Robert W. Baird Has Lowered Expectations for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its price objective lowered by Robert W. Baird from $32.00 to $27.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on BE. Piper Sandler reduced their price objective on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. TD Cowen upped their target price on Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a report on Friday, February 28th. JPMorgan Chase & Co. lifted their price target on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. BMO Capital Markets restated a “market perform” rating on shares of Bloom Energy in a research note on Friday, February 28th. Finally, Hsbc Global Res upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Bloom Energy has a consensus rating of “Moderate Buy” and a consensus price target of $23.13.

Bloom Energy Price Performance

BE opened at $17.03 on Tuesday. The firm’s fifty day moving average price is $22.00 and its two-hundred day moving average price is $20.50. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of -30.41 and a beta of 3.27. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. Bloom Energy has a 1 year low of $9.02 and a 1 year high of $29.83.

Insider Activity at Bloom Energy

In other news, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the sale, the insider now directly owns 178,656 shares in the company, valued at $4,482,479.04. This represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 8.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Bloom Energy by 26.8% in the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after purchasing an additional 569 shares during the period. Arizona State Retirement System boosted its stake in Bloom Energy by 1.3% during the fourth quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock valued at $1,324,000 after buying an additional 759 shares during the period. Jones Financial Companies Lllp grew its position in Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after buying an additional 812 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after acquiring an additional 934 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Bloom Energy by 2.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 47,400 shares of the company’s stock valued at $1,053,000 after acquiring an additional 1,000 shares in the last quarter. 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.