Bloom Energy (NYSE:BE) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Bloom Energy (NYSE:BEFree Report) in a report published on Thursday morning, Benzinga reports. They currently have a $15.00 price target on the stock.

A number of other analysts have also recently issued reports on the company. Evercore ISI lowered their price objective on Bloom Energy from $21.00 to $20.00 and set an outperform rating on the stock in a research report on Friday, May 10th. Morgan Stanley reaffirmed an overweight rating and issued a $22.00 price target on shares of Bloom Energy in a research note on Monday, March 25th. Susquehanna decreased their price target on Bloom Energy from $18.00 to $16.00 and set a positive rating on the stock in a research note on Wednesday, March 27th. TD Cowen boosted their price target on Bloom Energy from $10.00 to $13.00 and gave the company a hold rating in a research note on Friday, May 10th. Finally, Wells Fargo & Company boosted their price target on Bloom Energy from $12.00 to $14.00 and gave the company an equal weight rating in a research note on Monday, May 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $15.69.

Check Out Our Latest Report on Bloom Energy

Bloom Energy Stock Performance

BE opened at $12.82 on Thursday. The stock has a market cap of $2.91 billion, a PE ratio of -9.50 and a beta of 2.83. The company has a current ratio of 4.45, a quick ratio of 2.97 and a debt-to-equity ratio of 2.56. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $18.76. The stock’s 50 day simple moving average is $13.05 and its 200-day simple moving average is $12.19.

Bloom Energy (NYSE:BEGet Free Report) last released its quarterly earnings data 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 firm had revenue of $235.30 million for the quarter, compared to the consensus estimate of $254.06 million. Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. Sell-side analysts forecast that Bloom Energy will post -0.26 EPS for the current year.

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 8,963 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Eddy Zervigon sold 28,150 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $12.86, for a total transaction of $362,009.00. Following the transaction, the director now owns 111,161 shares of the company’s stock, valued at $1,429,530.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 8,963 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $9.86, for a total value of $88,375.18. Following the transaction, the insider now directly owns 168,003 shares in the company, valued at approximately $1,656,509.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,385 shares of company stock valued at $943,038. 8.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BE. Janney Montgomery Scott LLC increased its holdings in Bloom Energy by 184.0% in the third quarter. Janney Montgomery Scott LLC now owns 54,410 shares of the company’s stock valued at $721,000 after purchasing an additional 35,249 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Bloom Energy by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,578,670 shares of the company’s stock worth $20,933,000 after acquiring an additional 113,430 shares in the last quarter. UBS Group AG increased its holdings in shares of Bloom Energy by 33.3% in the third quarter. UBS Group AG now owns 750,713 shares of the company’s stock worth $9,954,000 after acquiring an additional 187,501 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Bloom Energy by 4.6% in the third quarter. Rhumbline Advisers now owns 282,862 shares of the company’s stock worth $3,751,000 after acquiring an additional 12,358 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its holdings in shares of Bloom Energy by 2.0% in the third quarter. Rafferty Asset Management LLC now owns 149,570 shares of the company’s stock worth $1,983,000 after acquiring an additional 2,929 shares in the last quarter. Institutional investors own 77.04% of the company’s stock.

About Bloom Energy

(Get Free Report)

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.

See Also

Analyst Recommendations for Bloom Energy (NYSE:BE)

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