Truist Financial Issues Pessimistic Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE - Get Free Report) had its price objective cut by analysts at Truist Financial from $22.00 to $19.00 in a report released on Monday,Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's price target points to a potential upside of 0.26% from the company's previous close.

A number of other analysts also recently issued reports on the stock. Susquehanna reduced their price target 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. Bank of America reduced their price objective on Bloom Energy from $20.00 to $18.00 and set an "underperform" rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Jefferies Financial Group reduced their target price on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Bloom Energy in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.97.

Bloom Energy Price Performance

NYSE BE traded up $0.81 during trading hours on Monday, reaching $18.95. The company's stock had a trading volume of 5,912,165 shares, compared to its average volume of 6,752,699. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy has a 1 year low of $9.02 and a 1 year high of $29.83. The firm's 50-day moving average price is $21.11 and its 200-day moving average price is $20.79. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of -33.84 and a beta of 3.27.

Insider Activity

In other news, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction dated 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 owns 178,656 shares in the company, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 8.81% of the company's stock.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently made changes to their positions in BE. Mainstream Capital Management LLC acquired a new stake in Bloom Energy during the 4th quarter worth $28,000. Smartleaf Asset Management LLC increased 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 buying an additional 934 shares during the period. Jones Financial Companies Lllp raised 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 buying an additional 812 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Bloom Energy in the 3rd quarter worth $34,000. Finally, Quarry LP purchased a new stake in shares of Bloom Energy in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 77.04% of the company's stock.

Bloom Energy Company Profile

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.