Bloom Energy (NYSE:BE – Get Rating) issued its quarterly earnings data on Tuesday. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.20), Briefing.com reports. Bloom Energy had a negative return on equity of 738.94% and a negative net margin of 22.25%. The company had revenue of $243.24 million during the quarter, compared to analysts' expectations of $228.30 million. During the same period last year, the business earned ($0.34) earnings per share. The business's revenue was up 6.5% on a year-over-year basis. Bloom Energy updated its FY 2022 guidance to EPS.
Bloom Energy Stock Up 15.1 %
Shares of NYSE BE traded up $3.75 during midday trading on Wednesday, reaching $28.51. The company had a trading volume of 196,972 shares, compared to its average volume of 3,424,839. Bloom Energy has a one year low of $11.47 and a one year high of $37.01. The firm's fifty day moving average price is $18.22 and its 200-day moving average price is $18.97. The stock has a market cap of $5.08 billion, a PE ratio of -21.77 and a beta of 3.19.
Get Bloom Energy alerts:Wall Street Analyst Weigh In
BE has been the topic of a number of recent analyst reports. Susquehanna boosted their target price on Bloom Energy from $28.00 to $30.00 and gave the stock a "positive" rating in a report on Wednesday. Raymond James dropped their target price on Bloom Energy from $27.00 to $23.00 and set a "strong-buy" rating for the company in a research report on Tuesday, July 12th. Morgan Stanley decreased their price target on Bloom Energy from $25.00 to $21.00 and set an "equal weight" rating for the company in a research note on Monday, June 13th. Truist Financial raised their target price on Bloom Energy to $19.00 in a research note on Friday, May 27th. Finally, Northland Securities started coverage on Bloom Energy in a research note on Friday, July 8th. They set an "outperform" rating and a $28.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $25.75.
Insider Buying and Selling at Bloom Energy
In other Bloom Energy news, EVP Guillermo Brooks sold 5,860 shares of the company's stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $17.03, for a total transaction of $99,795.80. Following the completion of the transaction, the executive vice president now owns 19,140 shares of the company's stock, valued at approximately $325,954.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Bloom Energy news, EVP Guillermo Brooks sold 5,860 shares of the company's stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $17.03, for a total transaction of $99,795.80. Following the transaction, the executive vice president now owns 19,140 shares in the company, valued at approximately $325,954.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Shawn Marie Soderberg sold 3,095 shares of the company's 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 transaction, the executive vice president now owns 354,623 shares in the company, valued at approximately $6,078,238.22. The disclosure for this sale can be found here. Insiders sold 22,934 shares of company stock valued at $381,721 in the last 90 days. Insiders own 2.78% of the company's stock.Institutional Trading of Bloom Energy
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP raised its holdings in Bloom Energy by 27.8% in the 1st quarter. Quantbot Technologies LP now owns 4,673 shares of the company's stock worth $112,000 after purchasing an additional 1,017 shares during the period. Canada Pension Plan Investment Board bought a new position in Bloom Energy in the 1st quarter worth $123,000. Jasper Ridge Partners L.P. bought a new position in Bloom Energy in the 1st quarter worth $233,000. AlphaCrest Capital Management LLC bought a new position in Bloom Energy in the 1st quarter worth $337,000. Finally, XTX Topco Ltd purchased a new stake in Bloom Energy in the 1st quarter worth $391,000. Hedge funds and other institutional investors own 65.68% of the company's stock.
Bloom Energy Company Profile
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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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