Bloom Energy (NYSE:BE) Price Target Cut to $28.00 by Analysts at Susquehanna Bancshares

Bloom Energy (NYSE:BEGet Rating) had its price target trimmed by Susquehanna Bancshares from $33.00 to $28.00 in a research report report published on Tuesday, Stock Target Advisor reports.

Other analysts also recently issued research reports about the company. Susquehanna dropped their price target on Bloom Energy from $33.00 to $28.00 in a research note on Tuesday. Zacks Investment Research downgraded Bloom Energy from a hold rating to a sell rating in a research note on Wednesday, April 13th. Morgan Stanley lowered their target price on Bloom Energy from $26.00 to $25.00 and set an equal weight rating on the stock in a research note on Tuesday, April 5th. Bank of America upgraded Bloom Energy from a neutral rating to a buy rating and upped their target price for the stock from $28.00 to $29.00 in a research note on Monday, February 14th. Finally, Truist Financial started coverage on Bloom Energy in a research note on Monday, May 2nd. They issued a hold rating and a $20.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Buy and an average price target of $26.09.

Shares of NYSE:BE opened at $13.88 on Tuesday. The business’s 50-day moving average is $21.35 and its 200 day moving average is $22.01. Bloom Energy has a 1 year low of $11.47 and a 1 year high of $37.01. 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 (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 business had revenue of $201.04 million for the quarter, compared to analyst estimates of $220.75 million. During the same period in the prior year, the company earned ($0.17) earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities research analysts predict that Bloom Energy will post -0.69 EPS for the current year.

In other Bloom Energy news, CEO Kr Sridhar sold 65,065 shares of the stock in a transaction that occurred on Wednesday, February 16th. The stock was sold at an average price of $19.64, for a total transaction of $1,277,876.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Shawn Marie Soderberg sold 7,519 shares of the stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $22.24, for a total value 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 worth $3,440,960 in the last quarter. 2.78% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Invesco Ltd. increased its stake in Bloom Energy by 15.3% during the third quarter. Invesco Ltd. now owns 1,588,580 shares of the company’s stock worth $29,739,000 after acquiring an additional 210,834 shares during the last quarter. Boyd Watterson Asset Management LLC OH acquired a new stake in Bloom Energy during the fourth quarter worth $413,000. Russell Investments Group Ltd. acquired a new stake in Bloom Energy during the fourth quarter worth $1,492,000. Steward Partners Investment Advisory LLC increased its stake in Bloom Energy by 341.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,423 shares of the company’s stock worth $272,000 after acquiring an additional 9,612 shares during the last quarter. Finally, KBC Group NV increased its stake in Bloom Energy by 22.1% during the third quarter. KBC Group NV now owns 145,532 shares of the company’s stock worth $2,724,000 after acquiring an additional 26,306 shares during the last quarter. 65.68% of the stock is owned by hedge funds and other institutional investors.

About Bloom Energy (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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