Bloom Energy (NYSE:BE) Price Target Raised to $13.00

Bloom Energy (NYSE:BE - Get Free Report) had its price target lifted by investment analysts at TD Cowen from $10.00 to $13.00 in a report issued on Friday, MarketBeat Ratings reports. The firm currently has a "hold" rating on the stock. TD Cowen's price objective points to a potential upside of 16.59% from the company's current price.

BE has been the topic of several other research reports. Truist Financial raised Bloom Energy from a "sell" rating to a "hold" rating and upped their price target for the company from $9.00 to $11.00 in a research note on Wednesday, March 6th. JPMorgan Chase & Co. cut shares of Bloom Energy from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $19.00 to $14.00 in a research report on Friday, February 16th. Piper Sandler cut their price objective on shares of Bloom Energy from $14.00 to $11.00 and set a "neutral" rating on the stock in a report on Friday, February 16th. Raymond James lowered their target price on shares of Bloom Energy from $20.00 to $16.00 and set an "outperform" rating for the company in a report on Friday, February 16th. Finally, Royal Bank of Canada reduced their price target on Bloom Energy from $21.00 to $14.00 and set an "outperform" rating on the stock in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $16.45.

Bloom Energy Price Performance

Shares of NYSE BE traded down $0.59 during mid-day trading on Friday, hitting $11.15. 11,538,448 shares of the stock were exchanged, compared to its average volume of 5,590,358. The company has a market cap of $2.51 billion, a P/E ratio of -7.69 and a beta of 2.77. The company has a debt-to-equity ratio of 2.41, a quick ratio of 2.53 and a current ratio of 3.60. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $18.76. The stock's fifty day simple moving average is $10.59 and its two-hundred day simple moving average is $11.66.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.09). Bloom Energy had a negative return on equity of 23.88% and a negative net margin of 22.66%. The business had revenue of $235.30 million during the quarter, compared to analyst estimates of $254.06 million. As a group, analysts forecast that Bloom Energy will post -0.16 EPS for the current fiscal year.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, EVP Shawn Marie Soderberg sold 13,120 shares of the company's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $9.34, for a total transaction of $122,540.80. Following the completion of the transaction, the executive vice president now owns 73,946 shares of the company's stock, valued at approximately $690,655.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Shawn Marie Soderberg sold 13,120 shares of the firm's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $9.34, for a total value of $122,540.80. Following the completion of the transaction, the executive vice president now owns 73,946 shares in the company, valued at approximately $690,655.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kr Sridhar sold 50,746 shares of Bloom Energy stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $9.74, for a total value of $494,266.04. Following the completion of the sale, the chief executive officer now directly owns 2,702,608 shares in the company, valued at approximately $26,323,401.92. The disclosure for this sale can be found here. Insiders have sold 74,989 shares of company stock valued at $725,292 in the last 90 days. 8.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently made changes to their positions in BE. Vanguard Group Inc. lifted its position in shares of Bloom Energy by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company's stock valued at $221,262,000 after buying an additional 156,434 shares during the last quarter. Mizuho Markets Americas LLC raised its position in shares of Bloom Energy by 10.3% in the first quarter. Mizuho Markets Americas LLC now owns 429,401 shares of the company's stock valued at $4,826,000 after purchasing an additional 40,050 shares during the period. Tocqueville Asset Management L.P. lifted its stake in shares of Bloom Energy by 3.1% during the 1st quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company's stock worth $666,000 after buying an additional 1,800 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Bloom Energy by 3.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 92,675 shares of the company's stock worth $1,042,000 after buying an additional 3,499 shares during the period. Finally, ProShare Advisors LLC raised its holdings in Bloom Energy by 6.2% in the 1st quarter. ProShare Advisors LLC now owns 46,518 shares of the company's stock valued at $523,000 after acquiring an additional 2,719 shares during the period. 77.04% of the stock is owned by institutional investors.

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.