Bloom Energy (NYSE:BE – Get Rating) had its price objective increased by investment analysts at Truist Financial to $19.00 in a research note issued on Friday, Stock Target Advisor reports. Truist Financial’s price objective points to a potential upside of 4.40% from the stock’s current price.
Several other research analysts have also commented on the company. Susquehanna Bancshares decreased their target price on Bloom Energy from $33.00 to $28.00 in a research report on Tuesday, May 10th. Raymond James decreased their target price on Bloom Energy from $34.00 to $27.00 and set a “strong-buy” rating for the company in a research report on Friday, February 11th. Morgan Stanley decreased their target price on Bloom Energy from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 5th. Zacks Investment Research lowered Bloom Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, April 13th. Finally, Bank of America upgraded Bloom Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $28.00 to $29.00 in a research report on Monday, February 14th. One analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $26.00.
BE stock traded up $1.63 during midday trading on Friday, hitting $18.20. 96,611 shares of the company’s stock were exchanged, compared to its average volume of 3,912,939. The company has a current ratio of 2.09, a quick ratio of 1.56 and a debt-to-equity ratio of 2,524.52. Bloom Energy has a 12-month low of $11.47 and a 12-month high of $37.01. The firm has a 50 day moving average price of $19.99 and a 200-day moving average price of $21.09. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of -14.68 and a beta of 3.38.
Bloom Energy (NYSE:BE – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.12). The business had revenue of $201.04 million for the quarter, compared to analysts’ expectations of $220.75 million. Bloom Energy had a negative return on equity of 738.94% and a negative net margin of 22.25%. Bloom Energy’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. On average, sell-side analysts forecast that Bloom Energy will post -0.93 EPS for the current fiscal year.
In other news, EVP Shawn Marie Soderberg sold 2,397 shares of the business’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $15.72, for a total value of $37,680.84. Following the sale, the executive vice president now owns 357,718 shares of the company’s stock, valued at approximately $5,623,326.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gregory D. Cameron sold 61,194 shares of the business’s stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $21.39, for a total value of $1,308,939.66. The disclosure for this sale can be found here. Insiders have sold a total of 90,437 shares of company stock valued at $1,939,871 in the last quarter. 2.78% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp raised its stake in shares of Bloom Energy by 5.1% in the 4th quarter. Mackenzie Financial Corp now owns 11,159 shares of the company’s stock worth $245,000 after buying an additional 544 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Bloom Energy by 1.8% in the 1st quarter. Arizona State Retirement System now owns 39,934 shares of the company’s stock worth $964,000 after buying an additional 687 shares in the last quarter. Itau Unibanco Holding S.A. raised its stake in shares of Bloom Energy by 13.5% in the 4th quarter. Itau Unibanco Holding S.A. now owns 7,047 shares of the company’s stock worth $154,000 after buying an additional 840 shares in the last quarter. Flputnam Investment Management Co. raised its stake in shares of Bloom Energy by 8.0% in the 4th quarter. Flputnam Investment Management Co. now owns 11,597 shares of the company’s stock worth $254,000 after buying an additional 863 shares in the last quarter. Finally, Psagot Value Holdings Ltd. raised its stake in shares of Bloom Energy by 74.1% in the 3rd quarter. Psagot Value Holdings Ltd. now owns 2,350 shares of the company’s stock worth $44,000 after buying an additional 1,000 shares in the last quarter. 65.68% of the stock is currently owned by institutional investors.
Bloom Energy Company Profile (Get Rating)
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 power generation platform that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion.
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