Bloom Energy (NYSE:BE) Downgraded by Jefferies Financial Group 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, Briefing.com reports. They presently have a $11.00 target price on the stock, down from their prior target price of $15.00. Jefferies Financial Group’s target price suggests a potential downside of 0.27% from the stock’s previous close.

A number of other research firms also recently weighed in on BE. BTIG Research raised their price target on Bloom Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. JPMorgan Chase & Co. increased their price objective on Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Wells Fargo & Company increased their price objective on Bloom Energy from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, May 20th. TD Cowen increased their price objective on Bloom Energy from $10.00 to $13.00 and gave the company a “hold” rating in a report on Friday, May 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $15.00 price objective on shares of Bloom Energy in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.88.

Bloom Energy Stock Down 1.3 %

Shares of Bloom Energy stock opened at $11.03 on Friday. The stock has a 50-day moving average price of $12.44 and a 200 day moving average price of $12.02. The company has a market cap of $2.50 billion, a P/E ratio of -8.17 and a beta of 2.69. The company has a current ratio of 4.65, a quick ratio of 3.33 and a debt-to-equity ratio of 3.43. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $18.14.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The firm had revenue of $335.80 million during the quarter, compared to the consensus estimate of $307.73 million. Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.32) EPS. As a group, analysts expect that Bloom Energy will post -0.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 2,094 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was 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 in the company, valued at approximately $2,453,637.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Bloom Energy by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock worth $221,262,000 after buying an additional 156,434 shares during the period. Norges Bank bought a new position in Bloom Energy in the 4th quarter valued at $82,678,000. Coatue Management LLC raised its position in Bloom Energy by 28.3% in the 4th quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock valued at $65,666,000 after purchasing an additional 978,053 shares during the last quarter. Electron Capital Partners LLC raised its position in Bloom Energy by 131.5% in the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after purchasing an additional 1,790,733 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Bloom Energy by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,604,107 shares of the company’s stock valued at $23,741,000 after purchasing an additional 25,437 shares during the last quarter. 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.