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Bloom Energy (NYSE:BE) PT Raised to $29.00 at Raymond James

Defense World ·  Aug 12, 2022 13:51

Bloom Energy (NYSE:BE – Get Rating) had its target price lifted by equities researchers at Raymond James from $23.00 to $29.00 in a research report issued on Wednesday, The Fly reports. Raymond James' target price would indicate a potential downside of 0.68% from the stock's previous close.

BE has been the subject of a number of other reports. Piper Sandler started coverage on shares of Bloom Energy in a report on Wednesday, June 8th. They issued a "hold" rating and a $20.00 price target for the company. Northland Securities initiated coverage on shares of Bloom Energy in a report on Friday, July 8th. They set an "outperform" rating and a $28.00 price objective for the company. Truist Financial raised their price objective on shares of Bloom Energy to $19.00 in a report on Friday, May 27th. Susquehanna Bancshares raised their price objective on shares of Bloom Energy from $28.00 to $30.00 and gave the stock a "positive" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Bloom Energy from $29.00 to $31.00 and gave the stock an "overweight" rating in a report on Monday. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Bloom Energy currently has a consensus rating of "Moderate Buy" and an average price target of $28.71.

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Bloom Energy Stock Down 0.3 %

Shares of BE opened at $29.20 on Wednesday. The company's fifty day moving average is $18.68 and its 200-day moving average is $19.14. Bloom Energy has a 12 month low of $11.47 and a 12 month high of $37.01. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of -18.25 and a beta of 3.19.

Bloom Energy (NYSE:BE – Get Rating) last posted its earnings results on Tuesday, August 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.20). Bloom Energy had a negative net margin of 28.46% and a negative return on equity of 738.94%. 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 business posted ($0.34) EPS. Bloom Energy's revenue was up 6.5% compared to the same quarter last year. As a group, research analysts predict that Bloom Energy will post -0.96 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Guillermo Brooks sold 5,860 shares of the company's stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $17.03, for a total value of $99,795.80. Following the completion of the transaction, the executive vice president now owns 19,140 shares in the company, valued at $325,954.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Shawn Marie Soderberg sold 2,397 shares of the stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $15.72, for a total transaction of $37,680.84. Following the completion of the transaction, the executive vice president now owns 357,718 shares in the company, valued at $5,623,326.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Guillermo Brooks sold 5,860 shares of the stock in a transaction 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 of the company's stock, valued at approximately $325,954.20. The disclosure for this sale can be found here. Insiders sold 22,934 shares of company stock worth $381,721 over the last quarter. 2.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

Several large investors have recently modified their holdings of the stock. Allworth Financial LP bought a new position in Bloom Energy during the first quarter worth about $32,000. Resolute Advisors LLC bought a new position in Bloom Energy during the second quarter worth about $28,000. Millburn Ridgefield Corp increased its position in 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 acquiring an additional 1,375 shares during the period. Catalyst Capital Advisors LLC increased its position in 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 acquiring an additional 1,375 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in Bloom Energy during the first quarter worth about $68,000. 65.68% of the stock is owned by institutional investors.

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.

Further Reading

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