Bloom Energy (NYSE:BE – Get Rating) had its target price lowered by analysts at Raymond James from $27.00 to $23.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “strong-buy” rating on the stock. Raymond James’ price objective would suggest a potential upside of 35.06% from the stock’s current price.
BE has been the topic of a number of other reports. KeyCorp reiterated an “overweight” rating and issued a $30.00 target price on shares of Bloom Energy in a research report on Thursday, June 2nd. Piper Sandler started coverage on Bloom Energy in a report on Wednesday, June 8th. They set a “hold” rating and a $20.00 price objective for the company. Susquehanna reduced their target price on Bloom Energy from $33.00 to $28.00 in a research note on Tuesday, May 10th. Morgan Stanley reduced their target price on Bloom Energy from $25.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, June 13th. Finally, Truist Financial increased their price target on Bloom Energy to $19.00 in a research report on Friday, May 27th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.42.
NYSE:BE traded down $0.84 during trading hours on Tuesday, reaching $17.03. 21,573 shares of the company traded hands, compared to its average volume of 2,239,381. The stock has a market capitalization of $3.03 billion, a P/E ratio of -13.87 and a beta of 3.24. The business’s 50-day moving average price is $16.71 and its two-hundred day moving average price is $18.99. Bloom Energy has a 1 year low of $11.47 and a 1 year high of $37.01.
Bloom Energy (NYSE:BE – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.27). Bloom Energy had a negative return on equity of 738.94% and a negative net margin of 22.25%. The firm had revenue of $201.04 million during the quarter, compared to the consensus estimate of $220.75 million. During the same period in the previous year, the firm earned ($0.17) EPS. The business’s revenue was up 3.6% on a year-over-year basis. As a group, analysts anticipate that Bloom Energy will post -0.94 EPS for the current fiscal year.
In other Bloom Energy news, EVP Shawn Marie Soderberg sold 2,397 shares of the business’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $15.72, for a total transaction of $37,680.84. Following the completion of the transaction, the executive vice president now directly owns 357,718 shares of the company’s stock, valued at approximately $5,623,326.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kr Sridhar sold 10,937 shares of the business’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $16.63, for a total transaction of $181,882.31. Following the transaction, the chief executive officer now directly owns 501,938 shares of the company’s stock, valued at $8,347,228.94. The disclosure for this sale can be found here. Insiders have sold a total of 24,593 shares of company stock worth $449,148 in the last ninety days. 2.78% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of BE. Geode Capital Management LLC lifted its stake in Bloom Energy by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 2,426,156 shares of the company’s stock valued at $53,205,000 after purchasing an additional 77,018 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Bloom Energy during the first quarter valued at approximately $68,000. First Hawaiian Bank raised its holdings in shares of Bloom Energy by 34.6% during the first quarter. First Hawaiian Bank now owns 16,733 shares of the company’s stock valued at $404,000 after acquiring an additional 4,300 shares during the period. Canal Insurance CO increased its stake in Bloom Energy by 100.0% in the 1st quarter. Canal Insurance CO now owns 20,000 shares of the company’s stock valued at $483,000 after buying an additional 10,000 shares during the period. Finally, Defender Capital LLC. increased its stake in Bloom Energy by 655.0% in the 1st quarter. Defender Capital LLC. now owns 151,000 shares of the company’s stock valued at $3,603,000 after buying an additional 131,000 shares during the period. 65.68% of the stock is owned by institutional investors.
About Bloom Energy (Get Rating)
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 power generation platform that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion.