Bloom Energy (NYSE:BE) PT Lowered to $20.00

Bloom Energy (NYSE:BE) had its target price cut by analysts at Evercore ISI from $21.00 to $20.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price objective suggests a potential upside of 70.50% from the company’s current price.

A number of other research analysts have also weighed in on the company. Piper Sandler cut 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 cut their price objective for the company from $19.00 to $14.00 in a report on Friday, February 16th. Susquehanna cut 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. Truist Financial raised Bloom Energy from a “sell” rating to a “hold” rating and increased their price objective for the company from $9.00 to $11.00 in a report on Wednesday, March 6th. Finally, Raymond James cut their price objective on Bloom Energy from $20.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Bloom Energy currently has an average rating of “Hold” and an average target price of $16.45.

Bloom Energy Trading Down 0.6 %

Bloom Energy stock opened at $11.73 on Friday. The stock has a 50-day moving average of $10.55 and a two-hundred day moving average of $11.66. The company has a debt-to-equity ratio of 2.41, a quick ratio of 2.53 and a current ratio of 3.60. Bloom Energy has a one year low of $8.41 and a one year high of $18.76. The stock has a market cap of $2.64 billion, a PE ratio of -8.09 and a beta of 2.77.

Bloom Energy (NYSE:BE) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The business had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $254.06 million. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. On average, research analysts anticipate that Bloom Energy will post -0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bloom Energy news, EVP Shawn Marie Soderberg sold 13,120 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $9.34, for a total transaction of $122,540.80. Following the transaction, the executive vice president now owns 73,946 shares in the company, valued at $690,655.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Kr Sridhar sold 50,746 shares of the firm’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 value of $494,266.04. Following the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Also, EVP Shawn Marie Soderberg sold 13,120 shares of the firm’s stock in a transaction that occurred 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 completion of 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. Over the last 90 days, insiders have sold 74,989 shares of company stock worth $725,292. 8.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently made changes to their positions in BE. Norges Bank purchased a new position in Bloom Energy during the fourth quarter worth approximately $82,678,000. FMR LLC lifted its position in Bloom Energy by 168.8% during the third quarter. FMR LLC now owns 3,524,361 shares of the company’s stock worth $46,733,000 after buying an additional 2,213,167 shares in the last quarter. Electron Capital Partners LLC purchased a new position in Bloom Energy during the fourth quarter worth approximately $27,796,000. Vanguard Group Inc. lifted its position in Bloom Energy by 9.3% during the third quarter. Vanguard Group Inc. now owns 19,221,174 shares of the company’s stock worth $254,873,000 after buying an additional 1,635,738 shares in the last quarter. Finally, Coatue Management LLC lifted its position in Bloom Energy by 28.3% during the fourth quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock worth $65,666,000 after buying an additional 978,053 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

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.