Robert W. Baird Issues Pessimistic Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its price target cut by Robert W. Baird from $32.00 to $27.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Hsbc Global Res raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Bloom Energy in a research note on Tuesday, April 1st. Susquehanna cut their target price on Bloom Energy from $33.00 to $26.00 and set a “positive” rating on the stock in a research note on Monday. Finally, Piper Sandler decreased their target price on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Two equities 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Bloom Energy currently has an average rating of “Moderate Buy” and an average target price of $23.66.

Bloom Energy Price Performance

Shares of BE stock opened at $18.33 on Tuesday. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of -32.73 and a beta of 3.27. Bloom Energy has a 12 month low of $9.02 and a 12 month high of $29.83. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The stock has a 50-day moving average price of $22.30 and a 200 day moving average price of $20.47.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the transaction, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. The trade was a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the transaction, the insider now directly owns 171,040 shares of the company’s stock, valued at $4,005,756.80. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BE. Vanguard Group Inc. boosted its stake in Bloom Energy by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company’s stock valued at $427,194,000 after purchasing an additional 356,317 shares during the last quarter. Norges Bank bought a new position in Bloom Energy in the fourth quarter worth approximately $93,951,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Bloom Energy in the fourth quarter worth about $61,968,000. Legal & General Group Plc lifted its holdings in Bloom Energy by 7.3% during the fourth quarter. Legal & General Group Plc now owns 2,133,318 shares of the company’s stock valued at $47,381,000 after purchasing an additional 144,616 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Bloom Energy by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company’s stock worth $36,737,000 after buying an additional 10,265 shares during the period. Institutional investors own 77.04% of the company’s stock.

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.