Bloom Energy Co. (NYSE:BE) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Bloom Energy Co. (NYSE:BEGet Free Report) have received a consensus rating of “Hold” from the eighteen brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $15.69.

Several analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Bloom Energy from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, May 20th. TD Cowen boosted their target price on Bloom Energy from $10.00 to $13.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Truist Financial raised Bloom Energy from a “sell” rating to a “hold” rating and boosted their target price for the company from $9.00 to $11.00 in a research report on Wednesday, March 6th. BTIG Research boosted their target price on Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Finally, Evercore ISI cut their target price on Bloom Energy from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th.

Check Out Our Latest Research Report on BE

Insider Transactions at Bloom Energy

In other news, Director Eddy Zervigon sold 28,150 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $12.86, for a total transaction of $362,009.00. Following the transaction, the director now owns 111,161 shares of the company’s stock, valued at approximately $1,429,530.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Shawn Marie Soderberg sold 8,963 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total transaction of $88,375.18. Following the completion of the sale, the insider now directly owns 168,003 shares in the company, valued at approximately $1,656,509.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eddy Zervigon sold 28,150 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $12.86, for a total value of $362,009.00. Following the sale, the director now owns 111,161 shares of the company’s stock, valued at $1,429,530.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,385 shares of company stock valued at $943,038. 8.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

Hedge funds have recently made changes to their positions in the stock. Swiss National Bank raised its stake in Bloom Energy by 1.1% in the third quarter. Swiss National Bank now owns 402,800 shares of the company’s stock valued at $5,341,000 after buying an additional 4,300 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Bloom Energy by 184.0% in the third quarter. Janney Montgomery Scott LLC now owns 54,410 shares of the company’s stock valued at $721,000 after buying an additional 35,249 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Bloom Energy by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,578,670 shares of the company’s stock valued at $20,933,000 after buying an additional 113,430 shares during the last quarter. UBS Group AG raised its stake in Bloom Energy by 33.3% in the third quarter. UBS Group AG now owns 750,713 shares of the company’s stock valued at $9,954,000 after buying an additional 187,501 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in Bloom Energy by 6.2% in the third quarter. Deutsche Bank AG now owns 971,194 shares of the company’s stock valued at $12,878,000 after buying an additional 57,090 shares during the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Bloom Energy Stock Up 2.6 %

Shares of BE opened at $14.01 on Friday. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of -10.38 and a beta of 2.83. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $18.76. The business’s 50 day simple moving average is $13.01 and its 200-day simple moving average is $12.24. The company has a debt-to-equity ratio of 2.56, a current ratio of 4.45 and a quick ratio of 2.97.

Bloom Energy (NYSE:BEGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The firm had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $254.06 million. Bloom Energy had a negative return on equity of 19.32% and a negative net margin of 22.27%. As a group, equities analysts expect that Bloom Energy will post -0.26 earnings per share for the current fiscal year.

About Bloom Energy

(Get Free Report

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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Analyst Recommendations for Bloom Energy (NYSE:BE)

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