Bloom Energy Co. (BE:NYE) has been given an average rating of “Moderate Buy” by 16 brokerages that currently cover the company, according to Stock Target Advisor. The company has received five hold ratings and seven buy ratings. The average one-year price target for Bloom Energy stock among analysts who have issued ratings in the last year is $28.21.
Bloom Energy Stock-Analyst Ratings:
Several analysts have recently commented on BE stock shares. TheStreet upgraded the company from a “d” rating to a “c-” rating in February.
KeyCorp raised its target price on Bloom Energy stock from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on February 10th.
UBS Group began covering Bloom Energy with a “buy” rating and a $35.00 target price in December 2022.
Credit Suisse Group reaffirmed its “outperform” rating and set a $32.00 target price on Bloom Energy shares in February.
Finally, Truist Financial raised its target price on Bloom Energy from $20.00 to $26.00 and gave the stock a “hold” rating in a research report on February 7th.
Insider Transactions:
Bloom Energy insiders have been selling shares recently. On March 16th, insider Glen Griffiths sold 2,122 shares of bloom Energy stock at an average price of $18.03, for a total value of $38,259.66. Following the sale, the insider owns 403,498 shares of the company’s stock, valued at $7,275,068.94.
CEO Kr Sridhar sold 177,786 shares of the company’s stock on the same day at an average price of $18.06, for a total value of $3,210,815.16. Following the sale, the CEO owns 662,872 shares of the BE stock, valued at $11,971,468.32. Insiders sold a total of 338,781 shares of the company’s stock valued at $6,812,799 over the last three months.
Company insiders own 2.78% of the Bloom Energy stock.
Hedge Funds & Institutional Holdings:
Institutional investors and hedge funds have recently modified their holdings of Bloom Energy. Point72 Hong Kong Ltd bought a new stake in Bloom Energy during the third quarter worth about $207,000. Capital Impact Advisors LLC raised its holdings in Bloom Energy by 1.7% during the third quarter.
Capital Impact Advisors LLC now owns 34,793 shares of the company’s stock worth $735,000 after acquiring an additional 584 shares in the last quarter. Jennison Associates LLC bought a new stake in Bloom Energy during the third quarter worth about $652,000.
Jump Financial LLC raised its holdings in Bloom Energy by 392.0% during the third quarter. Jump Financial LLC now owns 74,740 shares of the company’s stock worth $1,494,000 after acquiring an additional 59,548 shares in the last quarter.
Finally, Chilton Capital Management LLC bought a new stake in Bloom Energy during the second quarter worth about $132,000. Institutional investors and hedge funds own 79.55% of the BE stock.
Bloom Energy Stock Price Analysis:
Bloom Energy’s stock opened at $18.33 on March 22nd, with a market capitalization of $3.78 billion, a P/E ratio of -11.11, and a beta of 2.89. The company’s 50-day moving average price is $22.72, and its 200-day moving average price is $21.32. The company has a quick ratio of 1.45, a current ratio of 1.95, and a debt-to-equity ratio of 2.18.
Looking at Bloom Energy’s recent stock performance, it has been quite volatile in the past year. Bloom Energy stock hit a 52-week high of $31.47 in June 2021 but has since declined, currently trading at around $18.33. The company’s financial results have also been mixed, with the latest earnings report showing revenue growth but a net loss.
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. It serves to data centers, retailers, hospitals, farming, semiconductors, and other manufacturing sectors.
The company was formerly known as Ion America Corp. and changed its name to Bloom Energy Corporation in 2006. Bloom Energy Corporation was incorporated in 2001 and is headquartered in San Jose, California.
