Bloom Energy (NYSE:BE – Get Rating) had its target price hoisted by Credit Suisse Group from $32.00 to $33.00 in a research report report published on Thursday morning, MarketBeat Ratings reports. They currently have an outperform rating on the stock.
Several other equities analysts have also recently commented on BE. JPMorgan Chase & Co. upped their target price on shares of Bloom Energy from $29.00 to $31.00 and gave the company an overweight rating in a research note on Monday. Susquehanna upped their price objective on shares of Bloom Energy from $28.00 to $30.00 and gave the company a positive rating in a research report on Wednesday. BMO Capital Markets increased their target price on shares of Bloom Energy from $20.00 to $29.00 in a research note on Thursday. Raymond James boosted their price target on Bloom Energy from $23.00 to $29.00 in a research note on Wednesday. Finally, Morgan Stanley reduced their price objective on Bloom Energy from $25.00 to $21.00 and set an equal weight rating for the company in a research report on Monday, June 13th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $28.71.
Get Bloom Energy alerts:Bloom Energy Price Performance
Shares of NYSE BE traded up $1.76 during trading hours on Thursday, hitting $30.96. 96,739 shares of the stock were exchanged, compared to its average volume of 2,863,956. Bloom Energy has a one year low of $11.47 and a one year high of $37.01. The company's 50 day moving average is $18.68 and its 200 day moving average is $19.14.
Bloom Energy (NYSE:BE – Get Rating) last released its earnings results on Tuesday, August 9th. The company reported ($0.20) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.20). The firm had revenue of $243.24 million during the quarter, compared to analyst estimates of $228.30 million. Bloom Energy had a negative net margin of 28.46% and a negative return on equity of 738.94%. The business's revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.34) EPS. On average, sell-side analysts predict that Bloom Energy will post -0.96 EPS for the current year.Insiders Place Their Bets
In related news, EVP Shawn Marie Soderberg sold 3,095 shares of the stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $17.14, for a total transaction of $53,048.30. Following the completion of the sale, the executive vice president now owns 354,623 shares in the company, valued at approximately $6,078,238.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Bloom Energy news, EVP Shawn Marie Soderberg sold 3,095 shares of Bloom Energy stock in a transaction 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 owns 354,623 shares in the company, valued at approximately $6,078,238.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kr Sridhar sold 10,937 shares of the stock in a transaction on Friday, June 17th. The stock was 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 in the company, valued at approximately $8,347,228.94. The disclosure for this sale can be found here. Insiders sold 22,934 shares of company stock worth $381,721 over the last three months. 2.78% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Allworth Financial LP bought a new stake in shares of Bloom Energy during the first quarter worth approximately $32,000. Resolute Advisors LLC acquired a new stake in Bloom Energy during the 2nd quarter worth $28,000. Millburn Ridgefield Corp raised its position in shares of Bloom Energy by 209.3% during the 1st quarter. Millburn Ridgefield Corp now owns 2,032 shares of the company's stock valued at $49,000 after acquiring an additional 1,375 shares during the last quarter. Catalyst Capital Advisors LLC grew its stake 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 purchasing an additional 1,375 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in Bloom Energy in the first quarter valued at about $68,000. 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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