Bloom Energy Co. (NYSE:BE) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Bloom Energy Co. (NYSE:BE) have been assigned a consensus rating of “Hold” from the twenty analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $15.88.

BE has been the subject of several recent research reports. Bank of America boosted their price target on Bloom Energy from $8.00 to $9.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. UBS Group lowered their price target on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $15.00 price objective on shares of Bloom Energy in a research note on Thursday, June 20th. BTIG Research raised their target price on shares of Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, Jefferies Financial Group downgraded Bloom Energy from a “buy” rating to a “hold” rating and reduced their price target for the stock from $15.00 to $11.00 in a research report on Friday, September 6th.

Bloom Energy Price Performance

Bloom Energy stock opened at $10.91 on Friday. 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 stock has a market cap of $2.48 billion, a price-to-earnings ratio of -8.08 and a beta of 2.69. The firm has a 50-day moving average of $11.94 and a two-hundred day moving average of $12.13. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $18.14.

Bloom Energy (NYSE:BE) last issued its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The business had revenue of $335.80 million during the quarter, compared to analyst estimates of $307.73 million. During the same period in the previous year, the company posted ($0.32) EPS. Bloom Energy’s revenue was up 11.5% on a year-over-year basis. On average, research analysts forecast that Bloom Energy will post -0.25 earnings per share for the current year.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 2,094 shares of Bloom Energy stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $14.53, for a total transaction of $30,425.82. Following the completion of the sale, the insider now directly owns 168,867 shares in the company, valued at approximately $2,453,637.51. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

A number of hedge funds have recently modified their holdings of BE. Millburn Ridgefield Corp boosted its holdings in Bloom Energy by 64.0% during the first quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock worth $37,000 after buying an additional 1,286 shares in the last quarter. BNP Paribas acquired a new position in shares of Bloom Energy in the first quarter worth about $38,000. ORG Partners LLC purchased a new stake in shares of Bloom Energy during the 2nd quarter worth about $40,000. Quest Partners LLC grew its position in shares of Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after acquiring an additional 3,475 shares during the period. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in shares of Bloom Energy in the 2nd quarter valued at about $53,000. Hedge funds and other 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.