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

Bloom Energy Co. (NYSE:BE) has earned an average rating of “Hold” from the nineteen research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $14.92.

BE has been the topic of a number of recent analyst reports. Jefferies Financial Group downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and dropped their price target for the stock from $15.00 to $11.00 in a research report on Friday, September 6th. Susquehanna cut their price target on Bloom Energy from $16.00 to $13.00 and set a “positive” rating for the company in a report on Wednesday, October 16th. Truist Financial reduced their price target on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. Robert W. Baird reduced their price target on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Piper Sandler reissued a “neutral” rating and issued a $10.00 target price (down from $11.00) on shares of Bloom Energy in a research note on Tuesday, October 29th.

Bloom Energy Stock Performance

NYSE:BE opened at $13.17 on Monday. Bloom Energy has a 12-month low of $8.41 and a 12-month high of $18.14. The firm has a market capitalization of $3.00 billion, a PE ratio of -23.52 and a beta of 2.71. The firm has a 50-day moving average price of $10.42 and a 200 day moving average price of $12.13. The company has a quick ratio of 3.33, a current ratio of 4.65 and a debt-to-equity ratio of 3.43.

Bloom Energy (NYSE:BE) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The company had revenue of $335.80 million for the quarter, compared to analyst estimates of $307.73 million. Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. Bloom Energy’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.32) earnings per share. Research analysts anticipate that Bloom Energy will post -0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bloom Energy

Several large investors have recently modified their holdings of the company. John G Ullman & Associates Inc. lifted its position in Bloom Energy by 45.3% in the third quarter. John G Ullman & Associates Inc. now owns 268,000 shares of the company’s stock valued at $2,830,000 after purchasing an additional 83,600 shares during the period. Landscape Capital Management L.L.C. purchased a new position in Bloom Energy during the 3rd quarter valued at about $698,000. Intech Investment Management LLC purchased a new stake in shares of Bloom Energy in the third quarter valued at $600,000. Advisors Asset Management Inc. lifted its holdings in Bloom Energy by 45.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 54,140 shares of the company’s stock valued at $572,000 after purchasing an additional 16,993 shares in the last quarter. Finally, SCP Investment LP acquired a new stake in Bloom Energy during the third quarter worth approximately $410,000. 77.04% of the stock is owned by institutional investors and hedge funds.

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.