China Renaissance Begins Coverage on Bloom Energy (NYSE:BE)

Equities researchers at China Renaissance started coverage on shares of Bloom Energy (NYSE:BE) in a research report issued on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $207.00 price target on the stock. China Renaissance’s price objective suggests a potential upside of 30.28% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Royal Bank Of Canada set a $143.00 price target on Bloom Energy in a report on Tuesday, January 20th. Susquehanna raised their price target on Bloom Energy to $157.00 and gave the company a “positive” rating in a report on Wednesday, October 29th. Wells Fargo & Company upped their price objective on shares of Bloom Energy to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. BTIG Research upped their target price on Bloom Energy to $145.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price target on Bloom Energy to $129.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bloom Energy currently has a consensus rating of “Hold” and an average price target of $109.83.

Bloom Energy Trading Up 4.3%

BE opened at $158.89 on Wednesday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40. Bloom Energy has a twelve month low of $15.15 and a twelve month high of $155.87. The firm’s fifty day moving average is $109.89 and its two-hundred day moving average is $86.14. The firm has a market cap of $37.58 billion, a PE ratio of 775.67, a price-to-earnings-growth ratio of 11.76 and a beta of 3.01.

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

Insider Buying and Selling

In related news, insider Maciej Kurzymski sold 13,105 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $144.09, for a total transaction of $1,888,299.45. Following the completion of the sale, the insider owned 93,269 shares of the company’s stock, valued at $13,439,130.21. This represents a 12.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Aman Joshi sold 4,543 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $109.13, for a total transaction of $495,777.59. Following the sale, the insider owned 219,818 shares in the company, valued at $23,988,738.34. The trade was a 2.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 120,410 shares of company stock valued at $16,557,185 in the last ninety days. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently modified their holdings of BE. Fifth Third Bancorp bought a new stake in shares of Bloom Energy during the 3rd quarter worth $32,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Bloom Energy in the 3rd quarter valued at approximately $32,000. Parkside Financial Bank & Trust increased its position in Bloom Energy by 250.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock worth $33,000 after purchasing an additional 281 shares in the last quarter. Cranbrook Wealth Management LLC acquired a new position in Bloom Energy during the 3rd quarter worth approximately $39,000. Finally, Lodestone Wealth Management LLC bought a new position in Bloom Energy in the 4th quarter valued at approximately $43,000. Institutional investors own 77.04% of the company’s stock.

About Bloom Energy

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.