Analysts Set Bloom Energy Co. (NYSE:BE) Target Price at $16.69

Bloom Energy Co. (NYSE:BE) has received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $16.69.

A number of research firms recently commented on BE. Bank of America downgraded Bloom Energy from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $16.00 to $10.00 in a report on Monday, January 29th. JPMorgan Chase & Co. cut Bloom Energy from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $19.00 to $14.00 in a research note on Friday, February 16th. KeyCorp cut Bloom Energy from an “overweight” rating to a “sector weight” rating in a research note on Friday, February 16th. Redburn Atlantic began coverage on Bloom Energy in a research note on Tuesday, February 6th. They issued a “neutral” rating and a $12.50 target price for the company. Finally, Evercore ISI began coverage on Bloom Energy in a research note on Monday, April 1st. They issued an “outperform” rating and a $21.00 target price for the company.

Bloom Energy Trading Up 11.0 %

NYSE BE opened at $10.60 on Thursday. The stock has a 50-day simple moving average of $10.08 and a 200 day simple moving average of $11.68. The company has a market capitalization of $2.38 billion, a PE ratio of -7.31 and a beta of 2.79. The company has a current ratio of 3.60, a quick ratio of 2.53 and a debt-to-equity ratio of 2.41. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $18.76.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. The business had revenue of $356.92 million during the quarter, compared to the consensus estimate of $481.90 million. Bloom Energy had a negative return on equity of 23.88% and a negative net margin of 22.66%. Research analysts forecast that Bloom Energy will post -0.16 EPS for the current year.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 8,963 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 168,003 shares of the company’s stock, valued at approximately $1,656,509.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of the company’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 transaction, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at approximately $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 completion of 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. In the last three months, insiders have sold 74,989 shares of company stock valued at $725,292. 8.81% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millburn Ridgefield Corp bought a new stake in shares of Bloom Energy during the 3rd quarter valued at $33,000. Quest Partners LLC acquired a new position in Bloom Energy in the 4th quarter worth about $51,000. Allspring Global Investments Holdings LLC increased its stake in shares of Bloom Energy by 17.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock valued at $102,000 after buying an additional 1,117 shares during the period. AM Investment Strategies LLC acquired a new stake in shares of Bloom Energy in the third quarter valued at about $133,000. Finally, Fairman Group LLC acquired a new stake in shares of Bloom Energy in the fourth quarter valued at about $146,000. 77.04% of the stock is owned by institutional investors and hedge funds.

About Bloom Energy

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.