Bloom Energy (NYSE:BE) Price Target Lowered to $12.00 at Truist Financial

Bloom Energy (NYSE:BE) had its price target trimmed by Truist Financial from $13.00 to $12.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other equities analysts have also commented on the stock. Piper Sandler raised their price objective 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. Royal Bank of Canada reiterated an “outperform” rating and set a $15.00 price target on shares of Bloom Energy in a report on Thursday, June 20th. Jefferies Financial Group downgraded Bloom Energy from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $15.00 to $11.00 in a research note on Friday, September 6th. Bank of America lifted their target price on Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. increased their price target on shares of Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Bloom Energy has an average rating of “Hold” and an average target price of $15.68.

Bloom Energy Trading Down 0.5 %

Shares of NYSE:BE opened at $10.41 on Wednesday. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of -7.71 and a beta of 2.69. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $18.14. The company has a 50 day moving average price of $10.87 and a 200 day moving average price of $12.18. 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 (NYSE:BE) last issued its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The business had revenue of $335.80 million for the quarter, compared to analysts’ expectations of $307.73 million. During the same period in the previous year, the firm posted ($0.32) EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. On average, research analysts anticipate that Bloom Energy will post -0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BE. Gruss & Co. LLC acquired a new position in Bloom Energy in the 3rd quarter valued at $158,000. Wesbanco Bank Inc. boosted its holdings in Bloom Energy by 66.1% during the third quarter. Wesbanco Bank Inc. now owns 103,000 shares of the company’s stock valued at $1,088,000 after acquiring an additional 41,000 shares during the period. Artemis Investment Management LLP grew its position in shares of Bloom Energy by 20.5% in the third quarter. Artemis Investment Management LLP now owns 738,673 shares of the company’s stock valued at $7,800,000 after purchasing an additional 125,757 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Bloom Energy in the second quarter worth about $215,000. Finally, Creative Planning lifted its position in shares of Bloom Energy by 31.5% during the 2nd quarter. Creative Planning now owns 34,394 shares of the company’s stock worth $421,000 after purchasing an additional 8,244 shares during the last quarter. 77.04% of the stock is owned by institutional investors.

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.