Bloom Energy (NYSE:BE – Get Free Report) was downgraded by equities researchers at Truist Financial from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Briefing.com reports. They presently have a $9.00 price target on the stock, down from their previous price target of $12.00. Truist Financial’s target price would suggest a potential downside of 25.37% from the company’s current price.
Several other equities research analysts also recently issued reports on BE. Susquehanna cut their target price on shares of Bloom Energy from $28.00 to $23.00 and set a “positive” rating for the company in a research note on Friday, November 10th. CL King began coverage on shares of Bloom Energy in a research report on Friday, November 17th. They set a “buy” rating and a $15.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Bloom Energy from $22.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, October 19th. BMO Capital Markets reduced their price objective on shares of Bloom Energy from $14.00 to $13.00 and set a “market perform” rating for the company in a research note on Thursday, November 9th. Finally, Morgan Stanley dropped their price objective on shares of Bloom Energy from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.94.
Read Our Latest Stock Analysis on BE
Bloom Energy Price Performance
Shares of NYSE:BE opened at $12.06 on Tuesday. Bloom Energy has a fifty-two week low of $9.51 and a fifty-two week high of $26.55. The company has a debt-to-equity ratio of 2.48, a current ratio of 3.64 and a quick ratio of 2.61. The stock has a market capitalization of $2.70 billion, a P/E ratio of -7.09 and a beta of 2.80. The business has a 50-day moving average of $13.63 and a two-hundred day moving average of $13.94.
Bloom Energy (NYSE:BE – Get Free Report) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.22. Bloom Energy had a negative return on equity of 23.36% and a negative net margin of 24.58%. The company had revenue of $400.27 million for the quarter, compared to analyst estimates of $362.75 million. On average, equities research analysts predict that Bloom Energy will post -0.59 EPS for the current fiscal year.
Institutional Trading of Bloom Energy
A number of large investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Bloom Energy by 1.3% in the 1st quarter. BlackRock Inc. now owns 21,141,205 shares of the company’s stock valued at $421,344,000 after acquiring an additional 263,507 shares during the period. Vanguard Group Inc. boosted its position in shares of Bloom Energy by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 19,221,174 shares of the company’s stock worth $254,873,000 after buying an additional 1,635,738 shares in the last quarter. Norges Bank acquired a new position in Bloom Energy in the 4th quarter valued at about $102,826,000. State Street Corp raised its stake in Bloom Energy by 2.8% in the 1st quarter. State Street Corp now owns 4,586,967 shares of the company’s stock valued at $91,417,000 after purchasing an additional 125,720 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in Bloom Energy by 21.7% in the 1st quarter. Clearbridge Investments LLC now owns 3,840,712 shares of the company’s stock valued at $92,753,000 after purchasing an additional 685,213 shares during the last quarter. 82.95% 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.
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