Bloom Energy (NYSE:BE) PT Raised to $33.00

Defense World · Aug 12, 2022 17:31

Bloom Energy (NYSE:BE – Get Rating) had its target price lifted by equities researchers at KeyCorp from $24.00 to $33.00 in a research report issued on Wednesday, Stock Target Advisor reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's price target indicates a potential upside of 13.01% from the stock's current price.

Other research analysts have also issued reports about the company. Morgan Stanley reduced their price target on Bloom Energy from $25.00 to $21.00 and set an "equal weight" rating on the stock in a research report on Monday, June 13th. Raymond James reduced their price target on Bloom Energy from $27.00 to $23.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, July 12th. Truist Financial raised their price target on Bloom Energy to $19.00 in a research report on Friday, May 27th. Susquehanna Bancshares decreased their target price on Bloom Energy from $33.00 to $28.00 in a research note on Tuesday, May 10th. Finally, Piper Sandler started coverage on Bloom Energy in a report on Wednesday, June 8th. They issued a "hold" rating and a $20.00 price target for the company. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $28.71.

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Bloom Energy Stock Performance

Shares of BE opened at $29.20 on Wednesday. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of -18.25 and a beta of 3.19. The business's fifty day moving average price is $18.68 and its two-hundred day moving average price is $19.14. Bloom Energy has a 52 week low of $11.47 and a 52 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 28.46%. 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. As a group, research analysts forecast that Bloom Energy will post -0.96 EPS for the current year.

Insider Buying and Selling

In related news, EVP Shawn Marie Soderberg sold 3,095 shares of the stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $17.14, for a total transaction of $53,048.30. Following the completion of the transaction, the executive vice president now directly owns 354,623 shares in the company, valued at $6,078,238.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Bloom Energy news, EVP Shawn Marie Soderberg sold 3,095 shares of the firm'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 completion of the transaction, the executive vice president now directly owns 354,623 shares in the company, valued at $6,078,238.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kr Sridhar sold 10,937 shares of the firm's stock in a transaction that occurred 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 owns 501,938 shares of the company's stock, valued at $8,347,228.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,934 shares of company stock worth $381,721. 2.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BE. Allspring Global Investments Holdings LLC bought a new position in shares of Bloom Energy during the 4th quarter worth approximately $858,000. Commonwealth Equity Services LLC boosted its stake in shares of Bloom Energy by 8.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 66,297 shares of the company's stock worth $1,453,000 after acquiring an additional 5,055 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Bloom Energy by 588.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 895,530 shares of the company's stock worth $19,639,000 after purchasing an additional 765,479 shares during the last quarter. Banque Pictet & Cie SA acquired a new stake in Bloom Energy during the 4th quarter worth approximately $566,000. Finally, KBC Group NV lifted its holdings in Bloom Energy by 56.5% during the 4th quarter. KBC Group NV now owns 227,734 shares of the company's stock worth $4,994,000 after purchasing an additional 82,202 shares during the last quarter. 65.68% of the stock is currently 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.

Bloom Energy (NYSE:BE) PT Raised to $33.00

Bloom Energy Stock Performance

Insider Buying and Selling

Institutional Inflows and Outflows

About Bloom Energy

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