Bloom Energy (NYSE:BE) Receives “Neutral” Rating from Piper Sandler

Piper Sandler reiterated their neutral rating on shares of Bloom Energy (NYSE:BE) in a research note published on Tuesday morning, Benzinga reports. The firm currently has a $10.00 target price on the stock, down from their previous target price of $11.00.

A number of other brokerages have also recently issued reports on BE. Bank of America upped their price objective on shares of Bloom Energy from $8.00 to $9.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. UBS Group lowered their price objective on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Susquehanna cut their price objective on Bloom Energy from $16.00 to $13.00 and set a “positive” rating on the stock in a research note on Wednesday, October 16th. Jefferies Financial Group cut Bloom Energy from a “buy” rating to a “hold” rating and decreased their target price for the stock from $15.00 to $11.00 in a research report on Friday, September 6th. Finally, Truist Financial dropped 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. One 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.39.

Bloom Energy Stock Performance

Shares of NYSE BE opened at $10.14 on Tuesday. Bloom Energy has a one year low of $8.41 and a one year high of $18.14. The business’s 50-day moving average price is $10.59 and its two-hundred day moving average price is $12.07. The company has a debt-to-equity ratio of 3.43, a current ratio of 4.65 and a quick ratio of 3.33. The company has a market capitalization of $2.31 billion, a P/E ratio of -7.51 and a beta of 2.69.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $335.80 million for the quarter, compared to the consensus estimate of $307.73 million. Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The firm’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.32) earnings per share. Analysts anticipate that Bloom Energy will post -0.25 earnings per share for the current fiscal year.

Institutional Trading of Bloom Energy

Hedge funds have recently bought and sold shares of the stock. Emerald Advisers LLC bought a new position in shares of Bloom Energy during the 3rd quarter worth about $248,000. Van ECK Associates Corp lifted its holdings in shares of Bloom Energy by 13.1% during the 3rd quarter. Van ECK Associates Corp now owns 661,932 shares of the company’s stock worth $6,990,000 after acquiring an additional 76,536 shares during the period. Emerald Mutual Fund Advisers Trust bought a new position in shares of Bloom Energy during the 3rd quarter worth about $74,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Bloom Energy by 57.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 46,400 shares of the company’s stock worth $490,000 after acquiring an additional 16,973 shares during the period. Finally, Grassi Investment Management bought a new position in shares of Bloom Energy during the 3rd quarter worth about $106,000. 77.04% of the stock is owned by institutional investors.

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.