Analysts Set Bloom Energy Co. (NYSE:BE) Price Target at $22.71

Shares of Bloom Energy Co. (NYSE:BE) have earned a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $22.47.

A number of research firms have weighed in on BE. Robert W. Baird decreased their target price on shares of Bloom Energy from $32.00 to $27.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Piper Sandler dropped their target price on shares of Bloom Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Roth Mkm decreased their price target on Bloom Energy from $26.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Truist Financial cut their target price on Bloom Energy from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, April 21st. Finally, Redburn Atlantic downgraded shares of Bloom Energy from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $14.50 to $10.00 in a research report on Wednesday, April 9th.

Bloom Energy Stock Up 2.0%

Shares of BE opened at $17.58 on Monday. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. Bloom Energy has a 52 week low of $9.02 and a 52 week high of $29.83. The stock has a fifty day moving average of $19.83 and a 200-day moving average of $21.45. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of -31.39 and a beta of 3.25.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.10. Bloom Energy had a negative return on equity of 20.32% and a negative net margin of 10.29%. The business had revenue of $326.02 million during the quarter, compared to the consensus estimate of $294.27 million. During the same period in the prior year, the business posted ($0.17) earnings per share. Bloom Energy’s quarterly revenue was up 38.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Bloom Energy will post -0.23 earnings per share for the current fiscal year.

Insider Activity

In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now directly owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. This represents a 0.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mainstream Capital Management LLC purchased a new stake in shares of Bloom Energy during the 4th quarter valued at approximately $28,000. Smartleaf Asset Management LLC boosted its stake in Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after purchasing an additional 934 shares during the period. Harbour Investments Inc. grew its holdings in Bloom Energy by 2,160.0% during the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company’s stock valued at $31,000 after buying an additional 1,512 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after acquiring an additional 812 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Bloom Energy during the third quarter valued at approximately $34,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

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.