Bloom Energy (NYSE:BE) Trading Up 4.6%

Bloom Energy Co. (NYSE:BE)’s stock price shot up 4.6% on Tuesday . The stock traded as high as $10.60 and last traded at $10.50. 726,761 shares were traded during trading, a decline of 87% from the average session volume of 5,439,900 shares. The stock had previously closed at $10.04.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $22.00 target price on shares of Bloom Energy in a report on Monday. Truist Financial raised Bloom Energy from a “sell” rating to a “hold” rating and increased their price target for the company from $9.00 to $11.00 in a report on Wednesday, March 6th. Piper Sandler dropped their price objective on shares of Bloom Energy from $14.00 to $11.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Robert W. Baird raised Bloom Energy from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $16.00 to $22.00 in a report on Wednesday, January 10th. Finally, Bank of America lowered shares of Bloom Energy from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $16.00 to $10.00 in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.44.

Bloom Energy Stock Up 2.1 %

The business has a 50-day moving average price of $10.46 and a 200 day moving average price of $12.08. The company has a current ratio of 3.60, a quick ratio of 2.53 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $2.48 billion, a P/E ratio of -7.61 and a beta of 2.76.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. The business had revenue of $356.92 million during the quarter, compared to analysts’ expectations of $481.90 million. On average, equities analysts expect that Bloom Energy Co. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of the firm’s stock in a transaction dated 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 $26,323,401.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Kr Sridhar sold 50,746 shares of the business’s 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 completion of the transaction, the chief executive officer now directly 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 available at this hyperlink. Also, EVP Shawn Marie Soderberg sold 13,120 shares of Bloom Energy stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $9.34, for a total value of $122,540.80. Following the completion of the transaction, the executive vice president now owns 73,946 shares in the company, valued at approximately $690,655.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,782 shares of company stock valued at $658,463. Company insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BE. Norges Bank acquired a new position in shares of Bloom Energy during the fourth quarter valued at about $82,678,000. FMR LLC grew its position in Bloom Energy by 168.8% during the 3rd quarter. FMR LLC now owns 3,524,361 shares of the company’s stock worth $46,733,000 after purchasing an additional 2,213,167 shares during the last quarter. Electron Capital Partners LLC purchased a new position in shares of Bloom Energy in the fourth quarter worth $27,796,000. Vanguard Group Inc. raised its stake in shares of Bloom Energy by 12.8% in the third quarter. Vanguard Group Inc. now owns 16,259,631 shares of the company’s stock worth $325,030,000 after purchasing an additional 1,842,320 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its stake in shares of Bloom Energy by 391.5% in the second quarter. Frontier Capital Management Co. LLC now owns 2,252,606 shares of the company’s stock worth $36,830,000 after acquiring an additional 1,794,303 shares during the period. 77.04% of the stock is currently owned by hedge funds and other 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.