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

Shares of Bloom Energy Co. (NYSE:BE) have earned an average recommendation of “Hold” from the twenty ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $15.88.

Several research analysts have commented on the stock. Jefferies Financial Group downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and lowered their price objective for the company from $15.00 to $11.00 in a research report on Friday, September 6th. JPMorgan Chase & Co. boosted their price target on Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Royal Bank of Canada restated an “outperform” rating and set a $15.00 price objective on shares of Bloom Energy in a research report on Thursday, June 20th. UBS Group decreased their target price on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, Piper Sandler increased their target price on shares of Bloom Energy from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd.

Insider Transactions at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 2,094 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total value of $30,425.82. Following the sale, the insider now directly owns 168,867 shares in the company, valued at $2,453,637.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.81% of the stock is owned by corporate insiders.

Institutional Trading of Bloom Energy

Institutional investors have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. acquired a new position in Bloom Energy in the second quarter valued at approximately $215,000. Creative Planning lifted its position in shares of Bloom Energy by 31.5% during the 2nd quarter. Creative Planning now owns 34,394 shares of the company’s stock valued at $421,000 after acquiring an additional 8,244 shares during the period. Algert Global LLC bought a new position in Bloom Energy during the second quarter worth $251,000. Sender Co & Partners Inc. bought a new position in Bloom Energy during the second quarter worth $156,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Bloom Energy by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 114,705 shares of the company’s stock worth $1,404,000 after purchasing an additional 7,205 shares during the period. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Performance

NYSE:BE opened at $10.70 on Friday. The company has a market cap of $2.43 billion, a price-to-earnings ratio of -7.93 and a beta of 2.69. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $18.14. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. The stock has a fifty day moving average price of $11.52 and a 200-day moving average price of $12.13.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $335.80 million for the quarter, compared to the consensus estimate of $307.73 million. Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.32) earnings per share. As a group, equities analysts anticipate that Bloom Energy will post -0.25 EPS for the current fiscal year.

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.