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

Bloom Energy Co. (NYSE:BE) has earned an average recommendation of “Moderate Buy” from the sixteen analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $16.69.

A number of research firms have recently weighed in on BE. Truist Financial raised Bloom Energy from a “sell” rating to a “hold” rating and boosted their price target for the stock from $9.00 to $11.00 in a report on Wednesday, March 6th. Bank of America lowered shares of Bloom Energy from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $16.00 to $10.00 in a report on Monday, January 29th. KeyCorp downgraded shares of Bloom Energy from an “overweight” rating to a “sector weight” rating in a report on Friday, February 16th. Raymond James reduced their price objective on shares of Bloom Energy from $20.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. Finally, Royal Bank of Canada lowered their target price on shares of Bloom Energy from $21.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, February 16th.

Insider Transactions at Bloom Energy

In related news, 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 transaction, the executive vice president now owns 73,946 shares in the company, valued at $690,655.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $9.74, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Shawn Marie Soderberg sold 13,120 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 73,946 shares of the company’s stock, valued at approximately $690,655.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,989 shares of company stock worth $725,292. 8.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Millburn Ridgefield Corp purchased a new stake in shares of Bloom Energy during the third quarter valued at approximately $33,000. Quest Partners LLC acquired a new position in Bloom Energy in the 4th quarter worth $51,000. Allspring Global Investments Holdings LLC boosted 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 buying an additional 1,117 shares during the last quarter. AM Investment Strategies LLC acquired a new stake in shares of Bloom Energy during the third quarter valued at about $133,000. Finally, Fairman Group LLC purchased a new stake in shares of Bloom Energy during the fourth quarter worth about $146,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Price Performance

Shares of NYSE BE opened at $10.99 on Thursday. The company has a current ratio of 3.60, a quick ratio of 2.53 and a debt-to-equity ratio of 2.41. The company’s 50-day moving average price is $10.11 and its 200 day moving average price is $11.68. Bloom Energy has a 52 week low of $8.41 and a 52 week high of $18.76. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of -7.58 and a beta of 2.79.

Bloom Energy (NYSE:BE) last released 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 business had revenue of $356.92 million for the quarter, compared to analyst estimates of $481.90 million. As a group, research analysts forecast that Bloom Energy will post -0.16 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.