Bloom Energy (NYSE:BE) Given New $13.00 Price Target at Susquehanna

Bloom Energy (NYSE:BE) had its price objective cut by Susquehanna from $16.00 to $13.00 in a research note published on Wednesday, Benzinga reports. They currently have a positive rating on the stock.

Several other equities research analysts have also issued reports on the stock. Jefferies Financial Group lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and lowered their price target for the company from $15.00 to $11.00 in a research note on Friday, September 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 price target on shares of Bloom Energy in a research note on Thursday, June 20th. 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 research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on shares of Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Finally, Bank of America lifted their price target 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 issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and a consensus price target of $15.68.

Bloom Energy Stock Performance

BE opened at $10.16 on Wednesday. The stock has a market capitalization of $2.31 billion, a P/E ratio of -7.53 and a beta of 2.69. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $18.14. The firm’s fifty day simple moving average is $10.83 and its 200 day simple moving average is $12.15. The company has a current ratio of 4.65, a quick ratio of 3.33 and a debt-to-equity ratio of 3.43.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Xponance Inc. grew its stake in Bloom Energy by 7.8% in the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company’s stock valued at $154,000 after buying an additional 903 shares during the last quarter. Arizona State Retirement System boosted its holdings in Bloom Energy by 2.7% in the 2nd quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock valued at $696,000 after purchasing an additional 1,470 shares during the period. Tocqueville Asset Management L.P. boosted its holdings in Bloom Energy by 3.1% in the 1st quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company’s stock valued at $666,000 after purchasing an additional 1,800 shares during the period. ProShare Advisors LLC boosted its holdings in Bloom Energy by 6.2% in the 1st quarter. ProShare Advisors LLC now owns 46,518 shares of the company’s stock valued at $523,000 after purchasing an additional 2,719 shares during the period. Finally, BNP Paribas bought a new stake in Bloom Energy in the 1st quarter valued at about $38,000. Institutional investors and hedge funds 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.