Bloom Energy Corporation (NYSE:BE) Receives Consensus Rating of “Hold” from Analysts

Bloom Energy Corporation (NYSE:BE) has been given a consensus recommendation of “Hold” by the twenty-six analysts that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $96.00.

Several brokerages have commented on BE. BMO Capital Markets set a $136.00 price objective on Bloom Energy in a research report on Wednesday, October 29th. Evercore ISI reissued an “outperform” rating on shares of Bloom Energy in a research note on Thursday. TD Cowen raised their price target on shares of Bloom Energy to $105.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. Truist Financial set a $68.00 price objective on shares of Bloom Energy in a report on Friday. Finally, Zacks Research cut shares of Bloom Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd.

Insider Activity

In related news, Director Jim H. Snabe sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $143.04, for a total value of $2,860,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 1,583 shares of Bloom Energy stock in a transaction on Monday, November 17th. The shares were sold at an average price of $105.97, for a total value of $167,750.51. Following the sale, the insider directly owned 221,633 shares of the company’s stock, valued at approximately $23,486,449.01. This trade represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 120,410 shares of company stock valued at $16,557,185. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Hedge funds have recently made changes to their positions in the stock. Bayforest Capital Ltd purchased a new position in Bloom Energy in the first quarter valued at about $2,055,000. AQR Capital Management LLC bought a new stake in shares of Bloom Energy in the 1st quarter valued at about $1,820,000. NewEdge Advisors LLC boosted its holdings in shares of Bloom Energy by 674.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock valued at $37,000 after buying an additional 1,626 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of 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 buying an additional 836,810 shares during the last quarter. Finally, Caxton Associates LLP purchased a new position in shares of Bloom Energy in the 1st quarter worth approximately $384,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Bloom Energy Stock Performance

Shares of NYSE:BE opened at $133.94 on Friday. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. Bloom Energy has a 12 month low of $15.15 and a 12 month high of $147.86. The company has a market capitalization of $31.68 billion, a price-to-earnings ratio of 676.89, a PEG ratio of 10.26 and a beta of 3.01. The firm’s 50-day moving average is $105.35 and its 200 day moving average is $75.25.

Bloom Energy (NYSE:BE) last released its earnings results on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The firm had revenue of $519.05 million for the quarter, compared to analysts’ expectations of $425.18 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. The company’s quarterly revenue was up 57.1% on a year-over-year basis. Research analysts predict that Bloom Energy will post -0.23 EPS for the current year.

Bloom Energy Company Profile

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.