Truist Financial Raises Bloom Energy (NYSE:BE) Price Target to $13.00

Bloom Energy (NYSE:BE) had its target price boosted by Truist Financial from $12.00 to $13.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a hold rating on the stock.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group decreased their price target on shares of Bloom Energy from $16.00 to $15.00 and set a buy rating on the stock in a report on Friday, August 9th. Royal Bank of Canada reaffirmed an outperform rating and issued a $15.00 price target on shares of Bloom Energy in a report on Thursday, June 20th. Piper Sandler upped their price target 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. Wells Fargo & Company upped their price target on shares of Bloom Energy from $12.00 to $14.00 and gave the stock an equal weight rating in a report on Monday, May 20th. Finally, JPMorgan Chase & Co. upped their price target on shares of Bloom Energy from $12.00 to $14.00 and gave the stock a neutral rating in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bloom Energy currently has an average rating of Moderate Buy and a consensus price target of $16.08.

Bloom Energy Trading Up 5.0 %

NYSE:BE opened at $11.98 on Monday. The company has a market cap of $2.72 billion, a P/E ratio of -8.87 and a beta of 2.80. The stock’s fifty day moving average price is $13.19 and its two-hundred day moving average price is $12.01. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $18.14. The company has a debt-to-equity ratio of 2.56, a current ratio of 4.45 and a quick ratio of 2.97.

Bloom Energy (NYSE:BE) last posted its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate 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 return on equity of 19.32% and a negative net margin of 22.27%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.32) earnings per share. As a group, analysts expect that Bloom Energy will post -0.26 EPS for the current year.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 2,094 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $14.53, for a total transaction of $30,425.82. Following the completion of the sale, the insider now directly owns 168,867 shares in the company, valued at $2,453,637.51. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.81% of the stock is currently owned by company insiders.

Institutional Trading of Bloom Energy

Institutional investors have recently modified their holdings of the company. Millburn Ridgefield Corp boosted its holdings 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 worth $37,000 after purchasing an additional 1,286 shares during the period. BNP Paribas bought a new position in shares of Bloom Energy in the 1st quarter worth approximately $38,000. ORG Partners LLC purchased a new position in shares of Bloom Energy in the 2nd quarter valued at approximately $40,000. Quest Partners LLC boosted its position in shares of Bloom Energy by 2,780.0% during the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after purchasing an additional 3,475 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in Bloom Energy in the second quarter worth $53,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

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.