Bank of America Has Lowered Expectations for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its price target lowered by Bank of America from $8.00 to $7.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Bank of America‘s target price would suggest a potential downside of 46.85% from the stock’s current price.

Several other equities research analysts have also issued reports on BE. Susquehanna dropped their price target 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. UBS Group dropped their price target on Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Piper Sandler reaffirmed a “neutral” rating and set a $10.00 price target (down previously from $11.00) on shares of Bloom Energy in a research note on Tuesday, October 29th. Finally, Truist Financial dropped their price target on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. One 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $14.92.

Bloom Energy Price Performance

NYSE:BE opened at $13.17 on Thursday. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -10.13 and a beta of 2.71. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $18.14. The stock has a fifty day moving average of $10.42 and a 200 day moving average of $12.10. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The company had revenue of $335.80 million during the quarter, compared to analyst estimates of $307.73 million. During the same quarter last year, the company earned ($0.32) earnings per share. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. On average, research analysts expect that Bloom Energy will post -0.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Landscape Capital Management L.L.C. purchased a new position in shares of Bloom Energy during the 3rd quarter worth approximately $698,000. Intech Investment Management LLC purchased a new position in shares of Bloom Energy during the 3rd quarter worth approximately $600,000. Advisors Asset Management Inc. grew its holdings in shares of Bloom Energy by 45.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 54,140 shares of the company’s stock worth $572,000 after acquiring an additional 16,993 shares during the period. SCP Investment LP purchased a new position in shares of Bloom Energy during the 3rd quarter worth approximately $410,000. Finally, Quest Partners LLC grew its holdings in shares of Bloom Energy by 493.2% during the 3rd quarter. Quest Partners LLC now owns 21,356 shares of the company’s stock worth $226,000 after acquiring an additional 17,756 shares during the period. 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.