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

Bloom Energy (NYSE:BE) had its price target lowered by stock analysts at Truist Financial from $13.00 to $12.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective points to a potential upside of 13.42% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. increased their target price on Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Jefferies Financial Group cut Bloom Energy from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $15.00 to $11.00 in a research report on Friday, September 6th. Piper Sandler upped their target price on shares of Bloom Energy from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. UBS Group lowered their price target on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, Bank of America upped their price objective on shares of Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.83.

Bloom Energy Price Performance

BE traded up $0.12 during trading on Wednesday, reaching $10.58. 321,311 shares of the stock were exchanged, compared to its average volume of 5,802,734. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $18.14. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -7.84 and a beta of 2.69. The business’s 50 day moving average price is $10.86 and its two-hundred day moving average price is $12.19. The company has a debt-to-equity ratio of 3.43, a current ratio of 4.65 and a quick ratio of 3.33.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). The firm 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 firm’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.32) EPS. As a group, equities research analysts anticipate that Bloom Energy will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Electron Capital Partners LLC increased its holdings in Bloom Energy by 131.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after purchasing an additional 1,790,733 shares during the last quarter. Artemis Investment Management LLP bought a new position in Bloom Energy during the 2nd quarter valued at $7,502,000. DigitalBridge Group Inc. grew its holdings in Bloom Energy by 66.3% during the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after acquiring an additional 462,581 shares in the last quarter. Pier Capital LLC bought a new stake in shares of Bloom Energy in the 2nd quarter worth about $5,602,000. Finally, DekaBank Deutsche Girozentrale lifted 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 purchasing an additional 446,074 shares during the last quarter. 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.