Truist Financial Trims Bloom Energy (NYSE:BE) Target Price to $12.00

Bloom Energy (NYSE:BE) had its price target decreased by Truist Financial from $13.00 to $12.00 in a research note released on Wednesday, Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other equities research analysts also recently commented on BE. Piper Sandler lifted their price objective on Bloom Energy from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Bank of America lifted their target price on Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. UBS Group reduced their target price on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 target price on shares of Bloom Energy in a report on Thursday, June 20th. Finally, JPMorgan Chase & Co. lifted their target price on Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Bloom Energy presently has an average rating of “Hold” and a consensus price target of $15.68.

Bloom Energy Price Performance

Shares of NYSE:BE opened at $10.16 on Wednesday. The company has a market cap of $2.31 billion, a P/E 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 52 week low of $8.41 and a 52 week high of $18.14. The business has a fifty day simple moving average of $10.83 and a 200-day simple moving average of $12.15.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BE. Vanguard Group Inc. lifted its stake in shares of Bloom Energy by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 19,528,801 shares of the company’s stock worth $289,026,000 after acquiring an additional 307,627 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Bloom Energy by 16.2% in the first quarter. Principal Financial Group Inc. now owns 25,916 shares of the company’s stock valued at $291,000 after buying an additional 3,622 shares during the last quarter. Van ECK Associates Corp increased its holdings in Bloom Energy by 19.2% in the first quarter. Van ECK Associates Corp now owns 1,012,547 shares of the company’s stock valued at $11,381,000 after buying an additional 162,968 shares during the last quarter. Iridian Asset Management LLC CT increased its holdings in Bloom Energy by 44.4% in the first quarter. Iridian Asset Management LLC CT now owns 62,951 shares of the company’s stock valued at $708,000 after buying an additional 19,353 shares during the last quarter. Finally, BNP Paribas bought a new stake in Bloom Energy in the first quarter valued at about $38,000. Institutional investors and hedge funds 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.