Weiss Ratings Reiterates “Hold (C)” Rating for Bloom Energy (NYSE:BE)

Bloom Energy (NYSE:BE)‘s stock had its “hold (c)” rating reaffirmed by analysts at Weiss Ratings in a research note issued on Thursday,Weiss Ratings reports.

A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Bloom Energy to $129.00 and gave the stock an “overweight” rating in a research note on Wednesday. TD Cowen increased their price objective on shares of Bloom Energy to $105.00 and gave the stock a “hold” rating in a research note on Wednesday. BMO Capital Markets set a $136.00 price objective on shares of Bloom Energy in a research note on Wednesday. HSBC upgraded shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Wednesday. Finally, Evercore ISI restated an “outperform” rating on shares of Bloom Energy in a research note on Monday, October 13th. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Bloom Energy currently has an average rating of “Moderate Buy” and an average price target of $95.65.

Bloom Energy Price Performance

BE opened at $132.51 on Thursday. The company has a quick ratio of 3.21, a current ratio of 4.40 and a debt-to-equity ratio of 1.98. Bloom Energy has a 12 month low of $9.59 and a 12 month high of $144.20. The company has a fifty day simple moving average of $83.10 and a 200 day simple moving average of $45.36. The stock has a market cap of $31.01 billion, a P/E ratio of 710.28, a P/E/G ratio of 228.14 and a beta of 3.48.

Bloom Energy (NYSE:BE) last announced 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 during 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 company’s revenue for the quarter was up 57.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) EPS. On average, research analysts expect that Bloom Energy will post -0.23 EPS for the current year.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Aman Joshi sold 4,870 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $43.36, for a total value of $211,163.20. Following the transaction, the insider directly owned 224,361 shares of the company’s stock, valued at $9,728,292.96. This represents a 2.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Maciej Kurzymski sold 2,474 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $70.47, for a total transaction of $174,342.78. Following the completion of the transaction, the insider directly owned 106,374 shares in the company, valued at approximately $7,496,175.78. This represents a 2.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 301,193 shares of company stock worth $14,893,710. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BE. Norges Bank bought a new position in shares of Bloom Energy during the second quarter worth approximately $57,821,000. Man Group plc increased its holdings in shares of Bloom Energy by 177.4% during the second quarter. Man Group plc now owns 2,392,915 shares of the company’s stock worth $57,239,000 after purchasing an additional 1,530,167 shares during the period. Elemental Capital Partners LLC bought a new position in shares of Bloom Energy during the third quarter worth approximately $101,720,000. Tree Line Advisors Hong Kong Ltd. bought a new position in shares of Bloom Energy during the first quarter worth approximately $22,609,000. Finally, Driehaus Capital Management LLC bought a new position in shares of Bloom Energy during the first quarter worth approximately $21,066,000. 77.04% of the stock is owned by institutional investors.

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.