Susquehanna Issues Pessimistic Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its price target cut by Susquehanna from $33.00 to $26.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a positive rating on the stock.

Several other equities analysts also recently issued reports on the stock. HSBC raised shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Tuesday, April 8th. Royal Bank of Canada reiterated an “outperform” rating on shares of Bloom Energy in a report on Tuesday, April 1st. JPMorgan Chase & Co. upped their target price on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Redburn Atlantic lowered shares of Bloom Energy from a “neutral” rating to a “sell” rating and dropped their price target for the company from $14.50 to $10.00 in a research report on Wednesday, April 9th. Finally, Piper Sandler dropped their price target on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.92.

Bloom Energy Trading Up 1.3 %

Shares of Bloom Energy stock opened at $17.87 on Monday. The firm’s 50 day moving average is $22.43 and its 200 day moving average is $20.49. The firm has a market capitalization of $4.12 billion, a PE ratio of -31.91 and a beta of 3.27. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. Bloom Energy has a 1 year low of $9.02 and a 1 year high of $29.83.

Insider Activity

In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the transaction, the insider now directly owns 178,656 shares of the company’s stock, valued at $4,482,479.04. The trade was a 0.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the sale, the insider now directly owns 171,040 shares in the company, valued at $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Bloom Energy by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company’s stock worth $427,194,000 after acquiring an additional 356,317 shares in the last quarter. Norges Bank purchased a new stake in shares of Bloom Energy during the 4th quarter valued at about $93,951,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Bloom Energy in the 4th quarter worth approximately $61,968,000. Legal & General Group Plc increased its stake in shares of Bloom Energy by 7.3% in the 4th quarter. Legal & General Group Plc now owns 2,133,318 shares of the company’s stock worth $47,381,000 after purchasing an additional 144,616 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Bloom Energy by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company’s stock valued at $36,737,000 after acquiring an additional 10,265 shares during the period. 77.04% of the stock is owned by institutional investors.

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.