Bloom Energy (NYSE:BE – Get Rating) had its price objective hoisted by equities researchers at Susquehanna Bancshares from $28.00 to $30.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. The firm currently has a "positive" rating on the stock. Susquehanna Bancshares' target price suggests a potential upside of 2.74% from the company's previous close.
Several other equities research analysts have also commented on BE. JPMorgan Chase & Co. boosted their price target on shares of Bloom Energy from $29.00 to $31.00 and gave the company an "overweight" rating in a report on Monday. Truist Financial boosted their target price on shares of Bloom Energy to $19.00 in a research report on Friday, May 27th. Morgan Stanley dropped their price objective on shares of Bloom Energy from $25.00 to $21.00 and set an "equal weight" rating on the stock in a report on Monday, June 13th. Northland Securities began coverage on shares of Bloom Energy in a report on Friday, July 8th. They set an "outperform" rating and a $28.00 price target on the stock. Finally, Raymond James reduced their price objective on shares of 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. Five equities research 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 a consensus target price of $28.71.
Get Bloom Energy alerts:Bloom Energy Price Performance
Shares of BE stock opened at $29.20 on Wednesday. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of -18.25 and a beta of 3.19. Bloom Energy has a one year low of $11.47 and a one year high of $37.01. The company's fifty day moving average price is $18.68 and its 200-day moving average price is $19.14.
Bloom Energy (NYSE:BE – Get Rating) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.20) EPS for the quarter, hitting 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 during the quarter, compared to analysts' expectations of $228.30 million. During the same period last year, the company posted ($0.34) EPS. The business's revenue was up 6.5% on a year-over-year basis. Equities research analysts expect that Bloom Energy will post -0.96 earnings per share for the current fiscal year.Insider Activity at Bloom Energy
In other news, CEO Kr Sridhar sold 10,937 shares of the company's stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $16.63, for a total value of $181,882.31. Following the sale, the chief executive officer now owns 501,938 shares of the company's stock, valued at approximately $8,347,228.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Kr Sridhar sold 10,937 shares of the firm's stock in a transaction on Friday, June 17th. The shares were sold at an average price of $16.63, for a total value of $181,882.31. Following the completion of the transaction, the chief executive officer now directly owns 501,938 shares of the company's stock, valued at $8,347,228.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Guillermo Brooks sold 5,860 shares of Bloom Energy stock in a transaction on Monday, July 18th. The stock was sold at an average price of $17.03, for a total value of $99,795.80. Following the sale, the executive vice president now directly owns 19,140 shares of the company's stock, valued at approximately $325,954.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,934 shares of company stock valued at $381,721. Corporate insiders own 2.78% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System boosted its position in shares of Bloom Energy by 1.8% during the first quarter. Arizona State Retirement System now owns 39,934 shares of the company's stock valued at $964,000 after purchasing an additional 687 shares in the last quarter. Itau Unibanco Holding S.A. raised its position in Bloom Energy by 13.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 7,047 shares of the company's stock valued at $154,000 after purchasing an additional 840 shares during the period. Flputnam Investment Management Co. raised its position in Bloom Energy by 8.0% during the fourth quarter. Flputnam Investment Management Co. now owns 11,597 shares of the company's stock valued at $254,000 after purchasing an additional 863 shares during the period. Quantbot Technologies LP raised its holdings in shares of Bloom Energy by 27.8% in the first quarter. Quantbot Technologies LP now owns 4,673 shares of the company's stock worth $112,000 after buying an additional 1,017 shares during the period. Finally, Defender Capital LLC. grew its stake in Bloom Energy by 0.7% in the second quarter. Defender Capital LLC. now owns 152,100 shares of the company's stock worth $2,510,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors own 65.68% of the company's stock.
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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