Bloom Energy (NYSE:BE) PT Raised to $21.00

Bloom Energy (NYSE:BE) had its price target increased by research analysts at BTIG Research from $19.00 to $21.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target would suggest a potential upside of 41.60% from the stock’s current price.

Several other equities research analysts have also commented on the stock. BMO Capital Markets lowered their price target on shares of Bloom Energy from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Friday, February 16th. Truist Financial upgraded Bloom Energy from a “sell” rating to a “hold” rating and lifted their price target for the company from $9.00 to $11.00 in a research report on Wednesday, March 6th. Wells Fargo & Company upped their price objective on Bloom Energy from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Monday, May 20th. KeyCorp lowered shares of Bloom Energy from an “overweight” rating to a “sector weight” rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. downgraded shares of Bloom Energy from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $19.00 to $14.00 in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $15.64.

Bloom Energy Price Performance

Shares of NYSE BE opened at $14.83 on Thursday. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $18.76. The company has a market cap of $3.37 billion, a PE ratio of -10.99 and a beta of 2.83. The company has a debt-to-equity ratio of 2.56, a quick ratio of 2.97 and a current ratio of 4.45. The business has a 50-day simple moving average of $12.51 and a two-hundred day simple moving average of $12.19.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The company had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $254.06 million. Bloom Energy had a negative return on equity of 19.32% and a negative net margin of 22.27%. As a group, equities analysts expect that Bloom Energy will post -0.26 EPS for the current fiscal year.

Insider Activity

In other news, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $9.74, for a total value of $494,266.04. Following the completion of the sale, the chief executive officer now owns 2,702,608 shares of the company’s stock, valued at approximately $26,323,401.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of Bloom Energy stock in a transaction on Monday, March 18th. The stock was sold at an average price of $9.74, for a total value of $494,266.04. Following the sale, the chief executive officer now owns 2,702,608 shares in the company, valued at $26,323,401.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 8,963 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total value of $88,375.18. Following the transaction, the insider now owns 168,003 shares of the company’s stock, valued at $1,656,509.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 131,291 shares of company stock valued at $1,457,413. 8.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors have recently modified their holdings of BE. DekaBank Deutsche Girozentrale lifted its position in shares of Bloom Energy by 762.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 504,591 shares of the company’s stock worth $5,712,000 after purchasing an additional 446,074 shares in the last quarter. Boston Partners purchased a new stake in Bloom Energy during the 1st quarter worth approximately $711,000. Cetera Advisors LLC lifted its holdings in Bloom Energy by 201.2% during the 1st quarter. Cetera Advisors LLC now owns 37,019 shares of the company’s stock worth $416,000 after buying an additional 24,730 shares in the last quarter. Comerica Bank boosted its position in Bloom Energy by 222.8% in the 1st quarter. Comerica Bank now owns 23,884 shares of the company’s stock valued at $268,000 after buying an additional 16,484 shares during the period. Finally, Tidal Investments LLC acquired a new position in shares of Bloom Energy in the first quarter worth $370,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Company Profile

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.