Bloom Energy (NYSE:BE) Price Target Raised to $13.00 at TD Cowen

Bloom Energy (NYSE:BE) had its target price raised by equities researchers at TD Cowen from $10.00 to $13.00 in a note issued to investors on Friday, Briefing.com reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price target would suggest a potential upside of 10.83% from the company’s previous close.

BE has been the topic of several other reports. Piper Sandler cut their price objective on shares of Bloom Energy from $14.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Raymond James dropped their price target on shares of Bloom Energy from $20.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. Evercore ISI began coverage on shares of Bloom Energy in a report on Monday, April 1st. They set an “outperform” rating and a $21.00 price target on the stock. Truist Financial raised shares of Bloom Energy from a “sell” rating to a “hold” rating and raised their price target for the company from $9.00 to $11.00 in a report on Wednesday, March 6th. Finally, Susquehanna dropped their price target on shares of Bloom Energy from $18.00 to $16.00 and set a “positive” rating on the stock in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $16.45.

Bloom Energy Stock Performance

Shares of BE stock opened at $11.73 on Friday. Bloom Energy has a one year low of $8.41 and a one year high of $18.76. The company’s 50-day moving average is $10.55 and its 200 day moving average is $11.66. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of -8.09 and a beta of 2.77. The company has a debt-to-equity ratio of 2.41, a quick ratio of 2.53 and a current ratio of 3.60.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. The firm had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $254.06 million. Sell-side analysts expect that Bloom Energy will post -0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 8,963 shares of Bloom Energy stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $9.86, for a total transaction of $88,375.18. Following the sale, the insider now owns 168,003 shares in the company, valued at $1,656,509.58. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Kr Sridhar sold 50,746 shares of Bloom Energy stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $9.74, for a total transaction of $494,266.04. Following the sale, the chief executive officer now owns 2,702,608 shares in the company, valued at $26,323,401.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Shawn Marie Soderberg sold 8,963 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $9.86, for a total transaction of $88,375.18. Following the completion of the transaction, the insider now directly owns 168,003 shares of the company’s stock, valued at $1,656,509.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,989 shares of company stock worth $725,292. Company insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mizuho Markets Americas LLC boosted its stake in Bloom Energy by 10.3% during the first quarter. Mizuho Markets Americas LLC now owns 429,401 shares of the company’s stock worth $4,826,000 after buying an additional 40,050 shares during the period. Tocqueville Asset Management L.P. boosted its stake in 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 buying an additional 1,800 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Bloom Energy by 3.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 92,675 shares of the company’s stock worth $1,042,000 after buying an additional 3,499 shares during the period. ProShare Advisors LLC boosted its stake in 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 buying an additional 2,719 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Bloom Energy by 99,266.7% during the first quarter. Russell Investments Group Ltd. now owns 146,069 shares of the company’s stock worth $1,642,000 after buying an additional 145,922 shares during the period. 77.04% of the stock is owned by hedge funds and other 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.