Brokerages Set Bloom Energy Co. (NYSE:BE) PT at $22.71

Shares of Bloom Energy Co. (NYSE:BE - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twenty-two brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $22.34.

A number of research firms have issued reports on BE. Susquehanna reduced their target price on shares of Bloom Energy from $33.00 to $26.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Jefferies Financial Group decreased their target price on Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Piper Sandler lowered their price objective on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday. Truist Financial reduced their target price on shares of Bloom Energy from $22.00 to $19.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Bloom Energy in a report on Friday, February 28th.

Bloom Energy Trading Up 1.4 %

NYSE:BE traded up $0.23 during trading hours on Monday, reaching $16.57. 5,910,451 shares of the stock were exchanged, compared to its average volume of 6,809,876. Bloom Energy has a twelve month low of $9.02 and a twelve month high of $29.83. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The business has a 50-day moving average of $20.21 and a two-hundred day moving average of $21.20. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of -29.59 and a beta of 3.25.

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

Insiders Place Their Bets

In related news, insider Satish Chitoori sold 1,020 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the transaction, the insider now directly owns 178,656 shares of the company's stock, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Bloom Energy

A number of large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in Bloom Energy by 26.8% in the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company's stock valued at $60,000 after buying an additional 569 shares in the last quarter. CWM LLC lifted its position in shares of Bloom Energy by 23.7% in the first quarter. CWM LLC now owns 3,360 shares of the company's stock valued at $66,000 after acquiring an additional 644 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Bloom Energy by 1.3% during the fourth quarter. Arizona State Retirement System now owns 59,592 shares of the company's stock valued at $1,324,000 after acquiring an additional 759 shares during the last quarter. Jones Financial Companies Lllp increased its position in Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock worth $33,000 after purchasing an additional 812 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock valued at $28,000 after purchasing an additional 934 shares during the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

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.