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

Shares of Bloom Energy Co. (NYSE:BEGet Free Report) have been given an average rating of “Hold” by the fifteen analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $16.44.

A number of research firms have weighed in on BE. Morgan Stanley reaffirmed an “overweight” rating and set a $22.00 target price on shares of Bloom Energy in a research note on Monday, March 25th. Royal Bank of Canada decreased their target price on shares of Bloom Energy from $21.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. Redburn Atlantic began coverage on shares of Bloom Energy in a research note on Tuesday, February 6th. They set a “neutral” rating and a $12.50 target price on the stock. BTIG Research began coverage on shares of Bloom Energy in a research note on Thursday, January 25th. They set a “buy” rating and a $21.00 target price on the stock. Finally, JPMorgan Chase & Co. cut shares of Bloom Energy from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $19.00 to $14.00 in a research note on Friday, February 16th.

Check Out Our Latest Research Report on Bloom Energy

Insider Activity at Bloom Energy

In other news, CEO Kr Sridhar sold 50,746 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $9.74, for a total transaction of $494,266.04. Following the transaction, the chief executive officer now owns 2,702,608 shares in the company, valued at $26,323,401.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Kr Sridhar sold 50,746 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $9.74, for a total transaction of $494,266.04. Following the transaction, the chief executive officer now owns 2,702,608 shares in the company, valued at $26,323,401.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Shawn Marie Soderberg sold 13,120 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $9.34, for a total transaction of $122,540.80. Following the transaction, the executive vice president now owns 73,946 shares in the company, valued at approximately $690,655.64. The disclosure for this sale can be found here. Insiders have sold a total of 67,782 shares of company stock worth $658,463 over the last quarter. Company insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Bloom Energy by 1.3% during the first quarter. BlackRock Inc. now owns 21,141,205 shares of the company’s stock worth $421,344,000 after acquiring an additional 263,507 shares in the last quarter. Vanguard Group Inc. grew its position in Bloom Energy by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 19,528,801 shares of the company’s stock worth $289,026,000 after purchasing an additional 307,627 shares in the last quarter. Norges Bank bought a new stake in Bloom Energy in the 4th quarter worth about $82,678,000. State Street Corp grew its position in Bloom Energy by 2.8% in the 1st quarter. State Street Corp now owns 4,586,967 shares of the company’s stock worth $91,417,000 after purchasing an additional 125,720 shares in the last quarter. Finally, Coatue Management LLC grew its position in Bloom Energy by 28.3% in the 4th quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock worth $65,666,000 after purchasing an additional 978,053 shares in the last quarter. 77.04% of the stock is owned by institutional investors.

Bloom Energy Stock Performance

Shares of NYSE:BE opened at $11.24 on Friday. The company’s 50 day simple moving average is $10.46 and its 200 day simple moving average is $12.02. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of -7.75 and a beta of 2.76. The company has a debt-to-equity ratio of 2.41, a current ratio of 3.60 and a quick ratio of 2.53. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $20.62.

Bloom Energy (NYSE:BEGet Free Report) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. The business had revenue of $356.92 million for the quarter, compared to analysts’ expectations of $481.90 million. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. As a group, research analysts predict that Bloom Energy will post -0.17 EPS for the current fiscal year.

Bloom Energy Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Bloom Energy (NYSE:BE)

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