Bloom Energy Co. (NYSE:BE) Receives $15.68 Average Price Target from Analysts

Shares of Bloom Energy Co. (NYSE:BE) have been assigned a consensus recommendation of “Hold” from the nineteen analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $15.45.

BE has been the subject of a number of analyst reports. Susquehanna decreased their target price on shares of Bloom Energy from $16.00 to $13.00 and set a “positive” rating for the company in a research report on Wednesday, October 16th. UBS Group decreased their target price on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Bank of America increased their target price on shares of Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Piper Sandler increased their target price on shares of Bloom Energy from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th.

Bloom Energy Price Performance

NYSE BE opened at $9.04 on Thursday. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. The firm’s 50 day moving average price is $10.72 and its 200-day moving average price is $12.11. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $18.14. The company has a market cap of $2.05 billion, a PE ratio of -6.70 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) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The firm had revenue of $335.80 million for the quarter, compared to the consensus estimate of $307.73 million. During the same period last year, the firm earned ($0.32) earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Sell-side analysts forecast that Bloom Energy will post -0.25 EPS for the current fiscal year.

Institutional Trading of Bloom Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Bloom Energy by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after buying an additional 156,434 shares during the period. Electron Capital Partners LLC grew its position in Bloom Energy by 131.5% during the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after buying an additional 1,790,733 shares during the period. DigitalBridge Group Inc. grew its position in Bloom Energy by 66.3% during the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after buying an additional 462,581 shares during the period. Van ECK Associates Corp grew its position in Bloom Energy by 19.2% during the first quarter. Van ECK Associates Corp now owns 1,012,547 shares of the company’s stock valued at $11,381,000 after buying an additional 162,968 shares during the period. Finally, Pinnacle Associates Ltd. grew its position in Bloom Energy by 48.6% during the second quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock valued at $10,644,000 after buying an additional 284,298 shares during the period. 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.