Hsbc Global Res Downgrades Bloom Energy (NYSE:BE) to Hold

Bloom Energy (NYSE:BE) was downgraded by analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other equities analysts have also weighed in on BE. Royal Bank Of Canada set a $75.00 target price on Bloom Energy in a research note on Tuesday, September 30th. Zacks Research upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Roth Capital increased their target price on Bloom Energy from $34.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, September 19th. JPMorgan Chase & Co. increased their target price on Bloom Energy from $40.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Finally, Mizuho downgraded shares of Bloom Energy from an “outperform” rating to a “neutral” rating and upped their price target for the company from $48.00 to $79.00 in a research note on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $50.38.

Bloom Energy Stock Performance

Shares of NYSE BE opened at $86.93 on Thursday. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. Bloom Energy has a 12 month low of $9.02 and a 12 month high of $95.69. The stock has a 50 day moving average of $61.58 and a 200-day moving average of $35.39. The company has a market capitalization of $20.34 billion, a P/E ratio of 2,173.79, a P/E/G ratio of 137.44 and a beta of 3.48.

Bloom Energy (NYSE:BE) last posted its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.08. The company had revenue of $401.24 million during the quarter, compared to analysts’ expectations of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. Bloom Energy’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Bloom Energy will post -0.23 EPS for the current year.

Insiders Place Their Bets

In related news, insider Satish Chitoori sold 20,000 shares of Bloom Energy stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $45.00, for a total value of $900,000.00. Following the transaction, the insider directly owned 234,493 shares of the company’s stock, valued at $10,552,185. This trade represents a 7.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Maciej Kurzymski sold 2,474 shares of Bloom Energy stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $70.47, for a total transaction of $174,342.78. Following the completion of the transaction, the insider directly owned 106,374 shares in the company, valued at $7,496,175.78. This trade represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 302,205 shares of company stock valued at $14,919,283 over the last 90 days. 3.60% of the stock is owned by company insiders.

Institutional Trading of Bloom Energy

Large investors have recently bought and sold shares of the business. Banque Transatlantique SA boosted its stake in Bloom Energy by 227.6% in the first quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock valued at $30,000 after buying an additional 1,161 shares in the last quarter. Harbour Investments Inc. lifted its stake in Bloom Energy by 2,160.0% in the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company’s stock valued at $31,000 after purchasing an additional 1,512 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in Bloom Energy in the 2nd quarter valued at approximately $36,000. NewEdge Advisors LLC lifted its stake in Bloom Energy by 674.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock valued at $37,000 after purchasing an additional 1,626 shares during the last quarter. Finally, Vision Financial Markets LLC bought a new position in Bloom Energy in the 1st quarter valued at approximately $39,000. 77.04% of the stock is owned by institutional investors and hedge funds.

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.