Robert W. Baird Issues Pessimistic Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its price objective cut by Robert W. Baird from $18.00 to $15.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 13.90% from the stock’s previous close.

Several other research firms have also weighed in on BE. Susquehanna cut their target price on shares of Bloom Energy from $16.00 to $13.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. Bank of America decreased their price objective on shares of Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. UBS Group dropped 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. Finally, Truist Financial lowered their price objective on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $14.92.

Bloom Energy Stock Performance

NYSE:BE opened at $13.17 on Friday. Bloom Energy has a 12-month low of $8.41 and a 12-month high of $18.14. 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 firm has a market capitalization of $3.00 billion, a PE ratio of -23.52 and a beta of 2.71. The firm has a 50-day moving average price of $10.42 and a 200 day moving average price of $12.11.

Bloom Energy (NYSE:BE) last released its quarterly earnings results 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 prior year, the firm earned ($0.32) earnings per share. Bloom Energy’s revenue was up 11.5% compared to the same quarter last year. Research analysts anticipate that Bloom Energy will post -0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. GSA Capital Partners LLP lifted its position in shares of Bloom Energy by 85.5% during the first quarter. GSA Capital Partners LLP now owns 60,168 shares of the company’s stock valued at $676,000 after purchasing an additional 27,734 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Bloom Energy by 41.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 75,995 shares of the company’s stock worth $854,000 after acquiring an additional 22,369 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Bloom Energy in the 1st quarter worth approximately $2,639,000. Russell Investments Group Ltd. raised its holdings in Bloom Energy by 99,266.7% during the 1st quarter. Russell Investments Group Ltd. now owns 146,069 shares of the company’s stock valued at $1,642,000 after buying an additional 145,922 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in Bloom Energy by 6.2% during the 1st quarter. ProShare Advisors LLC now owns 46,518 shares of the company’s stock valued at $523,000 after buying an additional 2,719 shares during the last quarter. 77.04% of the stock is owned by institutional investors.

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.