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

Bloom Energy (NYSE:BE) had its target price reduced by Truist Financial from $13.00 to $12.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a hold rating on the stock.

A number of other research firms have also recently issued reports on BE. JPMorgan Chase & Co. boosted their target price on Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Royal Bank of Canada reissued an “outperform” rating and set a $15.00 target price on shares of Bloom Energy in a research note on Thursday, June 20th. Piper Sandler lifted their price target on shares of Bloom Energy from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. UBS Group dropped their price objective on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Bank of America upped their target price on shares of Bloom Energy from $8.00 to $9.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Bloom Energy has a consensus rating of “Hold” and a consensus target price of $15.68.

Bloom Energy Price Performance

Shares of Bloom Energy stock opened at $10.16 on Wednesday. The business has a fifty day simple moving average of $10.83 and a 200 day simple moving average of $12.16. The stock has a market cap of $2.31 billion, a PE ratio of -7.53 and a beta of 2.69. The company has a quick ratio of 3.33, a current ratio of 4.65 and a debt-to-equity ratio of 3.43. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $18.14.

Bloom Energy (NYSE:BE) last posted its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting 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 return on equity of 11.90% and a negative net margin of 21.37%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.32) EPS. Research analysts predict that Bloom Energy will post -0.25 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BE. Gruss & Co. LLC acquired a new position in Bloom Energy during the third quarter worth approximately $158,000. Wesbanco Bank Inc. boosted its stake in shares of Bloom Energy by 66.1% during the 3rd quarter. Wesbanco Bank Inc. now owns 103,000 shares of the company’s stock worth $1,088,000 after acquiring an additional 41,000 shares during the period. Artemis Investment Management LLP increased its holdings in shares of Bloom Energy by 20.5% during the 3rd quarter. Artemis Investment Management LLP now owns 738,673 shares of the company’s stock worth $7,800,000 after acquiring an additional 125,757 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Bloom Energy in the 2nd quarter valued at $215,000. Finally, Creative Planning lifted its holdings in Bloom Energy by 31.5% during the 2nd quarter. Creative Planning now owns 34,394 shares of the company’s stock valued at $421,000 after purchasing an additional 8,244 shares during the last quarter. 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.