Bloom Energy Co. (NYSE:BE) Given Consensus Recommendation of “Hold” by Analysts

Shares of Bloom Energy Co. (NYSE:BE) have received an average rating of “Hold” from the eighteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $15.64.

A number of analysts recently issued reports on the company. Raymond James lowered 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. KeyCorp lowered shares of Bloom Energy from an “overweight” rating to a “sector weight” rating in a research note on Friday, February 16th. Royal Bank of Canada restated an “outperform” rating and issued a $14.00 price target on shares of Bloom Energy in a research note on Tuesday. Redburn Atlantic initiated 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. Finally, Bank of America cut Bloom Energy from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $16.00 to $10.00 in a research note on Monday, January 29th.

Insider Activity at Bloom Energy

In other Bloom Energy news, Director Eddy Zervigon sold 28,150 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $12.86, for a total transaction of $362,009.00. Following the sale, the director now directly owns 111,161 shares of the company’s stock, valued at $1,429,530.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Eddy Zervigon sold 28,150 shares of the stock in a transaction dated 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 directly owns 111,161 shares of the company’s stock, valued at $1,429,530.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kr Sridhar sold 50,746 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $9.74, for a total transaction of $494,266.04. Following the completion of the transaction, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at $26,323,401.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,291 shares of company stock worth $1,457,413. 8.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Millburn Ridgefield Corp increased its stake in shares of Bloom Energy by 64.0% during the first quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock valued at $37,000 after buying an additional 1,286 shares during the period. BNP Paribas purchased a new stake in Bloom Energy in the first quarter worth approximately $38,000. Quest Partners LLC purchased a new stake in Bloom Energy during the 4th quarter valued at $51,000. Allspring Global Investments Holdings LLC boosted its position in Bloom Energy by 17.0% in the third 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 during the last quarter. Finally, Sciencast Management LP bought a new position in shares of Bloom Energy in the 1st quarter worth approximately $133,000. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Trading Up 3.6 %

BE stock opened at $16.30 on Monday. The company has a debt-to-equity ratio of 2.56, a current ratio of 4.45 and a quick ratio of 2.97. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of -12.07 and a beta of 2.77. The business has a fifty day moving average price of $11.27 and a 200 day moving average price of $11.85. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $18.76.

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 for the quarter, compared to the consensus estimate of $254.06 million. Bloom Energy had a negative return on equity of 19.32% and a negative net margin of 22.27%. Analysts expect that Bloom Energy will post -0.26 EPS for the current fiscal year.

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.