Bloom Energy (NYSE:BE) Downgraded to “Neutral” Rating by Mizuho

Mizuho cut shares of Bloom Energy (NYSE:BE) from an outperform rating to a neutral rating in a research report released on Thursday, MarketBeat Ratings reports. Mizuho currently has $79.00 target price on the stock, up from their prior target price of $48.00.

Other equities analysts have also issued reports about the stock. Susquehanna lifted their price objective on shares of Bloom Energy from $26.00 to $30.00 and gave the company a “positive” rating in a research report on Monday, July 21st. Bank of America boosted their target price on shares of Bloom Energy from $21.00 to $24.00 and gave the stock an “underperform” rating in a research report on Tuesday, September 23rd. Robert W. Baird boosted their target price on shares of Bloom Energy from $45.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Roth Capital boosted their target price on shares of Bloom Energy from $34.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, September 19th. Finally, Royal Bank Of Canada set a $75.00 target price on shares of Bloom Energy in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $43.82.

Bloom Energy Stock Performance

NYSE:BE opened at $87.99 on Thursday. The firm’s fifty day moving average price is $55.41 and its 200 day moving average price is $32.76. Bloom Energy has a 1-year low of $9.02 and a 1-year high of $92.16. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21. The firm has a market cap of $20.59 billion, a price-to-earnings ratio of 2,200.30 and a beta of 3.48.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.10 earnings per share 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 firm had revenue of $401.24 million for the quarter, compared to analyst estimates of $382.23 million. During the same period last year, the firm posted ($0.06) EPS. Bloom Energy’s quarterly revenue was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Bloom Energy will post -0.23 EPS for the current year.

Insider Transactions at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 45,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $43.31, for a total transaction of $1,948,950.00. Following the transaction, the insider owned 229,682 shares in the company, valued at $9,947,527.42. The trade was a 16.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Satish Chitoori sold 20,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $45.00, for a total value of $900,000.00. Following the transaction, the insider owned 234,493 shares in the company, valued at approximately $10,552,185. This represents a 7.86% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 302,205 shares of company stock valued at $14,919,283. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Bloom Energy

A number of hedge funds have recently made changes to their positions in BE. Norges Bank purchased a new position in Bloom Energy in the 2nd quarter worth approximately $57,821,000. Man Group plc raised its holdings in Bloom Energy by 177.4% in the 2nd quarter. Man Group plc now owns 2,392,915 shares of the company’s stock worth $57,239,000 after acquiring an additional 1,530,167 shares during the last quarter. Tree Line Advisors Hong Kong Ltd. purchased a new position in Bloom Energy in the 1st quarter worth approximately $22,609,000. Driehaus Capital Management LLC purchased a new position in Bloom Energy in the 1st quarter worth approximately $21,066,000. Finally, Goldman Sachs Group Inc. raised its holdings in Bloom Energy by 50.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock worth $49,127,000 after acquiring an additional 836,810 shares during the last quarter. 77.04% of the stock is owned by institutional investors.

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.