Bloom Energy (NYSE:BE) Price Target Lowered to $7.00 at Bank of America

Bloom Energy (NYSE:BE) had its price target cut by Bank of America from $8.00 to $7.00 in a research report released on Thursday,Benzinga reports. They currently have an underperform rating on the stock.

BE has been the topic of a number of other research reports. Jefferies Financial Group downgraded Bloom Energy from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $15.00 to $11.00 in a research note on Friday, September 6th. Piper Sandler restated a “neutral” rating and set a $10.00 price objective (down previously from $11.00) on shares of Bloom Energy in a report on Tuesday, October 29th. Truist Financial dropped their price objective on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Finally, Susquehanna decreased their price objective on Bloom Energy from $16.00 to $13.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Bloom Energy has an average rating of “Hold” and a consensus price target of $14.92.

Bloom Energy Trading Up 23.4 %

NYSE:BE opened at $13.17 on Thursday. The company has a current ratio of 4.65, a quick ratio of 3.33 and a debt-to-equity ratio of 3.43. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $18.14. The company has a market cap of $3.00 billion, a PE ratio of -23.52 and a beta of 2.71. The company has a 50 day simple moving average of $10.42 and a two-hundred day simple moving average of $12.11.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $307.73 million. During the same quarter in the previous year, the firm posted ($0.32) EPS. The company’s revenue for the quarter 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 year.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds have recently bought and sold shares of the business. ORG Partners LLC purchased a new position in shares of Bloom Energy in the second quarter valued at approximately $40,000. Quest Partners LLC boosted its holdings in Bloom Energy by 2,780.0% in the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after purchasing an additional 3,475 shares during the period. Gilliland Jeter Wealth Management LLC purchased a new position in Bloom Energy in the second quarter valued at $53,000. Mather Group LLC. purchased a new position in Bloom Energy in the second quarter valued at $66,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in Bloom Energy during the 3rd quarter worth about $74,000. Hedge funds and other 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.