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

Bloom Energy (NYSE:BE - Get Free Report) had its price target reduced by investment analysts at Bank of America from $8.00 to $7.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "underperform" rating on the stock. Bank of America's target price suggests a potential downside of 35.54% from the company's current price.

Other analysts have also recently issued reports about the company. Truist Financial decreased their target price on Bloom Energy from $13.00 to $12.00 and set a "hold" rating for the company in a research report on Wednesday, October 16th. Piper Sandler reissued a "neutral" rating and issued a $10.00 target price (down previously from $11.00) on shares of Bloom Energy in a research note on Tuesday, October 29th. UBS Group decreased their target price on shares of Bloom Energy from $25.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. Jefferies Financial Group lowered Bloom Energy from a "buy" rating to a "hold" rating and reduced their target price for the company from $15.00 to $11.00 in a report on Friday, September 6th. Finally, Susquehanna cut their target price on Bloom Energy from $16.00 to $13.00 and set a "positive" rating for the company in a research report on Wednesday, October 16th. One investment 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. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $15.29.

Bloom Energy Stock Down 1.0 %

Shares of NYSE BE traded down $0.11 during mid-day trading on Thursday, hitting $10.86. 5,737,129 shares of the stock traded hands, compared to its average volume of 5,875,884. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -8.43 and a beta of 2.71. The stock has a fifty day moving average price of $10.42 and a 200-day moving average price of $12.08. Bloom Energy has a 52 week low of $8.41 and a 52 week high of $18.14. 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 - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The business had revenue of $335.80 million for the quarter, compared to the consensus estimate of $307.73 million. During the same period in the prior year, the firm earned ($0.32) EPS. The business's revenue for the quarter was up 11.5% on a year-over-year basis. Research analysts anticipate that Bloom Energy will post -0.27 EPS for the current year.

Institutional Trading of Bloom Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BE. S&CO Inc. purchased a new position in shares of Bloom Energy in the 3rd quarter valued at about $105,000. Mizuho Markets Americas LLC increased its holdings in Bloom Energy by 8.2% in the 3rd quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company's stock valued at $4,335,000 after purchasing an additional 31,189 shares in the last quarter. Nicola Wealth Management LTD. increased its holdings in Bloom Energy by 20.7% during the 3rd quarter. Nicola Wealth Management LTD. now owns 175,000 shares of the company's stock worth $1,848,000 after purchasing an additional 30,000 shares during the last quarter. Parametrica Management Ltd bought a new position in shares of Bloom Energy in the 3rd quarter worth about $785,000. Finally, Oppenheimer & Co. Inc. raised its holdings in Bloom Energy by 148.8% during the third quarter. Oppenheimer & Co. Inc. now owns 130,418 shares of the company's stock worth $1,377,000 after purchasing an additional 78,009 shares in the last quarter. Institutional investors and hedge funds 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.