On February 10, 2023, JP Morgan downgraded their outlook for Bloom Energy from Overweight to Neutral.

Analyst Price Forecast Suggests 24.70% Upside

As of February 10, 2023, the average one-year price target for Bloom Energy is $29.48. The forecasts range from a low of $21.21 to a high of $42.00. The average price target represents an increase of 24.70% from its latest reported closing price of $23.64.

The projected annual revenue for Bloom Energy is $1,529MM, an increase of 41.70%. The projected annual EPS is $0.17.

What are large shareholders doing?

Ameriprise Financial holds 20,713K shares representing 10.10% ownership of the company. In it’s prior filing, the firm reported owning 20,979K shares, representing a decrease of 1.28%. The firm decreased its portfolio allocation in BE by 76.76% over the last quarter.

SLMCX – Columbia Seligman Communications and Information Fund holds 10,357K shares representing 5.05% ownership of the company. In it’s prior filing, the firm reported owning 10,160K shares, representing an increase of 1.90%. The firm decreased its portfolio allocation in BE by 14.34% over the last quarter.

Clearbridge Investments holds 6,005K shares representing 2.93% ownership of the company. In it’s prior filing, the firm reported owning 5,535K shares, representing an increase of 7.82%. The firm increased its portfolio allocation in BE by 1.63% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 5,262K shares representing 2.56% ownership of the company. In it’s prior filing, the firm reported owning 4,541K shares, representing an increase of 13.70%. The firm increased its portfolio allocation in BE by 46.34% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 4,476K shares representing 2.18% ownership of the company. In it’s prior filing, the firm reported owning 3,892K shares, representing an increase of 13.04%. The firm increased its portfolio allocation in BE by 45.28% over the last quarter.

What is the Fund Sentiment?

There are 592 funds or institutions reporting positions in Bloom Energy. This is an increase of 26 owner(s) or 4.59% in the last quarter. Average portfolio weight of all funds dedicated to BE is 0.33%, an increase of 13.97%. Total shares owned by institutions increased in the last three months by 14.54% to 164,448K shares. The put/call ratio of BE is 0.53, indicating a bullish outlook.

Bloom Energy Background Information
(This description is provided by the company.)

Bloom Energy’s mission is to make clean, reliable energy affordable for everyone in the world. The company’s product, the Bloom Energy Server, delivers highly reliable and resilient, always-on electric power that is clean, cost-effective, and ideal for microgrid applications. Bloom’s customers include many Fortune 100 companies and leaders in manufacturing, data centers, healthcare, retail, higher education, utilities, and other industries.

This article originally appeared on Fintel

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