Jefferies Financial Group Lowers Bloom Energy (NYSE:BE) to Hold

Jefferies Financial Group cut shares of Bloom Energy (NYSE:BE) from a buy rating to a hold rating in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm currently has $11.00 price target on the stock, down from their prior price target of $15.00.

Other analysts have also recently issued reports about the company. TD Cowen upped their target price on Bloom Energy from $10.00 to $13.00 and gave the company a hold rating in a report on Friday, May 10th. Wells Fargo & Company increased their price target on Bloom Energy from $12.00 to $14.00 and gave the stock an equal weight rating in a report on Monday, May 20th. Royal Bank of Canada reiterated an outperform rating and set a $15.00 price target on shares of Bloom Energy in a report on Thursday, June 20th. Piper Sandler increased their price target on Bloom Energy from $10.00 to $11.00 and gave the stock a neutral rating in a report on Monday, July 22nd. Finally, UBS Group lowered their price target on Bloom Energy from $25.00 to $23.00 and set a buy rating for the company in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $15.88.

Bloom Energy Stock Down 2.1 %

Shares of NYSE:BE opened at $9.75 on Friday. The company has a quick ratio of 3.33, a current ratio of 4.65 and a debt-to-equity ratio of 3.43. The business has a fifty day moving average of $12.35 and a two-hundred day moving average of $12.06. The stock has a market cap of $2.22 billion, a P/E ratio of -7.22 and a beta of 2.69. Bloom Energy has a 52-week low of $8.41 and a 52-week 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 (EPS) for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $335.80 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.32) EPS. On average, research analysts expect that Bloom Energy will post -0.25 earnings per share for the current year.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 2,094 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total transaction of $30,425.82. Following the sale, the insider now owns 168,867 shares of the company’s stock, valued at approximately $2,453,637.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently made changes to their positions in BE. Millburn Ridgefield Corp raised its position in shares of Bloom Energy by 64.0% during the 1st quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock worth $37,000 after acquiring an additional 1,286 shares in the last quarter. BNP Paribas purchased a new position in Bloom Energy during the 1st quarter worth approximately $38,000. ORG Partners LLC purchased a new position in Bloom Energy during the 2nd quarter worth approximately $40,000. Quest Partners LLC grew its stake in Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after buying an additional 3,475 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in Bloom Energy during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

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.