Bloom Energy Corporation (NYSE:BE) Given Average Recommendation of “Hold” by Brokerages

Shares of Bloom Energy Corporation (NYSE:BE) have been assigned a consensus rating of “Hold” from the twenty-three ratings firms that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $46.6250.

BE has been the topic of a number of recent research reports. Roth Capital raised their price objective on Bloom Energy from $34.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, September 19th. Mizuho lowered shares of Bloom Energy from an “outperform” rating to a “neutral” rating and increased their price target for the company from $48.00 to $79.00 in a research report on Thursday, October 2nd. UBS Group reaffirmed an “underperform” rating on shares of Bloom Energy in a research report on Wednesday, October 1st. Royal Bank Of Canada set a $75.00 price objective on shares of Bloom Energy in a research note on Tuesday, September 30th. Finally, Morgan Stanley increased their target price on shares of Bloom Energy from $35.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, August 1st.

Bloom Energy Stock Performance

Shares of BE stock opened at $87.08 on Thursday. The firm has a market cap of $20.38 billion, a price-to-earnings ratio of 2,177.54 and a beta of 3.48. Bloom Energy has a 52-week low of $9.02 and a 52-week high of $95.70. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. The company’s 50 day moving average is $57.57 and its 200 day moving average is $33.78.

Bloom Energy (NYSE:BE) last announced its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.08. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The business had revenue of $401.24 million for the quarter, compared to analysts’ expectations of $382.23 million. During the same quarter last year, the firm earned ($0.06) EPS. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Bloom Energy will post -0.23 EPS for the current fiscal year.

Insider Activity

In other news, insider Maciej Kurzymski sold 2,474 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $70.47, for a total value of $174,342.78. Following the completion of the sale, the insider owned 106,374 shares of the company’s stock, valued at $7,496,175.78. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kr Sridhar sold 37,955 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $53.39, for a total value of $2,026,417.45. Following the transaction, the chief executive officer directly owned 2,378,663 shares in the company, valued at $126,996,817.57. This represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 302,205 shares of company stock worth $14,919,283. Company insiders own 3.50% of the company’s stock.

Institutional Trading of Bloom Energy

A number of institutional investors have recently bought and sold shares of BE. Geode Capital Management LLC grew its position in Bloom Energy by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 4,756,516 shares of the company’s stock worth $113,790,000 after purchasing an additional 95,990 shares during the last quarter. Public Investment Fund grew its holdings in shares of Bloom Energy by 16.8% during the first quarter. Public Investment Fund now owns 3,803,770 shares of the company’s stock valued at $74,782,000 after buying an additional 546,372 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Bloom Energy by 29.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company’s stock valued at $71,010,000 after acquiring an additional 821,814 shares during the period. Goldman Sachs Group Inc. raised its stake in Bloom Energy by 50.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock worth $49,127,000 after acquiring an additional 836,810 shares during the last quarter. Finally, Norges Bank acquired a new stake in Bloom Energy during the 2nd quarter worth about $57,821,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

About Bloom Energy

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.