Bloom Energy (NYSE:BE) PT Lowered to $20.00

Bloom Energy (NYSE:BE) had its price objective cut by analysts at Evercore ISI from $21.00 to $20.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price target would suggest a potential upside of 70.50% from the stock’s previous close.

BE has been the subject of several other reports. Redburn Atlantic assumed coverage on Bloom Energy in a report on Tuesday, February 6th. They issued a “neutral” rating and a $12.50 price objective for the company. Royal Bank of Canada lowered their price objective on Bloom Energy from $21.00 to $14.00 and set an “outperform” rating for the company in a report on Friday, February 16th. Bank of America downgraded Bloom Energy from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $16.00 to $10.00 in a research note on Monday, January 29th. Raymond James decreased their target price on Bloom Energy from $20.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Finally, Piper Sandler decreased their target price on Bloom Energy from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $16.45.

Bloom Energy Stock Down 0.6 %

Shares of NYSE BE opened at $11.73 on Friday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 2.53 and a current ratio of 3.60. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of -8.09 and a beta of 2.77. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $18.76. The stock’s 50-day simple moving average is $10.55 and its 200-day simple moving average is $11.66.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The firm had revenue of $235.30 million during the quarter, compared to the consensus estimate of $254.06 million. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. As a group, equities analysts anticipate that Bloom Energy will post -0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy 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 value of $88,375.18. Following the transaction, the insider now owns 168,003 shares of the company’s stock, valued at $1,656,509.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Kr Sridhar sold 50,746 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $9.74, for a total value of $494,266.04. Following the completion of the sale, the chief executive officer now owns 2,702,608 shares of the company’s stock, valued at $26,323,401.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shawn Marie Soderberg sold 8,963 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $9.86, for a total value of $88,375.18. Following the transaction, the insider now directly owns 168,003 shares in the company, valued at $1,656,509.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,989 shares of company stock valued at $725,292. Corporate insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Millburn Ridgefield Corp acquired a new position in shares of Bloom Energy in the third quarter worth $33,000. BNP Paribas purchased a new position in Bloom Energy in the first quarter valued at about $38,000. Quest Partners LLC acquired a new position in Bloom Energy in the 4th quarter worth about $51,000. Allspring Global Investments Holdings LLC raised its stake in shares of Bloom Energy by 17.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock worth $102,000 after purchasing an additional 1,117 shares in the last quarter. Finally, Sciencast Management LP acquired a new stake in shares of Bloom Energy during the 1st quarter valued at about $133,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

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.