Bloom Energy Co. (NYSE:BE) Receives $24.29 Average PT from Analysts

Bloom Energy Co. (NYSE:BE) has been assigned a consensus rating of “Moderate Buy” from the twenty-two research firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, nine have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $23.24.

A number of analysts recently issued reports on BE shares. TD Cowen raised their price target on Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, February 28th. Susquehanna cut their price target on shares of Bloom Energy from $33.00 to $26.00 and set a “positive” rating on the stock in a report on Monday. Mizuho began coverage on shares of Bloom Energy in a research note on Tuesday, March 18th. They issued a “neutral” rating and a $28.00 price objective for the company. Redburn Atlantic downgraded Bloom Energy from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $14.50 to $10.00 in a report on Wednesday, April 9th. Finally, Jefferies Financial Group decreased their price target on Bloom Energy from $25.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday.

Insiders Place Their Bets

In related news, insider Satish Chitoori sold 1,020 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BE. GAMMA Investing LLC grew its holdings in shares of Bloom Energy by 26.8% during the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after buying an additional 569 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Bloom Energy by 1.3% in the fourth quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock valued at $1,324,000 after purchasing an additional 759 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Bloom Energy by 120.5% in the fourth 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. Smartleaf Asset Management LLC lifted its holdings 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 during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Bloom Energy by 2.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 47,400 shares of the company’s stock valued at $1,053,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Trading Down 2.6 %

BE opened at $17.84 on Thursday. Bloom Energy has a 12 month low of $9.02 and a 12 month high of $29.83. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The stock has a 50-day moving average of $22.17 and a 200 day moving average of $20.45. The firm has a market cap of $4.11 billion, a P/E ratio of -31.86 and a beta of 3.27.

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.