Bloom Energy (NYSE:BE) Price Target Raised to $129.00 at JPMorgan Chase & Co.

Bloom Energy (NYSE:BE) had its price target lifted by JPMorgan Chase & Co. to $129.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently issued reports on BE. TD Cowen lifted their target price on Bloom Energy to $105.00 and gave the company a “hold” rating in a research report on Wednesday. Hsbc Global Res cut Bloom Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. HSBC raised Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research report on Wednesday. UBS Group boosted their price objective on Bloom Energy to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Finally, Mizuho set a $89.00 price objective on Bloom Energy in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and an average price target of $94.55.

Bloom Energy Stock Up 17.1%

Shares of NYSE:BE opened at $132.66 on Wednesday. The stock has a market cap of $31.04 billion, a price-to-earnings ratio of 3,316.53, a PEG ratio of 179.68 and a beta of 3.48. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. Bloom Energy has a 12-month low of $9.59 and a 12-month high of $144.20. The business’s 50 day moving average is $79.75 and its 200 day moving average is $43.98.

Bloom Energy (NYSE:BE) last announced its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.07. The company had revenue of $519.05 million for the quarter, compared to analysts’ expectations of $425.18 million. Bloom Energy had a return on equity of 9.02% and a net margin of 0.84%.Bloom Energy’s quarterly revenue was up 57.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. On average, sell-side analysts forecast that Bloom Energy will post -0.23 earnings per share for the current fiscal year.

Insider Transactions at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 37,955 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $53.39, for a total value of $2,026,417.45. Following the sale, the chief executive officer directly owned 2,378,663 shares in the company, valued at $126,996,817.57. The trade was a 1.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Aman Joshi sold 4,870 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $43.36, for a total value of $211,163.20. Following the completion of the sale, the insider owned 224,361 shares in the company, valued at approximately $9,728,292.96. The trade was a 2.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 301,193 shares of company stock valued at $14,893,710. 3.60% of the stock is currently owned by insiders.

Institutional Trading of Bloom Energy

Several hedge funds have recently made changes to their positions in the company. Arkadios Wealth Advisors bought a new stake in shares of Bloom Energy in the third quarter valued at $533,000. Intrua Financial LLC bought a new stake in shares of Bloom Energy in the third quarter valued at $237,000. QRG Capital Management Inc. bought a new stake in shares of Bloom Energy in the third quarter valued at $345,000. Stephens Investment Management Group LLC bought a new stake in shares of Bloom Energy in the third quarter valued at $41,814,000. Finally, Ritholtz Wealth Management bought a new stake in shares of Bloom Energy in the third quarter valued at $480,000. 77.04% of the stock is currently owned by institutional investors.

About Bloom Energy

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 solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.