Robert W. Baird Has Lowered Expectations for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its price target decreased by Robert W. Baird from $18.00 to $15.00 in a report released on Friday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the company. Bank of America reduced their price target on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research report on Thursday. Truist Financial cut their price objective on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. Piper Sandler reiterated a “neutral” rating and issued a $10.00 price objective (down from $11.00) on shares of Bloom Energy in a research report on Tuesday, October 29th. Susquehanna cut their price objective on Bloom Energy from $16.00 to $13.00 and set a “positive” rating on the stock in a research report on Wednesday, October 16th. Finally, UBS Group cut their price objective on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $14.92.

Bloom Energy Trading Up 23.4 %

BE traded up $2.50 on Friday, hitting $13.17. 23,196,127 shares of the company were exchanged, compared to its average volume of 5,980,025. The firm has a fifty day simple moving average of $10.42 and a two-hundred day simple moving average of $12.10. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $18.14. The stock has a market capitalization of $3.00 billion, a PE ratio of -10.13 and a beta of 2.71.

Bloom Energy (NYSE:BE) last posted its quarterly 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). Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The business had revenue of $335.80 million for the quarter, compared to analyst estimates of $307.73 million. During the same period last year, the company earned ($0.32) EPS. Bloom Energy’s revenue for the quarter was up 11.5% compared to the same quarter last year. Sell-side analysts expect that Bloom Energy will post -0.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Bloom Energy by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock worth $221,262,000 after purchasing an additional 156,434 shares during the last quarter. Electron Capital Partners LLC raised its stake in shares of Bloom Energy by 131.5% in the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after purchasing an additional 1,790,733 shares during the last quarter. DigitalBridge Group Inc. raised its stake in shares of Bloom Energy by 66.3% in the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after purchasing an additional 462,581 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Bloom Energy by 48.6% in the second quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock worth $10,644,000 after purchasing an additional 284,298 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Bloom Energy by 64.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 830,405 shares of the company’s stock worth $11,017,000 after purchasing an additional 325,814 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

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.