Bloom Energy (NYSE:BE) Receives “Neutral” Rating from Piper Sandler

Piper Sandler restated their neutral rating on shares of Bloom Energy (NYSE:BE) in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a $10.00 target price on the stock, down from their previous target price of $11.00.

A number of other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. UBS Group dropped their price objective on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Jefferies Financial Group lowered Bloom Energy from a “buy” rating to a “hold” rating and reduced their target price for the company from $15.00 to $11.00 in a report on Friday, September 6th. Truist Financial lowered their price target on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. Finally, Bank of America boosted their price objective on shares of Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Bloom Energy presently has an average rating of “Hold” and a consensus target price of $15.39.

Bloom Energy Trading Up 3.8 %

NYSE:BE opened at $9.96 on Tuesday. Bloom Energy has a 52 week low of $8.41 and a 52 week high of $18.14. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -7.66 and a beta of 2.69. The firm has a 50-day moving average price of $10.50 and a two-hundred day moving average price of $12.04. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $335.80 million during the quarter, compared to analyst estimates of $307.73 million. Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.32) earnings per share. On average, equities analysts expect that Bloom Energy will post -0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bloom Energy

A number of large investors have recently added to or reduced their stakes in BE. Vanguard Group Inc. lifted its position in 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 purchasing an additional 156,434 shares during the last quarter. Electron Capital Partners LLC raised its holdings in Bloom Energy by 131.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after buying an additional 1,790,733 shares during the last quarter. DigitalBridge Group Inc. raised its holdings in Bloom Energy by 66.3% during the 2nd 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 last quarter. Van ECK Associates Corp boosted its position in Bloom Energy by 19.2% during the 1st quarter. Van ECK Associates Corp now owns 1,012,547 shares of the company’s stock valued at $11,381,000 after buying an additional 162,968 shares during the period. Finally, Pinnacle Associates Ltd. grew its holdings in Bloom Energy by 48.6% in the 2nd quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock worth $10,644,000 after acquiring an additional 284,298 shares during the last quarter. Hedge funds and other institutional investors 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.