd quarter worth $133,000. Finally, Fairman Group LLC acquired a new position in Bloom Energy during the 4th quarter worth $146,000. 77.04% of the stock is currently owned by institutional investors.

Bloom Energy Trading Up 1.6 %

Shares of BE stock opened at $11.31 on Thursday. The firm has a market cap of $2.54 billion, a P/E ratio of -7.80 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. The firm’s 50-day simple moving average is $10.20 and its 200-day simple moving average is $11.67.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.05 EPS for the quarter, beating 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 firm had revenue of $356.92 million for the quarter, compared to analyst estimates of $481.90 million. As a group, equities analysts forecast that Bloom Energy will post -0.16 EPS 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.