Roth Mkm Issues Pessimistic Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its target price dropped by Roth Mkm from $26.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Roth Mkm’s price target would indicate a potential upside of 13.25% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley boosted their price objective on shares of Bloom Energy from $28.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Mizuho assumed coverage on Bloom Energy in a report on Tuesday, March 18th. They issued a “neutral” rating and a $28.00 price target for the company. Bank of America reduced their price objective on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. TD Cowen raised their target price on Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a report on Friday, February 28th. Finally, HSBC upgraded Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.24.

Bloom Energy Trading Down 3.5 %

NYSE:BE traded down $0.65 during trading hours on Wednesday, reaching $17.66. 2,078,507 shares of the company were exchanged, compared to its average volume of 6,775,673. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of -31.54 and a beta of 3.27. The stock has a 50 day simple moving average of $22.30 and a 200 day simple moving average of $20.47. Bloom Energy has a 52-week low of $9.02 and a 52-week high of $29.83. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Insider Buying and Selling

In other news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy 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. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BE. Mainstream Capital Management LLC acquired a new position in shares of Bloom Energy in the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC increased its stake in Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after buying an additional 934 shares during the period. Jones Financial Companies Lllp lifted its position in Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after buying an additional 812 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Bloom Energy during the 3rd quarter valued at $34,000. Finally, Quarry LP acquired a new position in shares of Bloom Energy in the fourth quarter worth $35,000. 77.04% of the stock is owned by institutional investors and hedge funds.

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.