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

Bloom Energy Co. (NYSE:BE) has earned an average recommendation of “Moderate Buy” from the twenty brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $16.08.

A number of brokerages recently weighed in on BE. JPMorgan Chase & Co. raised their price target on shares of Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Bank of America raised their price target on Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. Jefferies Financial Group dropped their price objective on Bloom Energy from $16.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 9th. Evercore ISI reduced their target price on shares of Bloom Energy from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Finally, Piper Sandler boosted their price target on shares of Bloom Energy from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd.

Insider Activity

In related news, insider Shawn Marie Soderberg sold 2,094 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total transaction of $30,425.82. Following the completion of the sale, the insider now directly owns 168,867 shares of the company’s stock, valued at approximately $2,453,637.51. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 8.81% of the stock is currently owned by company insiders.

Institutional Trading of Bloom Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. bought a new position in shares of Bloom Energy during the 2nd quarter worth approximately $215,000. Creative Planning grew its position in Bloom Energy by 31.5% in the second quarter. Creative Planning now owns 34,394 shares of the company’s stock valued at $421,000 after purchasing an additional 8,244 shares in the last quarter. Algert Global LLC acquired a new stake in Bloom Energy in the 2nd quarter valued at $251,000. Sender Co & Partners Inc. acquired a new stake in Bloom Energy in the 2nd quarter valued at $156,000. Finally, The Manufacturers Life Insurance Company lifted its position in Bloom Energy by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 114,705 shares of the company’s stock worth $1,404,000 after buying an additional 7,205 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Price Performance

Bloom Energy stock opened at $11.03 on Wednesday. The business’s fifty day moving average is $12.47 and its two-hundred day moving average is $12.03. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. The firm has a market cap of $2.51 billion, a P/E ratio of -8.17 and a beta of 2.80. Bloom Energy has a 52 week low of $8.41 and a 52 week high of $18.14.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The business had revenue of $335.80 million for the quarter, compared to the consensus estimate of $307.73 million. Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.32) EPS. Equities research analysts forecast that Bloom Energy will post -0.25 earnings per share for the current fiscal year.

Bloom Energy Company Profile

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.