Bloom Energy Corp (BE) Gets a Hold Rating from Oppenheimer


Oppenheimer analyst Colin Rusch assigned a Hold rating to Bloom Energy Corp (BE) today. The company’s shares closed yesterday at $10.69, close to its 52-week low of $8.88.

Rusch said:

“With BE posting solid annual backlog growth on a unit basis for 4Q18 and expecting to grow opex at a slower rate than we anticipated, our focus shifts to ASPs and COGS. Near-term pricing is holding up better than we anticipated but COGS are not dropping as quickly as we previously modelled. We are adjusting for both in our new estimates. As BE diversifies its sales mix and grows units, we believe execution on its cost out program is key for share appreciation as we expect GM improvement and incremental operating margin to drive shares. We believe many investors remain concerned about future warranty expense and manufacturing cost reduction. We expect BE execution in 2019 to either support or assuage those concerns. We remain on the sidelines.”

According to TipRanks.com, Rusch is a 5-star analyst with an average return of 9.3% and a 49.4% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Amer Superconductor, and Canadian Solar Inc.

The word on The Street in general, suggests a Hold analyst consensus rating for Bloom Energy Corp with a $16 average price target.

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The company has a one-year high of $38 and a one-year low of $8.88. Currently, Bloom Energy Corp has an average volume of 634.2K.

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is negative on the stock.

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Bloom Energy Corp. manufactures and installs on-site distributed power generators. Its products include energy server achitecture, solide oxide fuel cells, distributed generation, Es5 data sheet and UPM-570 data sheet.