Bloom Energy (NYSE:BE – Get Rating) had its price target raised by equities research analysts at Susquehanna Bancshares from $28.00 to $30.00 in a research note issued on Wednesday, Stock Target Advisor reports. The firm currently has a "positive" rating on the stock. Susquehanna Bancshares' price objective would indicate a potential upside of 4.31% from the stock's current price.
A number of other brokerages also recently weighed in on BE. Truist Financial increased their price target on shares of Bloom Energy to $19.00 in a research report on Friday, May 27th. Piper Sandler began coverage on shares of Bloom Energy in a report on Wednesday, June 8th. They issued a "hold" rating and a $20.00 target price on the stock. Morgan Stanley decreased their price target on shares of Bloom Energy from $25.00 to $21.00 and set an "equal weight" rating for the company in a report on Monday, June 13th. Raymond James dropped their price objective on Bloom Energy from $27.00 to $23.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, July 12th. Finally, KeyCorp boosted their target price on Bloom Energy from $24.00 to $33.00 and gave the company an "overweight" rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $25.92.
Get Bloom Energy alerts:Bloom Energy Stock Performance
BE traded up $4.00 during trading on Wednesday, reaching $28.76. 200,130 shares of the company's stock were exchanged, compared to its average volume of 3,424,839. The company's fifty day moving average price is $18.22 and its 200-day moving average price is $18.97. The firm has a market capitalization of $5.13 billion, a PE ratio of -23.19 and a beta of 3.19. Bloom Energy has a fifty-two week low of $11.47 and a fifty-two week high of $37.01.
Bloom Energy (NYSE:BE – Get Rating) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). Bloom Energy had a negative return on equity of 738.94% and a negative net margin of 22.25%. The business had revenue of $243.24 million for the quarter, compared to analyst estimates of $228.30 million. During the same period last year, the company earned ($0.34) EPS. The firm's revenue was up 6.5% on a year-over-year basis. Research analysts forecast that Bloom Energy will post -0.96 earnings per share for the current fiscal year.Insider Activity
In other Bloom Energy news, CEO Kr Sridhar sold 10,937 shares of the business's stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $16.63, for a total transaction of $181,882.31. Following the sale, the chief executive officer now directly owns 501,938 shares of the company's stock, valued at approximately $8,347,228.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Shawn Marie Soderberg sold 3,095 shares of the stock in a transaction that occurred on Friday, June 17th. The stock was sold at an average price of $17.14, for a total value of $53,048.30. Following the completion of the sale, the executive vice president now owns 354,623 shares of the company's stock, valued at approximately $6,078,238.22. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kr Sridhar sold 10,937 shares of the business's stock in a transaction on Friday, June 17th. The stock was sold at an average price of $16.63, for a total transaction of $181,882.31. Following the transaction, the chief executive officer now owns 501,938 shares in the company, valued at $8,347,228.94. The disclosure for this sale can be found here. Insiders have sold 22,934 shares of company stock worth $381,721 over the last ninety days. Insiders own 2.78% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the company. Resolute Advisors LLC acquired a new stake in Bloom Energy during the 2nd quarter valued at $28,000. Allworth Financial LP acquired a new stake in shares of Bloom Energy during the 1st quarter worth about $32,000. Millburn Ridgefield Corp increased its stake in shares of Bloom Energy by 209.3% during the first 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. Catalyst Capital Advisors LLC lifted its holdings in shares of Bloom Energy by 209.3% during the first quarter. Catalyst Capital Advisors LLC now owns 2,032 shares of the company's stock worth $49,000 after buying an additional 1,375 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in Bloom Energy in the 1st quarter valued at about $68,000. 65.68% of the stock is currently owned by institutional investors and hedge funds.
About Bloom Energy
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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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