Bloom Energy (NYSE:BE) PT Lowered to $13.00 at Susquehanna

Bloom Energy (NYSE:BE) had its target price decreased by Susquehanna from $16.00 to $13.00 in a report published on Wednesday morning, Benzinga reports. Susquehanna currently has a positive rating on the stock.

Several other analysts have also weighed in on the stock. UBS Group dropped their price objective on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 15th. JPMorgan Chase & Co. raised their price target on shares of Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Jefferies Financial Group lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and lowered their price target for the company from $15.00 to $11.00 in a report on Friday, September 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $15.00 price target on shares of Bloom Energy in a report on Thursday, June 20th. Finally, Piper Sandler raised their price target on shares of Bloom Energy from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Bloom Energy has a consensus rating of “Hold” and an average price target of $15.68.

Bloom Energy Price Performance

Shares of BE opened at $10.16 on Wednesday. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of -7.53 and a beta of 2.69. The company has a quick ratio of 3.33, a current ratio of 4.65 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 50-day moving average price of $10.83 and a two-hundred day moving average price of $12.15.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $335.80 million during the quarter, compared to analyst estimates of $307.73 million. Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The company’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.32) earnings per share. Equities analysts predict that Bloom Energy will post -0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Xponance Inc. boosted its position in shares of Bloom Energy by 7.8% during the second quarter. Xponance Inc. now owns 12,542 shares of the company’s stock worth $154,000 after purchasing an additional 903 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Bloom Energy by 2.7% during the second quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock worth $696,000 after purchasing an additional 1,470 shares in the last quarter. Tocqueville Asset Management L.P. boosted its position in shares of Bloom Energy by 3.1% during the first quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company’s stock worth $666,000 after purchasing an additional 1,800 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Bloom Energy by 6.2% during the first quarter. ProShare Advisors LLC now owns 46,518 shares of the company’s stock worth $523,000 after purchasing an additional 2,719 shares in the last quarter. Finally, BNP Paribas bought a new position in shares of Bloom Energy during the first quarter worth $38,000. 77.04% of the stock is owned by institutional investors.

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.