Robert W. Baird Has Lowered Expectations for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE - Free Report) had its price target lowered by Robert W. Baird from $32.00 to $27.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

BE has been the subject of several other reports. BMO Capital Markets reaffirmed a "market perform" rating on shares of Bloom Energy in a report on Friday, February 28th. HSBC upgraded shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 target price for the company in a research report on Tuesday, April 8th. Truist Financial raised their target price on Bloom Energy from $11.00 to $22.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. TD Cowen boosted their price target on Bloom Energy from $13.00 to $20.00 and gave the stock a "hold" rating in a research report on Friday, February 28th. Finally, Royal Bank of Canada reiterated an "outperform" rating on shares of Bloom Energy in a report on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $23.13.

Bloom Energy Stock Down 4.5 %

BE stock traded down $0.80 during mid-day trading on Tuesday, hitting $17.03. 6,155,342 shares of the company were exchanged, compared to its average volume of 6,804,291. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. Bloom Energy has a twelve month low of $9.02 and a twelve month high of $29.83. The firm has a fifty day simple moving average of $21.85 and a 200 day simple moving average of $20.55. The company has a market capitalization of $3.92 billion, a PE ratio of -30.41 and a beta of 3.27.

Insider Buying and Selling at Bloom Energy

In other news, insider Satish Chitoori sold 1,020 shares of the business'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 transaction of $25,591.80. Following the sale, the insider now directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. The trade was a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 8.81% of the company's stock.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors have recently bought and sold shares of the business. Mainstream Capital Management LLC bought a new position in shares of Bloom Energy during the 4th quarter worth about $28,000. Smartleaf Asset Management LLC lifted its stake in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after purchasing an additional 934 shares during the period. Jones Financial Companies Lllp boosted its holdings in Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock valued at $33,000 after purchasing an additional 812 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Bloom Energy in the 3rd quarter valued at approximately $34,000. Finally, Quarry LP acquired a new position in shares of Bloom Energy in the 4th quarter worth approximately $35,000. 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.