Bloom Energy Co. (NYSE:BE) Receives $22.97 Average Target Price from Analysts

Bloom Energy Co. (NYSE:BE - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twenty ratings firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, nine have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $22.97.

A number of equities research analysts recently commented on BE shares. BMO Capital Markets reaffirmed a "market perform" rating on shares of Bloom Energy in a research note on Friday, February 28th. Piper Sandler decreased their price objective on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Mizuho raised Bloom Energy from a "neutral" rating to an "outperform" rating and decreased their target price for the company from $28.00 to $26.00 in a research note on Monday, May 5th. Robert W. Baird decreased their target price on Bloom Energy from $32.00 to $27.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Finally, Royal Bank of Canada set a $26.00 target price on Bloom Energy in a research note on Monday, April 14th.

Bloom Energy Trading Down 0.5%

NYSE:BE traded down $0.09 on Friday, hitting $18.48. 3,322,743 shares of the stock were exchanged, compared to its average volume of 6,503,503. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. Bloom Energy has a 52 week low of $9.02 and a 52 week high of $29.83. The company's 50-day moving average price is $18.44 and its 200 day moving average price is $22.21. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of -33.00 and a beta of 3.25.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.10. Bloom Energy had a negative return on equity of 20.32% and a negative net margin of 10.29%. The business had revenue of $326.02 million during the quarter, compared to analysts' expectations of $294.27 million. During the same period in the previous year, the firm earned ($0.17) earnings per share. The firm's quarterly revenue was up 38.5% compared to the same quarter last year. On average, equities research analysts forecast that Bloom Energy will post -0.23 earnings per share for the current year.

Insider Activity

In related news, insider Aman Joshi sold 4,658 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total transaction of $91,855.76. Following the sale, the insider now owns 131,371 shares in the company, valued at approximately $2,590,636.12. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,496 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $19.89, for a total value of $29,755.44. Following the sale, the insider now owns 229,682 shares in the company, valued at $4,568,374.98. The trade was a 0.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,375 shares of company stock worth $1,053,445 over the last three months. Corporate insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On Bloom Energy

A number of institutional investors have recently bought and sold shares of BE. Vanguard Group Inc. boosted its stake in shares of Bloom Energy by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company's stock worth $427,194,000 after acquiring an additional 356,317 shares during the period. Norges Bank bought a new position in Bloom Energy during the fourth quarter worth $93,951,000. Public Investment Fund increased its holdings in shares of Bloom Energy by 16.8% in the first quarter. Public Investment Fund now owns 3,803,770 shares of the company's stock valued at $74,782,000 after purchasing an additional 546,372 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of Bloom Energy by 29.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company's stock valued at $71,010,000 after purchasing an additional 821,814 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Bloom Energy by 50.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company's stock worth $49,127,000 after buying an additional 836,810 shares during the last quarter. 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.