Brokerages Set Bloom Energy Co. (NYSE:BE) PT at $15.69

Shares of Bloom Energy Co. (NYSE:BE) have been given an average recommendation of “Hold” by the eighteen research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $15.69.

BE has been the topic of several research reports. Evercore ISI lowered their price target on shares of Bloom Energy from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Royal Bank of Canada boosted their price target on shares of Bloom Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. BTIG Research upped their target price on shares of Bloom Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Wells Fargo & Company increased their target price on shares of Bloom Energy from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Monday, May 20th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $22.00 target price on shares of Bloom Energy in a research note on Monday, March 25th.

Bloom Energy Stock Performance

Shares of BE stock opened at $13.64 on Friday. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -10.10 and a beta of 2.82. The company has a debt-to-equity ratio of 2.56, a quick ratio of 2.97 and a current ratio of 4.45. Bloom Energy has a 52 week low of $8.41 and a 52 week high of $18.76. The firm’s 50-day simple moving average is $12.91 and its two-hundred day simple moving average is $12.22.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results 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). Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. The business had revenue of $235.30 million during the quarter, compared to the consensus estimate of $254.06 million. As a group, equities analysts forecast that Bloom Energy will post -0.26 earnings per share for the current year.

Insider Activity at Bloom Energy

In related news, Director Eddy Zervigon sold 28,150 shares of the stock in a transaction on Wednesday, May 15th. The shares were 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 legal filing with the SEC, which is available through the SEC website. In other Bloom Energy news, Director Eddy Zervigon sold 28,150 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were 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 approximately $1,429,530.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 8,963 shares of the firm’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 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. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently modified their holdings of BE. Swiss National Bank lifted its position in shares of Bloom Energy by 1.1% in the 3rd quarter. Swiss National Bank now owns 402,800 shares of the company’s stock worth $5,341,000 after purchasing an additional 4,300 shares during the period. Janney Montgomery Scott LLC raised its holdings in Bloom Energy by 184.0% in the third quarter. Janney Montgomery Scott LLC now owns 54,410 shares of the company’s stock worth $721,000 after buying an additional 35,249 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 worth $20,933,000 after buying an additional 113,430 shares during the last quarter. UBS Group AG raised its holdings in Bloom Energy by 33.3% in the third quarter. UBS Group AG now owns 750,713 shares of the company’s stock worth $9,954,000 after buying an additional 187,501 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in Bloom Energy by 6.2% in the third quarter. Deutsche Bank AG now owns 971,194 shares of the company’s stock worth $12,878,000 after buying an additional 57,090 shares during the last quarter. 77.04% of the stock is owned by hedge funds and other 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.