Susquehanna Trims Bloom Energy (NYSE:BE) Target Price to $16.00

Bloom Energy (NYSE:BE) had its target price cut by Susquehanna from $18.00 to $16.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a positive rating on the stock.

Several other research firms have also issued reports on BE. Redburn Atlantic started coverage on Bloom Energy in a research report on Tuesday, February 6th. They set a neutral rating and a $12.50 target price for the company. BMO Capital Markets decreased their target price on Bloom Energy from $11.00 to $10.00 and set a market perform rating for the company in a research report on Friday, February 16th. Bank of America lowered Bloom Energy from a neutral rating to an underperform rating and decreased their target price for the stock from $16.00 to $10.00 in a research report on Monday, January 29th. Robert W. Baird upgraded Bloom Energy from a neutral rating to an outperform rating and boosted their target price for the stock from $16.00 to $22.00 in a research report on Wednesday, January 10th. Finally, Truist Financial upgraded Bloom Energy from a sell rating to a hold rating and boosted their price objective for the company from $9.00 to $11.00 in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $16.44.

Bloom Energy Stock Performance

Shares of NYSE:BE opened at $11.24 on Wednesday. The stock has a market capitalization of $2.53 billion, a P/E 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. 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 business has a 50-day moving average price of $10.46 and a two-hundred day moving average price of $12.04.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.11. The firm had revenue of $356.92 million during the quarter, compared to analysts’ expectations of $481.90 million. Bloom Energy had a negative return on equity of 23.88% and a negative net margin of 22.66%. Equities analysts predict that Bloom Energy will post -0.17 earnings per share for the current year.

Insider Transactions at Bloom Energy

In related news, CEO Kr Sridhar sold 50,746 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $9.74, for a total value of $494,266.04. Following the sale, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at $26,323,401.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Kr Sridhar sold 50,746 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $9.74, for a total value of $494,266.04. Following the sale, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at $26,323,401.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Shawn Marie Soderberg sold 13,120 shares of the firm’s 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 directly owns 73,946 shares in the company, valued at $690,655.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,782 shares of company stock valued at $658,463. 8.81% of the stock is owned by corporate insiders.

Institutional Trading of Bloom Energy

A number of hedge funds have recently made changes to their positions in the company. Fairman Group LLC bought a new position in shares of Bloom Energy during the fourth quarter worth about $146,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Bloom Energy by 33.1% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 477,248 shares of the company’s stock worth $7,063,000 after acquiring an additional 118,595 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Bloom Energy by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 19,528,801 shares of the company’s stock worth $289,026,000 after acquiring an additional 307,627 shares during the last quarter. Electron Capital Partners LLC bought a new position in shares of Bloom Energy during the fourth quarter worth about $27,796,000. Finally, FIL Ltd raised its position in shares of Bloom Energy by 47.7% during the fourth quarter. FIL Ltd now owns 137,898 shares of the company’s stock worth $2,041,000 after acquiring an additional 44,550 shares during the last quarter. 77.04% of the stock is 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.