Bloom Energy (NYSE:BE - Free Report) had its price target reduced by Piper Sandler from $31.00 to $26.00 in a report issued on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.
Several other analysts also recently issued reports on the stock. BMO Capital Markets reaffirmed a "market perform" rating on shares of Bloom Energy in a report on Friday, February 28th. HSBC raised Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 target price on the stock in a research note on Tuesday, April 8th. Jefferies Financial Group cut their price target on Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Bank of America decreased 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. Finally, Mizuho upgraded shares of Bloom Energy from a "neutral" rating to an "outperform" rating and reduced their target price for the company from $28.00 to $26.00 in a report on Monday, May 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $22.34.
View Our Latest Stock Report on Bloom Energy
Bloom Energy Price Performance
Shares of BE traded up $0.34 on Monday, reaching $17.58. The stock had a trading volume of 3,469,985 shares, compared to its average volume of 6,822,711. Bloom Energy has a twelve month low of $9.02 and a twelve month high of $29.83. The firm has a market capitalization of $4.05 billion, a PE ratio of -31.39 and a beta of 3.25. The firm has a 50-day moving average of $19.83 and a 200 day moving average of $21.28. 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 (NYSE:BE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.10. Bloom Energy had a negative return on equity of 20.32% and a negative net margin of 10.29%. The business had revenue of $326.02 million during the quarter, compared to analysts' expectations of $294.27 million. During the same quarter last year, the business posted ($0.17) earnings per share. The business's revenue for the quarter was up 38.5% on a year-over-year basis. Sell-side analysts expect that Bloom Energy will post -0.23 EPS for the current year.
Insider Transactions at Bloom Energy
In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of the firm's 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.60% of the company's stock.
Institutional Investors Weigh In On Bloom Energy
A number of large investors have recently modified their holdings of BE. Smartleaf Asset Management LLC lifted its position in shares of 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 in the last quarter. Mainstream Capital Management LLC acquired a new stake in shares of Bloom Energy during the fourth quarter valued at about $28,000. Harbour Investments Inc. boosted its holdings in Bloom Energy by 2,160.0% in the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock valued at $31,000 after purchasing an additional 1,512 shares during the last quarter. Jones Financial Companies Lllp increased its holdings 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 during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Bloom Energy during the 3rd quarter valued at approximately $34,000. Institutional investors and hedge funds own 77.04% of the company's stock.
Bloom Energy Company Profile
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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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