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

Bloom Energy Co. (NYSE:BE) has received a consensus rating of “Hold” from the fifteen brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $16.44.

A number of equities analysts have recently weighed in on BE shares. Robert W. Baird raised Bloom Energy from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $16.00 to $22.00 in a report on Wednesday, January 10th. 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. BTIG Research assumed coverage on Bloom Energy in a research note on Thursday, January 25th. They issued a “buy” rating and a $21.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and issued a $22.00 target price on shares of Bloom Energy in a research note on Monday, March 25th. Finally, Raymond James dropped their target price on Bloom Energy from $20.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, February 16th.

Bloom Energy Stock Up 1.9 %

Bloom Energy stock opened at $11.24 on Friday. The stock’s 50 day moving average price is $10.46 and its 200 day moving average price is $12.02. The company has a debt-to-equity ratio of 2.41, a current ratio of 3.60 and a quick ratio of 2.53. The company has a market cap of $2.53 billion, a PE ratio of -7.75 and a beta of 2.76. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $20.62.

Bloom Energy (NYSE:BE) last posted its earnings results on Thursday, February 15th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. The company had revenue of $356.92 million for the quarter, compared to the consensus estimate of $481.90 million. Bloom Energy had a negative return on equity of 23.88% and a negative net margin of 22.66%. On average, sell-side analysts predict that Bloom Energy will post -0.17 EPS for the current fiscal year.

Insider Activity at Bloom Energy

In related news, EVP Shawn Marie Soderberg sold 13,120 shares of the stock in a transaction dated Friday, February 16th. The stock was 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 of the company’s stock, valued at $690,655.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $9.74, for a total transaction of $494,266.04. Following the sale, the chief executive officer now directly owns 2,702,608 shares in the company, valued at approximately $26,323,401.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $122,540.80. Following the sale, the executive vice president now owns 73,946 shares in the company, valued at $690,655.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,782 shares of company stock valued at $658,463. Insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

Large investors have recently added to or reduced their stakes in the business. Millburn Ridgefield Corp acquired a new stake in Bloom Energy in the 3rd quarter valued at approximately $33,000. Quest Partners LLC bought a new position in Bloom Energy during the 4th quarter valued at $51,000. Allspring Global Investments Holdings LLC boosted its stake in Bloom Energy by 17.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock valued at $102,000 after purchasing an additional 1,117 shares in the last quarter. Quantbot Technologies LP boosted its stake in Bloom Energy by 27.8% during the 1st quarter. Quantbot Technologies LP now owns 4,673 shares of the company’s stock valued at $112,000 after purchasing an additional 1,017 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Bloom Energy during the 1st quarter valued at $123,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.