Bloom Energy (NYSE:BE) Price Target Cut to $12.00 by Analysts at Truist Financial

Bloom Energy (NYSE:BE) had its target price lowered by Truist Financial from $13.00 to $12.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other research firms also recently weighed in on BE. UBS Group decreased their price target on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Jefferies Financial Group cut shares of Bloom Energy from a “buy” rating to a “hold” rating and lowered their target price for the company from $15.00 to $11.00 in a research note on Friday, September 6th. JPMorgan Chase & Co. raised their price target on shares of Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 price objective on shares of Bloom Energy in a research note on Thursday, June 20th. Finally, Bank of America boosted their price target on Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $15.68.

Bloom Energy Stock Performance

NYSE:BE opened at $10.41 on Wednesday. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. The firm’s 50-day moving average is $10.87 and its 200-day moving average is $12.18. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $18.14. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -7.71 and a beta of 2.69.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The firm had revenue of $335.80 million for the quarter, compared to analyst estimates of $307.73 million. During the same period in the previous year, the company posted ($0.32) earnings per share. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. Equities research analysts anticipate that Bloom Energy will post -0.25 earnings per share for the current year.

Institutional Trading of Bloom Energy

A number of hedge funds and other institutional investors have recently modified their holdings of BE. Electron Capital Partners LLC increased its position in Bloom Energy by 131.5% in the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after purchasing an additional 1,790,733 shares during the period. Artemis Investment Management LLP bought a new stake in shares of Bloom Energy during the second quarter worth approximately $7,502,000. DigitalBridge Group Inc. lifted its holdings in Bloom Energy by 66.3% in the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after buying an additional 462,581 shares during the period. Pier Capital LLC bought a new position in Bloom Energy in the second quarter valued at approximately $5,602,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in Bloom Energy by 762.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 504,591 shares of the company’s stock worth $5,712,000 after acquiring an additional 446,074 shares during the period. 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.