Bloom Energy (NYSE:BE – Free Report) had its price objective boosted by Wells Fargo & Company from $12.00 to $14.00 in a report published on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.
Several other research firms also recently commented on BE. JPMorgan Chase & Co. downgraded shares of Bloom Energy from an overweight rating to a neutral rating and lowered their target price for the stock from $19.00 to $14.00 in a report on Friday, February 16th. Susquehanna decreased their price target on shares of Bloom Energy from $18.00 to $16.00 and set a positive rating on the stock in a research note on Wednesday, March 27th. TD Cowen upped their price target on shares of Bloom Energy from $10.00 to $13.00 and gave the company a hold rating in a research note on Friday, May 10th. Raymond James decreased their price target on shares of Bloom Energy from $20.00 to $16.00 and set an outperform rating on the stock in a research note on Friday, February 16th. Finally, KeyCorp downgraded shares of Bloom Energy from an overweight rating to a sector weight rating in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $15.64.
Get Our Latest Stock Analysis on BE
Bloom Energy Price Performance
Shares of BE stock traded up $0.59 during mid-day trading on Monday, hitting $12.92. The company had a trading volume of 5,499,332 shares, compared to its average volume of 5,609,811. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $18.76. The stock’s 50 day moving average price is $10.90 and its 200-day moving average price is $11.75. The company has a debt-to-equity ratio of 2.56, a current ratio of 4.45 and a quick ratio of 2.97. The company has a market capitalization of $2.91 billion, a P/E ratio of -9.57 and a beta of 2.77.
Bloom Energy (NYSE:BE – Get Free Report) last released its earnings results on Thursday, May 9th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Bloom Energy had a negative return on equity of 19.32% and a negative net margin of 22.27%. The company had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $254.06 million. Equities research analysts forecast that Bloom Energy will post -0.17 earnings per share for the current year.
Insider Transactions at Bloom Energy
In other news, Director Eddy Zervigon sold 28,150 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $12.86, for a total value of $362,009.00. Following the transaction, the director now directly owns 111,161 shares in the company, valued at $1,429,530.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Kr Sridhar sold 40,112 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $11.93, for a total value of $478,536.16. Following the transaction, the chief executive officer now directly owns 2,742,496 shares in the company, valued at $32,717,977.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eddy Zervigon sold 28,150 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $12.86, for a total transaction of $362,009.00. Following the transaction, the director now owns 111,161 shares in the company, valued at $1,429,530.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 131,291 shares of company stock worth $1,457,413. Insiders own 3.50% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BE. Norges Bank bought a new position in Bloom Energy during the 4th quarter worth about $82,678,000. FMR LLC lifted its position in shares of Bloom Energy by 168.8% during the third quarter. FMR LLC now owns 3,524,361 shares of the company’s stock valued at $46,733,000 after buying an additional 2,213,167 shares during the last quarter. Electron Capital Partners LLC purchased a new stake in shares of Bloom Energy during the fourth quarter valued at about $27,796,000. Vanguard Group Inc. lifted its position in shares of Bloom Energy by 9.3% during the third quarter. Vanguard Group Inc. now owns 19,221,174 shares of the company’s stock valued at $254,873,000 after buying an additional 1,635,738 shares during the last quarter. Finally, Coatue Management LLC lifted its position in shares of Bloom Energy by 28.3% during the fourth quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock valued at $65,666,000 after buying an additional 978,053 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors.
Bloom Energy Company Profile
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 solid oxide technology 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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