Bloom Energy (NYSE:BE) Coverage Initiated at Redburn Atlantic

Investment analysts at Redburn Atlantic initiated coverage on shares of Bloom Energy (NYSE:BEGet Free Report) in a note issued to investors on Tuesday, Briefing.com reports. The brokerage set a “neutral” rating and a $12.50 price target on the stock. Redburn Atlantic’s price objective would suggest a potential upside of 10.72% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Truist Financial cut shares of Bloom Energy from a “hold” rating to a “sell” rating and dropped their target price for the stock from $12.00 to $9.00 in a research report on Tuesday, January 23rd. Royal Bank of Canada dropped their target price on shares of Bloom Energy from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Friday, January 12th. Susquehanna dropped their target price on shares of Bloom Energy from $28.00 to $23.00 and set a “positive” rating for the company in a research report on Friday, November 10th. Robert W. Baird raised shares of Bloom Energy from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $16.00 to $22.00 in a research report on Wednesday, January 10th. Finally, BMO Capital Markets dropped their target price on shares of Bloom Energy from $14.00 to $13.00 and set a “market perform” rating for the company in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.25.

Check Out Our Latest Analysis on Bloom Energy

Bloom Energy Price Performance

Shares of NYSE:BE opened at $11.29 on Tuesday. The company’s fifty day moving average price is $13.33 and its 200-day moving average price is $13.46. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of -6.64 and a beta of 2.91. Bloom Energy has a one year low of $9.51 and a one year high of $25.68. The company has a debt-to-equity ratio of 2.48, a current ratio of 3.64 and a quick ratio of 2.61.

Bloom Energy (NYSE:BEGet Free Report) last released its earnings results on Wednesday, November 8th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.22. Bloom Energy had a negative net margin of 24.58% and a negative return on equity of 23.36%. The company had revenue of $400.27 million for the quarter, compared to analyst estimates of $362.75 million. On average, equities research analysts anticipate that Bloom Energy will post -0.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bloom Energy

Several hedge funds have recently modified their holdings of BE. Bank of New York Mellon Corp lifted its holdings in shares of Bloom Energy by 13.0% in the first quarter. Bank of New York Mellon Corp now owns 566,033 shares of the company’s stock worth $13,669,000 after buying an additional 64,919 shares in the last quarter. AlphaCrest Capital Management LLC purchased a new stake in Bloom Energy during the first quarter valued at $337,000. Bank of Montreal Can raised its stake in Bloom Energy by 8.1% during the first quarter. Bank of Montreal Can now owns 63,498 shares of the company’s stock valued at $1,559,000 after purchasing an additional 4,781 shares in the last quarter. MetLife Investment Management LLC raised its stake in Bloom Energy by 53.5% during the first quarter. MetLife Investment Management LLC now owns 76,115 shares of the company’s stock valued at $1,838,000 after purchasing an additional 26,537 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in Bloom Energy during the first quarter valued at $1,016,000. Hedge funds and other institutional investors own 82.95% of the company’s stock.

About Bloom Energy

(Get Free Report)

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.

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