Bloom Energy (NYSE:BE) Downgraded by Jefferies Financial Group to Hold

Jefferies Financial Group downgraded shares of Bloom Energy (NYSE:BE) from a buy rating to a hold rating in a research note released on Friday, MarketBeat Ratings reports. Jefferies Financial Group currently has $11.00 price target on the stock, down from their prior price target of $15.00.

BE has been the subject of several other research reports. Evercore ISI cut their target price on Bloom Energy from $21.00 to $20.00 and set an outperform rating for the company in a research note on Friday, May 10th. JPMorgan Chase & Co. lifted their target price on shares of Bloom Energy from $12.00 to $14.00 and gave the stock a neutral rating in a research note on Tuesday, July 16th. Bank of America raised their price target on shares of Bloom Energy from $8.00 to $9.00 and gave the stock an underperform rating in a report on Wednesday, July 17th. TD Cowen raised their price target on Bloom Energy from $10.00 to $13.00 and gave the stock a hold rating in a research note on Friday, May 10th. Finally, Truist Financial lifted their price objective on Bloom Energy from $12.00 to $13.00 and gave the company a hold rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $15.88.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $9.96 on Friday. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $18.14. The firm has a market capitalization of $2.26 billion, a P/E ratio of -7.38 and a beta of 2.69. The business’s fifty day simple moving average is $12.40 and its 200 day simple moving average is $12.02. The company has a current ratio of 4.65, a quick ratio of 3.33 and a debt-to-equity ratio of 3.43.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The company had revenue of $335.80 million for the quarter, compared to analyst estimates of $307.73 million. During the same period in the previous year, the company posted ($0.32) EPS. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, analysts anticipate that Bloom Energy will post -0.25 EPS for the current year.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 2,094 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $14.53, for a total value of $30,425.82. Following the completion of the transaction, the insider now directly owns 168,867 shares in the company, valued at $2,453,637.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. purchased a new stake in Bloom Energy in the second quarter valued at approximately $215,000. Creative Planning boosted its holdings in shares of Bloom Energy by 31.5% in the 2nd quarter. Creative Planning now owns 34,394 shares of the company’s stock valued at $421,000 after acquiring an additional 8,244 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Bloom Energy in the second quarter worth $251,000. Sender Co & Partners Inc. purchased a new position in shares of Bloom Energy during the second quarter worth $156,000. Finally, The Manufacturers Life Insurance Company lifted its position in Bloom Energy by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 114,705 shares of the company’s stock valued at $1,404,000 after purchasing an additional 7,205 shares during the period. Institutional investors and hedge funds 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.