Jefferies Financial Group Downgrades Bloom Energy (NYSE:BE) to Hold

Bloom Energy (NYSE:BE) was downgraded by investment analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, Marketbeat reports. They currently have a $11.00 price target on the stock, down from their prior price target of $15.00. Jefferies Financial Group’s price objective suggests a potential upside of 10.55% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 target price on shares of Bloom Energy in a report on Thursday, June 20th. BTIG Research lifted their target price on Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. JPMorgan Chase & Co. increased their price target on Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Truist Financial upped their target price on shares of Bloom Energy from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Finally, Bank of America upped their price objective on shares of Bloom Energy from $8.00 to $9.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $15.88.

Bloom Energy Stock Performance

Bloom Energy stock opened at $9.95 on Friday. The business has a 50 day moving average of $12.35 and a 200-day moving average of $12.04. The company has a debt-to-equity ratio of 3.43, a current ratio of 4.65 and a quick ratio of 3.33. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $18.14. The company has a market capitalization of $2.26 billion, a P/E ratio of -7.37 and a beta of 2.69.

Bloom Energy (NYSE:BE) last announced its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The business had revenue of $335.80 million during the quarter, compared to analyst estimates of $307.73 million. During the same period last year, the company earned ($0.32) EPS. Bloom Energy’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities research analysts predict that Bloom Energy will post -0.25 earnings per share for the current year.

Insider Activity at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 2,094 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $14.53, for a total value of $30,425.82. Following the completion of the sale, the insider now owns 168,867 shares of the company’s stock, valued at approximately $2,453,637.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bloom Energy

A number of large investors have recently added to or reduced their stakes in BE. Millburn Ridgefield Corp boosted its position in Bloom Energy by 64.0% during the 1st quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock valued at $37,000 after acquiring an additional 1,286 shares in the last quarter. BNP Paribas purchased a new stake in Bloom Energy in the first quarter worth $38,000. ORG Partners LLC bought a new position in Bloom Energy in the second quarter worth $40,000. Quest Partners LLC lifted its position in Bloom Energy by 2,780.0% during the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after buying an additional 3,475 shares during the period. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Bloom Energy in the 2nd quarter worth about $53,000. Institutional investors own 77.04% of the company’s stock.

About Bloom Energy

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.