Brokerages Set Bloom Energy Corporation (NYSE:BE) PT at $93.77

Bloom Energy Corporation (NYSE:BE) has been given a consensus recommendation of “Hold” by the twenty-six analysts that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $93.7727.

BE has been the topic of a number of recent analyst reports. TD Cowen increased their price objective on shares of Bloom Energy to $105.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bloom Energy in a research note on Thursday, October 30th. Susquehanna increased their target price on Bloom Energy to $157.00 and gave the company a “positive” rating in a report on Wednesday, October 29th. Roth Capital reaffirmed a “neutral” rating and set a $103.00 price target on shares of Bloom Energy in a report on Wednesday, October 29th. Finally, Robert W. Baird set a $157.00 price objective on Bloom Energy in a report on Wednesday, October 29th.

Bloom Energy Price Performance

BE stock opened at $80.05 on Tuesday. The business’s 50-day moving average is $109.86 and its two-hundred day moving average is $66.77. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. The firm has a market capitalization of $18.93 billion, a P/E ratio of 486.72, a P/E/G ratio of 48.61 and a beta of 3.00. Bloom Energy has a 1 year low of $15.15 and a 1 year high of $147.86.

Bloom Energy (NYSE:BE) last released its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The firm had revenue of $519.05 million for the quarter, compared to analyst estimates of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The business’s quarterly revenue was up 57.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) earnings per share. Analysts anticipate that Bloom Energy will post -0.23 earnings per share for the current fiscal year.

Insider Activity at Bloom Energy

In other news, insider Satish Chitoori sold 431 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $88.12, for a total transaction of $37,979.72. Following the completion of the sale, the insider owned 229,449 shares in the company, valued at approximately $20,219,045.88. The trade was a 0.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Maciej Kurzymski sold 3,264 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $86.48, for a total transaction of $282,270.72. Following the completion of the transaction, the insider directly owned 90,005 shares in the company, valued at $7,783,632.40. This trade represents a 3.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 120,410 shares of company stock valued at $16,557,185 in the last quarter. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Several hedge funds have recently made changes to their positions in BE. CWM LLC lifted its holdings in shares of Bloom Energy by 3.3% in the 3rd quarter. CWM LLC now owns 5,111 shares of the company’s stock valued at $432,000 after purchasing an additional 162 shares during the last quarter. Seelaus Asset Management LLC increased its position in Bloom Energy by 2.4% during the third quarter. Seelaus Asset Management LLC now owns 11,420 shares of the company’s stock worth $966,000 after buying an additional 270 shares during the period. Parkside Financial Bank & Trust lifted its stake in Bloom Energy by 250.9% in the third quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock valued at $33,000 after buying an additional 281 shares during the last quarter. Rothschild Investment LLC boosted its holdings in shares of Bloom Energy by 74.4% in the third quarter. Rothschild Investment LLC now owns 680 shares of the company’s stock valued at $58,000 after acquiring an additional 290 shares during the period. Finally, Prospera Financial Services Inc grew its position in shares of Bloom Energy by 0.3% during the second quarter. Prospera Financial Services Inc now owns 95,532 shares of the company’s stock worth $2,285,000 after acquiring an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

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.