Bloom Energy (NYSE:BE) Cut to "Hold" at Hsbc Global Res

Key Points

• Bloom Energy has been downgraded from a "strong-buy" to a "hold" rating by Hsbc Global Res, reflecting a shift in analyst sentiment.
• Despite the downgrade, other analysts have given mixed ratings, with target price estimates ranging from $21 to $90, indicating varying levels of confidence in the company's future performance.
• The company's quarterly earnings showed a significant year-over-year revenue increase of 19.5%, reporting $401.24 million, and exceeded consensus earnings estimates.

Bloom Energy (NYSE:BE - Get Free Report) was downgraded by Hsbc Global Res from a "strong-buy" rating to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Susquehanna lifted their target price on shares of Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a research note on Monday, July 21st. Bank of America lifted their target price on shares of Bloom Energy from $21.00 to $24.00 and gave the stock an "underperform" rating in a research note on Tuesday, September 23rd. JPMorgan Chase & Co. lifted their target price on shares of Bloom Energy from $40.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, October 2nd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Bloom Energy in a research note on Wednesday. Finally, Wells Fargo & Company lifted their target price on shares of Bloom Energy from $38.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Friday, September 12th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $50.38.

Bloom Energy Stock Performance

NYSE:BE opened at $86.67 on Thursday. The company's 50-day moving average price is $60.58 and its 200-day moving average price is $34.95. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. The company has a market cap of $20.28 billion, a P/E ratio of 2,167.29, a P/E/G ratio of 138.92 and a beta of 3.48. Bloom Energy has a twelve month low of $9.02 and a twelve month high of $95.69.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.08. The firm had revenue of $401.24 million for the quarter, compared to the consensus estimate of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The company's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the firm posted ($0.06) earnings per share. Bloom Energy has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Bloom Energy will post -0.23 earnings per share for the current fiscal year.

Insider Transactions at Bloom Energy

In related news, insider Aman Joshi sold 4,870 shares of Bloom Energy stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $43.36, for a total value of $211,163.20. Following the completion of the transaction, the insider owned 224,361 shares in the company, valued at approximately $9,728,292.96. The trade was a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shawn Marie Soderberg sold 45,000 shares of Bloom Energy stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $43.31, for a total transaction of $1,948,950.00. Following the completion of the transaction, the insider owned 229,682 shares of the company's stock, valued at $9,947,527.42. This trade represents a 16.38% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 302,205 shares of company stock valued at $14,919,283. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Prospera Financial Services Inc lifted its stake in Bloom Energy by 0.3% in the second quarter. Prospera Financial Services Inc now owns 95,532 shares of the company's stock worth $2,285,000 after acquiring an additional 313 shares during the last quarter. GAMMA Investing LLC lifted its stake in Bloom Energy by 14.1% in the third quarter. GAMMA Investing LLC now owns 2,708 shares of the company's stock worth $229,000 after acquiring an additional 335 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Bloom Energy by 2.1% in the second quarter. Ameritas Investment Partners Inc. now owns 20,917 shares of the company's stock worth $500,000 after acquiring an additional 425 shares during the last quarter. Blair William & Co. IL lifted its stake in Bloom Energy by 2.8% in the second quarter. Blair William & Co. IL now owns 16,246 shares of the company's stock worth $389,000 after acquiring an additional 437 shares during the last quarter. Finally, CWM LLC lifted its stake in Bloom Energy by 23.7% in the first quarter. CWM LLC now owns 3,360 shares of the company's stock worth $66,000 after acquiring an additional 644 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.

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