Raymond James slashes price target on Bloom Energy Corporation [BE] – find out why.

Bloom Energy Corporation [NYSE: BE] stock went on an upward path that rose over 3.20% on Wednesday, amounting to a one-week price decrease of less than -5.71%. The company report on August 7, 2020 that Bloom Energy Corporation Prices Upsized $200.0 Million Green Convertible Senior Notes Offering.

Bloom Energy Corporation (NYSE: BE) today announced the pricing of its offering of $200.0 million aggregate principal amount of 2.50% green convertible senior notes due 2025 (the “notes”) in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The offering size was increased from the previously announced offering size of $135.0 million aggregate principal amount of notes. The issuance and sale of the notes is scheduled to settle on August 11, 2020, subject to customary closing conditions. Bloom Energy also granted the initial purchaser of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date notes are first issued, up to an additional $30.0 million principal amount of notes.

The notes will be senior, unsecured obligations of Bloom Energy and will accrue interest at a rate of 2.50% per annum, payable semi-annually in arrears on February 15 and August 15 of each year, beginning on February 15, 2021. The notes will mature on August 15, 2025, unless earlier repurchased, redeemed or converted. Before May 15, 2025, noteholders will have the right to convert their notes only upon the occurrence of certain events. From and after May 15, 2025, noteholders may convert their notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. Bloom Energy will settle conversions by paying or delivering, as applicable, cash, shares of its Class A common stock or a combination of cash and shares of its Class A common stock, at Bloom Energy’s election. The initial conversion rate is 61.6808 shares of Class A common stock per $1,000 principal amount of notes, which represents an initial conversion price of approximately $16.21 per share of Class A common stock. The initial conversion price represents a premium of approximately 25.0% over the last reported sale price of $12.97 per share of Bloom Energy’s Class A common stock on August 6, 2020. The conversion rate and conversion price will be subject to adjustment upon the occurrence of certain events. If a “make-whole fundamental change” (as defined in the indenture for the notes) occurs, Bloom Energy will, in certain circumstances, increase the conversion rate for a specified time for holder who convert their notes in connection with that make-whole fundamental change.

Over the last 12 months, BE stock rose by 187.17%. The one-year Bloom Energy Corporation stock forecast points to a potential upside of 15.16. The average equity rating for BE stock is currently 2.80, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.81 billion, with 125.93 million shares outstanding and 97.13 million shares in the current float. Compared to the average trading volume of 4.49M shares, BE stock reached a trading volume of 3121622 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Bloom Energy Corporation [BE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BE shares is $15.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BE stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for Bloom Energy Corporation shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on February 20, 2020. The new note on the price target was released on February 13, 2020, representing the official price target for Bloom Energy Corporation stock. Previously, the target price had yet another raise to $5, while KeyBanc Capital Markets analysts kept a Overweight rating on BE stock.

The Average True Range (ATR) for Bloom Energy Corporation is set at 1.49, with the Price to Sales ratio for BE stock in the period of the last 12 months amounting to 2.61.

BE Stock Performance Analysis:

Bloom Energy Corporation [BE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.71. With this latest performance, BE shares gained by 0.92% in over the last four-week period, additionally plugging by 26.29% over the last 6 months – not to mention a rise of 187.17% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BE stock in for the last two-week period is set at 48.92, with the RSI for the last a single of trading hit 46.19, and the three-weeks RSI is set at 51.27 for Bloom Energy Corporation [BE]. The present Moving Average for the last 50 days of trading for this stock 11.97, while it was recorded at 12.91 for the last single week of trading, and 8.47 for the last 200 days.

Insight into Bloom Energy Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Bloom Energy Corporation [BE] shares currently have an operating margin of -30.00 and a Gross Margin at +12.08. Bloom Energy Corporation’s Net Margin is presently recorded at -38.77.

Return on Total Capital for BE is now -26.80, given the latest momentum, and Return on Invested Capital for the company is -55.07. Additionally, BE Total Debt to Total Capital is recorded at 131.11, with Total Debt to Total Assets ending up at 82.71.

Reflecting on the efficiency of the workforce at the company, Bloom Energy Corporation [BE] managed to generate an average of -$200,536 per employee. Receivables Turnover for the company is 11.10 with a Total Asset Turnover recorded at a value of 0.58.Bloom Energy Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.50.

BE Stock EPS

With the latest financial reports released by the company, Bloom Energy Corporation posted 0.01/share EPS, while the average EPS was predicted by analysts to be reported at 0/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Bloom Energy Corporation go to 25.00%.

Bloom Energy Corporation [BE] Insider Position Details

There are presently around $702 million, or 50.30% of BE stock, in the hands of institutional investors. The top three institutional holders of BE stocks are: AMERIPRISE FINANCIAL INC with ownership of 10,762,495, which is approximately 20.713% of the company’s market cap and around 2.00% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 6,047,853 shares of the stock with an approximate value of $79.89 million in BE stocks shares; and VANGUARD GROUP INC, currently with $68.26 million in BE stock with ownership of nearly 10.256% of the company’s market capitalization.

Positions in Bloom Energy Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 95 institutional holders increased their position in Bloom Energy Corporation [NYSE:BE] by around 11,086,459 shares. Additionally, 67 investors decreased positions by around 4,760,222 shares, while 32 investors held positions by with 37,269,031 shares. The mentioned changes placed institutional holdings at 53,115,712 shares, according to the latest SEC report filing. BE stock had 32 new institutional investments in for a total of 2,220,193 shares, while 27 institutional investors sold positions of 1,204,473 shares during the same period.

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