Bloom Energy (NYSE:BE) Price Target Cut to $16.00 by Analysts at Susquehanna

Bloom Energy (NYSE:BE) had its price target lowered by Susquehanna from $18.00 to $16.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a positive rating on the stock.

A number of other brokerages also recently commented on BE. KeyCorp downgraded Bloom Energy from an overweight rating to a sector weight rating in a research report on Friday, February 16th. BTIG Research started coverage on Bloom Energy in a report on Thursday, January 25th. They issued a buy rating and a $21.00 target price for the company. Bank of America lowered Bloom Energy from a neutral rating to an underperform rating and reduced their target price for the company from $16.00 to $10.00 in a report on Monday, January 29th. Redburn Atlantic started coverage on Bloom Energy in a report on Tuesday, February 6th. They issued a neutral rating and a $12.50 target price for the company. Finally, Royal Bank of Canada reduced their target price on Bloom Energy from $21.00 to $14.00 and set an outperform rating for the company in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $16.44.

Bloom Energy Price Performance

Shares of NYSE:BE opened at $11.03 on Wednesday. Bloom Energy has a one year low of $8.41 and a one year high of $20.62. The stock has a fifty day moving average of $10.46 and a 200-day moving average of $12.08. The company has a market capitalization of $2.48 billion, a PE ratio of -7.61 and a beta of 2.76. 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, February 15th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. Bloom Energy had a negative return on equity of 23.88% and a negative net margin of 22.66%. The company had revenue of $356.92 million during the quarter, compared to the consensus estimate of $481.90 million. As a group, equities analysts anticipate that Bloom Energy will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at $26,323,401.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Kr Sridhar sold 50,746 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $9.74, for a total value of $494,266.04. Following the sale, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at $26,323,401.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Shawn Marie Soderberg sold 13,120 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $9.34, for a total value of $122,540.80. Following the completion of the sale, the executive vice president now directly owns 73,946 shares in the company, valued at $690,655.64. The disclosure for this sale can be found here. Insiders have sold 67,782 shares of company stock valued at $658,463 over the last three months. 8.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in shares of Bloom Energy by 1.3% in the first quarter. BlackRock Inc. now owns 21,141,205 shares of the company’s stock valued at $421,344,000 after buying an additional 263,507 shares during the period. 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 valued at $289,026,000 after buying an additional 307,627 shares during the period. Norges Bank bought a new stake in shares of Bloom Energy in the fourth quarter valued at about $82,678,000. State Street Corp lifted its stake in shares of Bloom Energy by 2.8% in the first quarter. State Street Corp now owns 4,586,967 shares of the company’s stock valued at $91,417,000 after buying an additional 125,720 shares during the period. Finally, Coatue Management LLC lifted its stake in shares of Bloom Energy by 28.3% in the fourth quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock valued at $65,666,000 after buying an additional 978,053 shares during the period. 77.04% of the stock is owned by institutional investors and hedge funds.

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.