Piper Sandler Reaffirms Neutral Rating for Bloom Energy (NYSE:BE)

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

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

Bloom Energy Trading Up 3.8 %

NYSE BE opened at $9.96 on Tuesday. The stock’s 50 day moving average is $10.50 and its 200 day moving average is $12.04. The company has a quick ratio of 3.33, a current ratio of 4.65 and a debt-to-equity ratio of 3.43. The firm has a market capitalization of $2.27 billion, a PE ratio of -7.66 and a beta of 2.69. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $18.14.

Bloom Energy (NYSE:BE) last released its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The firm had revenue of $335.80 million for the quarter, compared to the consensus estimate of $307.73 million. During the same period in the prior year, the firm earned ($0.32) EPS. The company’s revenue was up 11.5% compared to the same quarter last year. Research analysts forecast that Bloom Energy will post -0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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