Bloom Energy (NYSE:BE – Get Rating) had its target price boosted by equities researchers at Truist Financial to $19.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. Truist Financial’s price target would suggest a potential upside of 4.40% from the stock’s previous close.
Several other research analysts have also recently issued reports on BE. Susquehanna Bancshares cut their price objective on Bloom Energy from $33.00 to $28.00 in a research report on Tuesday, May 10th. Morgan Stanley cut their price objective 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. Susquehanna cut their price objective on Bloom Energy from $33.00 to $28.00 in a research report on Tuesday, May 10th. Zacks Investment Research cut Bloom Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, April 13th. Finally, Raymond James dropped their price target 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $26.00.
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Shares of Bloom Energy stock traded up $1.63 during trading hours on Friday, hitting $18.20. 96,611 shares of the company were exchanged, compared to its average volume of 3,912,939. Bloom Energy has a 1 year low of $11.47 and a 1 year high of $37.01. 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. The business has a 50-day moving average of $19.99 and a 200-day moving average 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 released its quarterly earnings results on Thursday, May 5th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.12). The company 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 last year, the company earned ($0.17) EPS. As a group, research analysts anticipate that Bloom Energy will post -0.93 earnings per share for the current fiscal year.
In other Bloom Energy news, EVP Shawn Marie Soderberg sold 2,397 shares of the firm’s stock in a transaction dated 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 directly owns 357,718 shares of the company’s stock, valued at approximately $5,623,326.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Gregory D. Cameron sold 61,194 shares of the firm’s stock in a transaction dated 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. In the last ninety days, insiders have sold 90,437 shares of company stock worth $1,939,871. Corporate insiders own 2.78% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Allworth Financial LP purchased a new position in shares of Bloom Energy in the 1st quarter worth about $32,000. Neo Ivy Capital Management purchased a new position in shares of Bloom Energy in the 4th quarter worth about $38,000. Psagot Value Holdings Ltd. raised its holdings 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 purchasing an additional 1,000 shares during the period. Millburn Ridgefield Corp raised its holdings in shares of Bloom Energy by 209.3% in the 1st quarter. Millburn Ridgefield Corp now owns 2,032 shares of the company’s stock worth $49,000 after purchasing an additional 1,375 shares during the period. Finally, Catalyst Capital Advisors LLC raised its holdings in shares of Bloom Energy by 209.3% in the 1st quarter. Catalyst Capital Advisors LLC now owns 2,032 shares of the company’s stock worth $49,000 after purchasing an additional 1,375 shares during the period. 65.68% of the stock is currently owned by hedge funds and other institutional investors.
About Bloom Energy (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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