Bloom Energy’s (BE) “Neutral” Rating Reiterated at Piper Sandler

Bloom Energy (NYSE:BE)‘s stock had its “neutral” rating reissued by investment analysts at Piper Sandler in a report issued on Tuesday, Benzinga reports. They presently have a $10.00 price objective on the stock, down from their prior price objective of $11.00. Piper Sandler’s price target would suggest a potential downside of 0.30% from the company’s current price.

BE has been the topic of several other reports. Truist Financial decreased their target price on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price target on shares of Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. UBS Group cut their target price on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Susquehanna cut their target price on shares of Bloom Energy from $16.00 to $13.00 and set a “positive” rating on the stock in a research report on Wednesday, October 16th. Finally, Bank of America lifted their target price on shares of Bloom Energy from $8.00 to $9.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.39.

Bloom Energy Stock Performance

Shares of NYSE BE traded down $0.12 during mid-day trading on Tuesday, reaching $10.03. 1,435,067 shares of the company were exchanged, compared to its average volume of 5,790,978. The company’s 50-day simple moving average is $10.59 and its 200-day simple moving average is $12.07. The company has a quick ratio of 3.33, a current ratio of 4.65 and a debt-to-equity ratio of 3.43. The stock has a market capitalization of $2.28 billion, a P/E ratio of -7.41 and a beta of 2.69. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $18.14.

Bloom Energy (NYSE:BE) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) EPS 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 business had revenue of $335.80 million for the quarter, compared to analyst estimates of $307.73 million. During the same period last year, the firm earned ($0.32) earnings per share. Bloom Energy’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, research analysts predict that Bloom Energy will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. BNP Paribas purchased a new stake in Bloom Energy during the first quarter worth about $38,000. ORG Partners LLC purchased a new position in shares of Bloom Energy in the second quarter worth about $40,000. Quest Partners LLC increased its stake in shares of Bloom Energy by 2,780.0% in the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after purchasing an additional 3,475 shares in the last quarter. Gilliland Jeter Wealth Management LLC purchased a new position in shares of Bloom Energy in the second quarter worth about $53,000. Finally, Mather Group LLC. purchased a new position in shares of Bloom Energy in the second quarter worth about $66,000. 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.