Susquehanna Trims Bloom Energy (NYSE:BE) Target Price to $28.00

Bloom Energy (NYSE:BEGet Rating) had its price target cut by Susquehanna from $33.00 to $28.00 in a research note issued to investors on Tuesday morning, The Fly reports.

BE has been the topic of several other reports. Morgan Stanley lowered their price target on shares of Bloom Energy from $26.00 to $25.00 and set an equal weight rating on the stock in a report on Tuesday, April 5th. Zacks Investment Research cut shares of Bloom Energy from a hold rating to a sell rating in a report on Wednesday, April 13th. Truist Financial initiated coverage on shares of Bloom Energy in a report on Monday, May 2nd. They set a hold rating and a $20.00 price target on the stock. Susquehanna Bancshares upgraded shares of Bloom Energy from a neutral rating to a positive rating and upped their price objective for the stock from $18.00 to $33.00 in a report on Monday, February 28th. Finally, Bank of America upgraded shares of Bloom Energy from a neutral rating to a buy rating and upped their price objective for the stock from $28.00 to $29.00 in a report on Monday, February 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bloom Energy presently has a consensus rating of Buy and an average target price of $26.09.

Shares of NYSE:BE opened at $13.88 on Tuesday. The company’s fifty day moving average is $21.50 and its two-hundred day moving average is $22.06. The company has a quick ratio of 1.94, a current ratio of 2.09 and a debt-to-equity ratio of 2,524.52. Bloom Energy has a 12-month low of $11.47 and a 12-month high of $37.01. The company has a market cap of $2.46 billion, a P/E ratio of -9.96 and a beta of 3.38.

Bloom Energy (NYSE:BEGet Rating) last announced its earnings results on Thursday, May 5th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.12). Bloom Energy had a negative net margin of 22.25% and a negative return on equity of 2,354.41%. The firm had revenue of $201.04 million for the quarter, compared to analyst estimates of $220.75 million. During the same period last year, the firm earned ($0.17) earnings per share. Bloom Energy’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts anticipate that Bloom Energy will post -0.64 earnings per share for the current year.

In other Bloom Energy news, EVP Swaminathan Venkataraman sold 13,758 shares of the company’s stock in a transaction dated Wednesday, February 16th. The shares were sold at an average price of $19.64, for a total transaction of $270,207.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Shawn Marie Soderberg sold 7,519 shares of the company’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $22.24, for a total transaction of $167,222.56. Following the transaction, the executive vice president now directly owns 357,084 shares of the company’s stock, valued at approximately $7,941,548.16. The disclosure for this sale can be found here. Insiders have sold 166,218 shares of company stock valued at $3,440,960 over the last 90 days. Corporate insiders own 2.78% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP acquired a new position in Bloom Energy in the first quarter worth about $32,000. Neo Ivy Capital Management acquired a new position in Bloom Energy in the fourth quarter worth about $38,000. Psagot Value Holdings Ltd. raised its position in Bloom Energy by 74.1% in the third quarter. Psagot Value Holdings Ltd. now owns 2,350 shares of the company’s stock worth $44,000 after purchasing an additional 1,000 shares in the last quarter. Millburn Ridgefield Corp raised its position in Bloom Energy by 209.3% in the first quarter. Millburn Ridgefield Corp now owns 2,032 shares of the company’s stock worth $49,000 after purchasing an additional 1,375 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its position in Bloom Energy by 209.3% in the first quarter. Catalyst Capital Advisors LLC now owns 2,032 shares of the company’s stock worth $49,000 after purchasing an additional 1,375 shares in the last quarter. 65.68% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Company Profile (Get Rating)

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 power generation platform that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion.

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