Piper Sandler Issues Pessimistic Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its target price lowered by Piper Sandler from $31.00 to $26.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages have also recently weighed in on BE. HSBC upgraded Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Tuesday, April 8th. Robert W. Baird lowered their price target on Bloom Energy from $32.00 to $27.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Hsbc Global Res raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Royal Bank of Canada set a $26.00 target price on shares of Bloom Energy in a research note on Monday, April 14th. Finally, Susquehanna dropped their price target on shares of Bloom Energy from $33.00 to $26.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bloom Energy currently has an average rating of “Moderate Buy” and a consensus target price of $22.34.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $16.41 on Monday. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -29.30 and a beta of 3.25. Bloom Energy has a one year low of $9.02 and a one year high of $29.83. The stock’s 50-day moving average is $20.34 and its 200-day moving average is $21.24.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.10. Bloom Energy had a negative net margin of 10.29% and a negative return on equity of 20.32%. The company had revenue of $326.02 million during the quarter, compared to analysts’ expectations of $294.27 million. During the same period last year, the business earned ($0.17) EPS. The business’s quarterly revenue was up 38.5% on a year-over-year basis. Equities analysts predict that Bloom Energy will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction on Monday, March 17th. The stock was 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. The trade was a 0.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

A number of large investors have recently bought and sold shares of BE. Mainstream Capital Management LLC acquired a new stake in shares of Bloom Energy during the 4th quarter worth approximately $28,000. Smartleaf Asset Management LLC grew its position in Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after acquiring an additional 934 shares during the last quarter. Jones Financial Companies Lllp grew its position in Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after acquiring an additional 812 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Bloom Energy during the third quarter worth about $34,000. Finally, Quarry LP bought a new position in shares of Bloom Energy in the fourth quarter worth about $35,000. 77.04% of the stock is currently 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.