Bloom Energy (NYSE:BE – Get Rating) had its price target cut by equities researchers at Morgan Stanley from $25.00 to $21.00 in a research report issued to clients and investors on Monday, Stock Target Advisor reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 42.47% from the stock’s previous close.
A number of other analysts have also recently weighed in on the company. KeyCorp reiterated an “overweight” rating and issued a $30.00 price target on shares of Bloom Energy in a research report on Thursday, June 2nd. Bank of America raised shares of Bloom Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $28.00 to $29.00 in a report on Monday, February 14th. Truist Financial upped their price objective on shares of Bloom Energy to $19.00 in a research note on Friday, May 27th. Piper Sandler assumed coverage on shares of Bloom Energy in a research note on Wednesday, June 8th. They issued a “hold” rating and a $20.00 target price for the company. Finally, Susquehanna decreased their price target on Bloom Energy from $33.00 to $28.00 in a research report on Tuesday, May 10th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $25.55.
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Shares of BE stock traded down $2.31 during trading hours on Monday, reaching $14.74. 90,436 shares of the company’s stock were exchanged, compared to its average volume of 3,731,357. Bloom Energy has a fifty-two week low of $11.47 and a fifty-two week high of $37.01. The stock has a market capitalization of $2.63 billion, a P/E ratio of -11.82 and a beta of 3.39. The business has a fifty day moving average price of $18.64 and a 200-day moving average price of $19.97. The company has a quick ratio of 1.56, a current ratio of 2.09 and a debt-to-equity ratio of 2,524.52.
Bloom Energy (NYSE:BE – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.27). The business had revenue of $201.04 million for the quarter, compared to analyst estimates of $220.75 million. Bloom Energy had a negative return on equity of 738.94% and a negative net margin of 22.25%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.17) EPS. As a group, research analysts expect that Bloom Energy will post -0.96 EPS for the current fiscal year.
In other Bloom Energy news, CEO Kr Sridhar sold 10,823 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $21.40, for a total transaction of $231,612.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Shawn Marie Soderberg sold 2,397 shares of the firm’s stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $15.72, for a total value of $37,680.84. Following the transaction, the executive vice president now owns 357,718 shares in the company, valued at approximately $5,623,326.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,437 shares of company stock worth $1,939,871. Insiders own 2.78% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Bloom Energy in the 4th quarter valued at approximately $74,217,000. BlackRock Inc. raised its position in Bloom Energy by 11.7% in the 4th quarter. BlackRock Inc. now owns 15,640,711 shares of the company’s stock valued at $343,002,000 after buying an additional 1,644,528 shares during the last quarter. Marshall Wace LLP raised its position in Bloom Energy by 890.3% in the 4th quarter. Marshall Wace LLP now owns 1,122,137 shares of the company’s stock valued at $24,609,000 after buying an additional 1,008,820 shares during the last quarter. California State Teachers Retirement System raised its position in Bloom Energy by 476.6% in the 4th quarter. California State Teachers Retirement System now owns 1,116,075 shares of the company’s stock valued at $24,476,000 after buying an additional 922,520 shares during the last quarter. Finally, FMR LLC acquired a new stake in Bloom Energy in the 1st quarter valued at approximately $11,026,000. 65.68% of the stock is currently owned by institutional investors.
About Bloom Energy (Get Rating)
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 power generation platform that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion.
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