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

Bloom Energy (NYSE:BE - Free Report) had its target price trimmed by Roth Mkm from $26.00 to $20.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts have also commented on BE. Mizuho assumed coverage on Bloom Energy in a research note on Tuesday, March 18th. They issued a "neutral" rating and a $28.00 target price for the company. Redburn Atlantic downgraded Bloom Energy from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $14.50 to $10.00 in a report on Wednesday, April 9th. Bank of America cut their target price on Bloom Energy from $20.00 to $18.00 and set an "underperform" rating for the company in a research report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price objective on Bloom Energy from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Finally, Hsbc Global Res upgraded shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, nine have given 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $22.97.

Bloom Energy Stock Performance

BE stock traded down $0.52 during trading on Wednesday, reaching $16.48. 4,436,859 shares of the stock were exchanged, compared to its average volume of 6,772,286. The stock has a 50 day simple moving average of $21.85 and a 200-day simple moving average of $20.68. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The company has a market capitalization of $3.80 billion, a P/E ratio of -29.43 and a beta of 3.27. Bloom Energy has a twelve month low of $9.02 and a twelve month high of $29.83.

Insiders Place Their Bets

In related news, insider Satish Chitoori sold 1,020 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the transaction, the insider now owns 178,656 shares of the company's stock, valued at $4,482,479.04. This represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 8.81% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BE. Mainstream Capital Management LLC bought a new position in Bloom Energy in the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC raised its stake in shares of Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock valued at $28,000 after acquiring an additional 934 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock worth $33,000 after purchasing an additional 812 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Bloom Energy in the third quarter valued at $34,000. Finally, Quarry LP bought a new position in Bloom Energy during the 4th quarter worth $35,000. 77.04% of the stock is currently 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.