BMO Capital Markets Lowers Bloom Energy (NYSE:BE) Price Target to $18.50

Bloom Energy (NYSE:BE – Get Rating) had its target price lowered by equities researchers at BMO Capital Markets from $22.00 to $18.50 in a note issued to investors on Wednesday, The Fly reports. BMO Capital Markets’ price objective indicates a potential upside of 36.53% from the company’s previous close.

A number of other equities research analysts have also weighed in on BE. Wells Fargo & Company lowered their price objective on Bloom Energy from $24.00 to $20.00 in a report on Friday, May 12th. Truist Financial lowered their price objective on Bloom Energy from $26.00 to $20.00 in a report on Wednesday, May 10th. Morgan Stanley lowered their price objective on Bloom Energy from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, April 3rd. TheStreet downgraded shares of Bloom Energy from a “c-” rating to a “d+” rating in a research report on Tuesday, May 9th. Finally, Jefferies Financial Group reduced their price target on shares of Bloom Energy from $30.00 to $25.00 in a research report on Monday, May 15th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Bloom Energy has a consensus rating of “Moderate Buy” and a consensus price target of $27.91.

Bloom Energy Price Performance

Shares of BE opened at $13.55 on Wednesday. Bloom Energy has a twelve month low of $12.33 and a twelve month high of $31.47. The stock’s 50 day moving average is $16.98 and its two-hundred day moving average is $20.15. The firm has a market capitalization of $2.83 billion, a PE ratio of -8.69 and a beta of 2.85. The company has a current ratio of 1.61, a quick ratio of 1.10 and a debt-to-equity ratio of 1.88.

Insiders Place Their Bets

In other Bloom Energy news, CEO Kr Sridhar sold 177,786 shares of the stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $18.06, for a total value of $3,210,815.16. Following the completion of the sale, the chief executive officer now owns 662,872 shares of the company’s stock, valued at $11,971,468.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Bloom Energy news, insider Sharelynn Faye Moore sold 6,002 shares of Bloom Energy stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $13.21, for a total value of $79,286.42. Following the completion of the transaction, the insider now owns 167,269 shares of the company’s stock, valued at $2,209,623.49. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kr Sridhar sold 177,786 shares of Bloom Energy stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $18.06, for a total transaction of $3,210,815.16. Following the completion of the transaction, the chief executive officer now directly owns 662,872 shares of the company’s stock, valued at approximately $11,971,468.32. The disclosure for this sale can be found here. Insiders have sold a total of 271,361 shares of company stock worth $4,715,532 over the last quarter. 8.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning raised its stake in shares of Bloom Energy by 0.9% during the second quarter. Creative Planning now owns 42,778 shares of the company’s stock valued at $706,000 after purchasing an additional 366 shares in the last quarter. Metropolitan Life Insurance Co NY raised its stake in shares of Bloom Energy by 4.7% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 11,110 shares of the company’s stock valued at $212,000 after purchasing an additional 502 shares in the last quarter. Capital Impact Advisors LLC grew its holdings in Bloom Energy by 1.7% during the third quarter. Capital Impact Advisors LLC now owns 34,793 shares of the company’s stock worth $735,000 after acquiring an additional 584 shares during the period. PNC Financial Services Group Inc. grew its holdings in Bloom Energy by 1.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 57,530 shares of the company’s stock worth $1,100,000 after acquiring an additional 797 shares during the period. Finally, Flputnam Investment Management Co. increased its stake in Bloom Energy by 1.8% in the 4th quarter. Flputnam Investment Management Co. now owns 48,916 shares of the company’s stock worth $935,000 after purchasing an additional 846 shares in the last quarter. 79.55% of the stock is currently owned by institutional investors.

About Bloom Energy

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Bloom Energy Corp. engages in the manufacture and installation of a solid oxide fuel-cell based power generation platform. Its product, Bloom Energy Server, converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion. The company was founded by K.