Bloom Energy Co. (NYSE:BE – Get Rating)’s stock price was down 10.7% during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $25.00 to $21.00. Morgan Stanley currently has an equal weight rating on the stock. Bloom Energy traded as low as $15.20 and last traded at $15.22. Approximately 45,894 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 3,731,357 shares. The stock had previously closed at $17.05.
Other equities analysts have also issued research reports about the stock. KeyCorp restated an “overweight” rating and set a $30.00 target price on shares of Bloom Energy in a report on Thursday, June 2nd. Truist Financial boosted their price objective on shares of Bloom Energy to $19.00 in a research report on Friday, May 27th. Piper Sandler started coverage on shares of Bloom Energy in a research note on Wednesday, June 8th. They set a “hold” rating and a $20.00 target price for the company. Susquehanna Bancshares reduced their target price on shares of Bloom Energy from $33.00 to $28.00 in a research note on Tuesday, May 10th. Finally, Susquehanna reduced their price target on shares of Bloom Energy from $33.00 to $28.00 in a research note on Tuesday, May 10th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bloom Energy presently has a consensus rating of “Buy” and an average target price of $25.55.
In other Bloom Energy news, EVP Swaminathan Venkataraman sold 2,338 shares of the stock in a transaction dated Friday, March 18th. The shares were sold at an average price of $23.94, for a total transaction of $55,971.72. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kr Sridhar sold 10,823 shares of the stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $21.40, for a total transaction of $231,612.20. The disclosure for this sale can be found here. Insiders sold 90,437 shares of company stock worth $1,939,871 over the last three months. Insiders own 2.78% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Allworth Financial LP bought a new position in Bloom Energy in the 1st quarter valued at approximately $32,000. Neo Ivy Capital Management purchased a new position in Bloom Energy during the 4th quarter worth $38,000. Millburn Ridgefield Corp boosted its holdings in Bloom Energy by 209.3% during the 1st quarter. Millburn Ridgefield Corp now owns 2,032 shares of the company’s stock worth $49,000 after acquiring an additional 1,375 shares during the last quarter. Catalyst Capital Advisors LLC boosted its holdings in Bloom Energy by 209.3% during the 1st quarter. Catalyst Capital Advisors LLC now owns 2,032 shares of the company’s stock worth $49,000 after acquiring an additional 1,375 shares during the last quarter. Finally, Psagot Value Holdings Ltd. boosted its holdings in Bloom Energy by 74.1% during the 3rd quarter. Psagot Value Holdings Ltd. now owns 2,350 shares of the company’s stock worth $44,000 after acquiring an additional 1,000 shares during the last quarter. 65.68% of the stock is owned by hedge funds and other institutional investors.
The company has a market capitalization of $2.76 billion, a P/E ratio of -11.82 and a beta of 3.39. The company has a debt-to-equity ratio of 2,524.52, a quick ratio of 1.56 and a current ratio of 2.09. The stock has a 50 day moving average price of $18.64 and a 200 day moving average price of $19.97.
Bloom Energy (NYSE:BE – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.27). Bloom Energy had a negative net margin of 22.25% and a negative return on equity of 738.94%. The company had revenue of $201.04 million for the quarter, compared to analysts’ expectations of $220.75 million. During the same period in the previous year, the firm earned ($0.17) EPS. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts expect that Bloom Energy Co. will post -0.96 earnings per share for the current year.
About Bloom Energy (NYSE:BE)
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 power generation platform that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion.