Bloom Energy (NYSE:BE) PT Lowered to $12.00 at Truist Financial

Bloom Energy (NYSE:BE) had its price objective cut by Truist Financial from $13.00 to $12.00 in a report published on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. increased their target price on Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $15.00 target price on shares of Bloom Energy in a report on Thursday, June 20th. Bank of America boosted their target price on shares of Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Piper Sandler boosted their price objective on shares of Bloom Energy from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, UBS Group reduced their target price on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bloom Energy has an average rating of “Hold” and a consensus target price of $15.68.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $10.16 on Wednesday. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. The firm has a 50-day moving average of $10.83 and a 200-day moving average of $12.16. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $18.14. The stock has a market cap of $2.31 billion, a PE ratio of -7.53 and a beta of 2.69.

Bloom Energy (NYSE:BE) last announced its earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $335.80 million for the quarter, compared to analysts’ expectations of $307.73 million. Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the firm earned ($0.32) earnings per share. As a group, sell-side analysts forecast that Bloom Energy will post -0.25 EPS for the current year.

Hedge Funds Weigh In On Bloom Energy

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Bloom Energy by 1.6% during 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 during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Bloom Energy by 762.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 504,591 shares of the company’s stock worth $5,712,000 after acquiring an additional 446,074 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Bloom Energy by 99,266.7% in the first quarter. Russell Investments Group Ltd. now owns 146,069 shares of the company’s stock worth $1,642,000 after acquiring an additional 145,922 shares during the period. DigitalBridge Group Inc. boosted its holdings in Bloom Energy by 66.3% in the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after acquiring an additional 462,581 shares during the last quarter. Finally, Artemis Investment Management LLP increased its position in Bloom Energy by 20.5% during the 3rd quarter. Artemis Investment Management LLP now owns 738,673 shares of the company’s stock valued at $7,800,000 after purchasing an additional 125,757 shares during the period. Institutional investors own 77.04% of the company’s stock.

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.