Analysts Set Bloom Energy Co. (NYSE:BE) PT at $15.88

Bloom Energy Co. (NYSE:BE) has been given an average recommendation of “Hold” by the twenty brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $15.88.

A number of equities analysts have recently commented on BE shares. UBS Group dropped their target price on Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Piper Sandler boosted their price objective on shares of Bloom Energy from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Bank of America raised their target price on shares of Bloom Energy from $8.00 to $9.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. upped 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $15.00 price objective on shares of Bloom Energy in a research note on Thursday, June 20th.

Bloom Energy Trading Up 2.1 %

Shares of BE opened at $10.40 on Friday. The stock has a market capitalization of $2.37 billion, a PE ratio of -7.70 and a beta of 2.69. The company’s fifty day moving average is $11.59 and its 200 day moving average is $12.13. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $18.14.

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

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 2,094 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $14.53, for a total value of $30,425.82. Following the sale, the insider now directly owns 168,867 shares in the company, valued at approximately $2,453,637.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BE. B. Riley Wealth Advisors Inc. purchased a new position in shares of Bloom Energy in the 2nd quarter valued at approximately $215,000. Creative Planning raised its holdings in shares of Bloom Energy by 31.5% in the second quarter. Creative Planning now owns 34,394 shares of the company’s stock worth $421,000 after buying an additional 8,244 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Bloom Energy during the second quarter worth $251,000. Sender Co & Partners Inc. purchased a new stake in shares of Bloom Energy during the second quarter valued at $156,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Bloom Energy by 6.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 114,705 shares of the company’s stock valued at $1,404,000 after acquiring an additional 7,205 shares during the period. 77.04% of the stock is currently 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.