Bloom Energy (NYSE:BE – Get Free Report) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, MarketBeat reports.
Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets reduced their target price on shares of Bloom Energy from $14.00 to $13.00 and set a “market perform” rating on the stock in a research note on Thursday, November 9th. HSBC reduced their target price on shares of Bloom Energy from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, October 24th. Susquehanna reduced their price target on shares of Bloom Energy from $28.00 to $23.00 and set a “positive” rating on the stock in a research report on Friday, November 10th. Morgan Stanley reduced their price target on shares of Bloom Energy from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Truist Financial reduced their price target on shares of Bloom Energy from $18.00 to $12.00 and set a “hold” rating on the stock in a research report on Monday, November 6th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.44.
Check Out Our Latest Report on BE
Bloom Energy Stock Performance
BE stock traded up $0.22 on Wednesday, reaching $15.13. 288,061 shares of the company were exchanged, compared to its average volume of 3,928,268. Bloom Energy has a 12 month low of $9.51 and a 12 month high of $26.55. The stock’s fifty day moving average price is $11.97 and its 200 day moving average price is $14.38. The firm has a market capitalization of $3.39 billion, a PE ratio of -8.84 and a beta of 2.90. The company has a debt-to-equity ratio of 2.48, a current ratio of 3.64 and a quick ratio of 2.61.
Bloom Energy (NYSE:BE – Get Free Report) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.22. Bloom Energy had a negative net margin of 24.58% and a negative return on equity of 23.36%. The firm had revenue of $400.27 million for the quarter, compared to the consensus estimate of $362.75 million. On average, research analysts anticipate that Bloom Energy will post -0.65 EPS for the current fiscal year.
Insider Activity at Bloom Energy
In other Bloom Energy news, EVP Guillermo Brooks sold 3,792 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $12.47, for a total transaction of $47,286.24. Following the completion of the transaction, the executive vice president now owns 143,401 shares of the company’s stock, valued at approximately $1,788,210.47. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.81% of the stock is owned by insiders.
Institutional Investors Weigh In On Bloom Energy
Large investors have recently made changes to their positions in the stock. WealthPLAN Partners LLC bought a new stake in Bloom Energy in the 2nd quarter valued at $33,000. Millburn Ridgefield Corp bought a new position in Bloom Energy during the 3rd quarter worth $33,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Bloom Energy in the first quarter worth $62,000. Carson Advisory Inc. bought a new position in shares of Bloom Energy in the second quarter worth $815,000. Finally, Quantbot Technologies LP increased its position in shares of Bloom Energy by 27.8% in the first quarter. Quantbot Technologies LP now owns 4,673 shares of the company’s stock worth $112,000 after purchasing an additional 1,017 shares during the period. Institutional investors and hedge funds own 82.95% of the company’s stock.
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.
Further Reading
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