Roth Mkm Issues Pessimistic Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its price objective lowered by stock analysts at Roth Mkm from $26.00 to $20.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Roth Mkm’s price target would suggest a potential upside of 17.44% from the company’s current price.

A number of other brokerages also recently commented on BE. Piper Sandler lowered their target price on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. TD Cowen upped their price objective on Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, February 28th. Truist Financial raised their target price on Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Bloom Energy in a report on Tuesday, April 1st. Finally, Morgan Stanley raised their price objective on shares of Bloom Energy from $28.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.13.

Bloom Energy Stock Down 4.5 %

Shares of Bloom Energy stock opened at $17.03 on Wednesday. Bloom Energy has a 52-week low of $9.02 and a 52-week high of $29.83. The company has a 50 day moving average of $22.00 and a 200 day moving average of $20.50. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The company has a market capitalization of $3.92 billion, a P/E ratio of -30.41 and a beta of 3.27.

Insider Buying and Selling at Bloom Energy

In other news, insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction 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 sale, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BE. Mainstream Capital Management LLC acquired a new stake in Bloom Energy in the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC raised its stake in shares of Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after buying an additional 934 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after buying an additional 812 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Bloom Energy in the third quarter valued at approximately $34,000. Finally, Quarry LP acquired a new position in Bloom Energy during the fourth quarter worth $35,000. 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.