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

Bloom Energy (NYSE:BE) had its price objective reduced by analysts at Susquehanna from $16.00 to $13.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s price target would indicate a potential upside of 24.28% from the company’s current price.

Other research analysts have also issued research reports about the company. UBS Group cut their price objective on Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $15.00 price target on shares of Bloom Energy in a research note on Thursday, June 20th. Truist Financial lowered their price objective on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday. Bank of America upped their target price on shares of Bloom Energy from $8.00 to $9.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Finally, Jefferies Financial Group downgraded 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 research report on Friday, September 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Bloom Energy currently has a consensus rating of “Hold” and a consensus target price of $15.68.

Bloom Energy Price Performance

BE remained flat at $10.46 during trading on Wednesday. The company had a trading volume of 850,940 shares, compared to its average volume of 5,805,383. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. The stock has a market cap of $2.37 billion, a P/E ratio of -7.77 and a beta of 2.69. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $18.14. The company has a 50-day simple moving average of $10.86 and a 200-day simple moving average of $12.19.

Bloom Energy (NYSE:BE) last posted its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $335.80 million for 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%. Bloom Energy’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.32) EPS. Equities analysts forecast that Bloom Energy will post -0.25 earnings per share for the current year.

Institutional Investors Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Xponance Inc. raised its holdings in Bloom Energy by 7.8% in 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 lifted its position in Bloom Energy by 2.7% during the 2nd quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock valued at $696,000 after acquiring an additional 1,470 shares during the period. Tocqueville Asset Management L.P. grew its holdings in Bloom Energy by 3.1% in 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 during the period. ProShare Advisors LLC increased its stake 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 valued at $523,000 after purchasing an additional 2,719 shares in the last quarter. Finally, BNP Paribas purchased a new position in shares of Bloom Energy during the first quarter valued at approximately $38,000. 77.04% of the stock is currently owned by institutional investors.

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.