Bloom Energy Corporation (NYSE:BE) Given Consensus Recommendation of “Hold” by Analysts

Shares of Bloom Energy Corporation (NYSE:BE) have been given an average rating of “Hold” by the twenty-one research firms that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $38.2895.

A number of analysts have commented on the stock. Susquehanna upped their target price on shares of Bloom Energy from $26.00 to $30.00 and gave the company a “positive” rating in a report on Monday, July 21st. Robert W. Baird upped their target price on shares of Bloom Energy from $45.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Jefferies Financial Group cut shares of Bloom Energy from a “hold” rating to an “underperform” rating and upped their target price for the company from $24.00 to $31.00 in a report on Wednesday, September 24th. JPMorgan Chase & Co. upgraded shares of Bloom Energy from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $18.00 to $33.00 in a research report on Wednesday, July 9th. Finally, Morgan Stanley upped their price target on shares of Bloom Energy from $35.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st.

Bloom Energy Stock Up 6.9%

Shares of BE stock opened at $90.44 on Thursday. Bloom Energy has a 12 month low of $9.02 and a 12 month high of $91.23. The stock has a market cap of $21.16 billion, a P/E ratio of 2,261.64 and a beta of 3.47. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. The company has a 50 day simple moving average of $54.31 and a two-hundred day simple moving average of $32.32.

Bloom Energy (NYSE:BE) last announced its earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.08. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The business had revenue of $401.24 million during the quarter, compared to analysts’ expectations of $382.23 million. During the same period in the prior year, the company earned ($0.06) earnings per share. The firm’s revenue was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. On average, research analysts expect that Bloom Energy will post -0.23 earnings per share for the current year.

Insiders Place Their Bets

In other Bloom Energy news, insider Maciej Kurzymski sold 2,474 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $70.47, for a total value of $174,342.78. Following the completion of the transaction, the insider directly owned 106,374 shares in the company, valued at $7,496,175.78. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kr Sridhar sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the completion of the transaction, the chief executive officer owned 2,368,951 shares of the company’s stock, valued at approximately $117,736,864.70. The trade was a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 302,205 shares of company stock valued at $14,919,283. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently modified their holdings of BE. GAMMA Investing LLC boosted its position in shares of Bloom Energy by 2,149.6% during the first quarter. GAMMA Investing LLC now owns 60,513 shares of the company’s stock worth $1,190,000 after acquiring an additional 57,823 shares during the last quarter. Parallel Advisors LLC raised its stake in Bloom Energy by 241.2% during the first quarter. Parallel Advisors LLC now owns 7,626 shares of the company’s stock valued at $150,000 after purchasing an additional 5,391 shares in the last quarter. Rhumbline Advisers raised its stake in Bloom Energy by 2.8% during the first quarter. Rhumbline Advisers now owns 298,283 shares of the company’s stock valued at $5,864,000 after purchasing an additional 8,212 shares in the last quarter. Chesley Taft & Associates LLC raised its stake in Bloom Energy by 27.7% during the first quarter. Chesley Taft & Associates LLC now owns 12,956 shares of the company’s stock valued at $255,000 after purchasing an additional 2,807 shares in the last quarter. Finally, MRA Advisory Group purchased a new stake in Bloom Energy during the first quarter valued at $374,000. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Company Profile

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.