Bloom Energy (NYSE:BE) Now Covered by Analysts at Truist Financial

Stock analysts at Truist Financial assumed coverage on shares of Bloom Energy (NYSE:BE – Get Rating) in a research report issued on Monday, FinViz reports. The firm set a “hold” rating and a $20.00 price target on the stock. Truist Financial’s price objective would suggest a potential upside of 33.16% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Raymond James decreased their price target on shares of Bloom Energy from $34.00 to $27.00 and set a “strong-buy” rating on the stock in a report on Friday, February 11th. KeyCorp reissued an “overweight” rating and issued a $30.00 price objective on shares of Bloom Energy in a report on Wednesday, January 5th. Bank of America upgraded shares of Bloom Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $28.00 to $29.00 in a research report on Monday, February 14th. Susquehanna raised shares of Bloom Energy from a “neutral” rating to a “positive” rating and boosted their target price for the company from $18.00 to $33.00 in a research note on Monday, February 28th. Finally, Susquehanna Bancshares upgraded shares of Bloom Energy from a “neutral” rating to a “positive” rating and upped their price objective for the company from $18.00 to $33.00 in a report on Monday, February 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Bloom Energy presently has an average rating of “Buy” and a consensus target price of $27.00.

NYSE BE traded down $3.95 on Monday, reaching $15.02. The company had a trading volume of 117,296 shares, compared to its average volume of 2,889,617. The company’s fifty day moving average is $22.36 and its 200-day moving average is $22.34. Bloom Energy has a 1-year low of $12.55 and a 1-year high of $37.01. The company has a debt-to-equity ratio of 2,524.52, a quick ratio of 1.94 and a current ratio of 2.35. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -15.54 and a beta of 3.38.

Bloom Energy (NYSE:BE – Get Rating) last issued its earnings results on Thursday, May 5th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.12). Bloom Energy had a negative net margin of 16.92% and a negative return on equity of 738.94%. The company had revenue of $201.04 million during the quarter, compared to analyst estimates of $220.75 million. During the same quarter in the prior year, the business earned ($0.17) EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis. On average, research analysts forecast that Bloom Energy will post -0.62 earnings per share for the current year.

In other news, CEO Kr Sridhar sold 65,065 shares of the company’s stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $19.64, for a total value of $1,277,876.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Shawn Marie Soderberg sold 7,519 shares of the firm’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $22.24, for a total value of $167,222.56. Following the transaction, the executive vice president now owns 357,084 shares of the company’s stock, valued at approximately $7,941,548.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 166,218 shares of company stock worth $3,440,960. Insiders own 2.78% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP acquired a new position in shares of Bloom Energy in the 1st quarter worth approximately $32,000. Neo Ivy Capital Management purchased a new stake in shares of Bloom Energy during the fourth quarter worth about $38,000. Psagot Value Holdings Ltd. grew its holdings in Bloom Energy by 74.1% in the third quarter. Psagot Value Holdings Ltd. now owns 2,350 shares of the company’s stock valued at $44,000 after purchasing an additional 1,000 shares during the period. Millburn Ridgefield Corp boosted its stake in shares of Bloom Energy by 209.3% in the first quarter. Millburn Ridgefield Corp now owns 2,032 shares of the company’s stock valued at $49,000 after purchasing an additional 1,375 shares during the period. Finally, FNY Investment Advisers LLC bought a new position in Bloom Energy during the 1st quarter valued at $68,000. 65.68% of the stock is currently owned by hedge funds and other institutional investors.

Bloom Energy Company Profile (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.

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