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

Bloom Energy (NYSE:BE)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank Of Canada in a research note issued on Monday, Benzinga reports. They currently have a $335.00 price target on the stock. Royal Bank Of Canada‘s price target would suggest a potential upside of 93.25% from the company’s previous close.

A number of other research analysts have also recently commented on BE. Jefferies Financial Group reiterated a “hold” rating and issued a $242.00 price objective on shares of Bloom Energy in a report on Friday, October 23rd. Citigroup increased their price objective on Bloom Energy from $281.00 to $284.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. KeyCorp reissued a “sector weight” rating on shares of Bloom Energy in a research note on Friday, October 23rd. Sanford C. Bernstein lifted their target price on Bloom Energy from $282.00 to $306.00 and gave the company a “market perform” rating in a research report on Friday, October 23rd. Finally, Mizuho upped their price target on Bloom Energy from $242.00 to $351.00 and gave the company an “outperform” rating in a research note on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $263.05.

Bloom Energy Price Performance

Shares of BE stock opened at $173.35 on Monday. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.74 and a quick ratio of 3.08. The firm’s 50-day moving average is $246.00 and its two-hundred day moving average is $220.98. Bloom Energy has a 12 month low of $75.70 and a 12 month high of $351.28. The company has a market capitalization of $51.25 billion, a PE ratio of 106.35, a price-to-earnings-growth ratio of 1.75 and a beta of 3.63.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.25. Bloom Energy had a net margin of 13.53% and a return on equity of 45.29%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the company posted $0.15 EPS. The business’s revenue for the quarter was up 138.1% on a year-over-year basis. Analysts predict that Bloom Energy will post 2.61 earnings per share for the current year.

Insider Buying and Selling

In other Bloom Energy news, insider Satish Chitoori sold 2,870 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $270.06, for a total transaction of $775,072.20. Following the sale, the insider directly owned 202,494 shares in the company, valued at $54,685,529.64. This represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John Chambers sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $250.00, for a total transaction of $3,750,000.00. Following the sale, the director owned 208,333 shares in the company, valued at $52,083,250. This trade represents a 6.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 85,859 shares of company stock worth $20,994,650 over the last 90 days. 3.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Bloom Energy

Several large investors have recently added to or reduced their stakes in BE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Bloom Energy by 78.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,327,549 shares of the company’s stock worth $401,849,000 after acquiring an additional 583,135 shares during the period. Jennison Associates LLC raised its stake in shares of Bloom Energy by 20,074.4% in the first quarter. Jennison Associates LLC now owns 2,687,029 shares of the company’s stock valued at $364,066,000 after acquiring an additional 2,673,710 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Bloom Energy by 6.1% in the first quarter. Bank of America Corp DE now owns 2,211,880 shares of the company’s stock valued at $299,688,000 after acquiring an additional 126,649 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Bloom Energy in the second quarter valued at $296,413,000. Finally, Elemental Capital Partners LLC boosted its holdings in Bloom Energy by 2.5% in the third quarter. Elemental Capital Partners LLC now owns 1,039,031 shares of the company’s stock valued at $287,791,000 after purchasing an additional 25,625 shares during the period. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Company Profile

Bloom Energy Corporation develops solid oxide fuel cell technology for on-site electricity generation and hydrogen production. Its Bloom Energy Server systems generate power near the point of use, helping businesses and institutions meet electricity needs and support resilient energy operations. The company also offers solid oxide electrolyzers designed to produce hydrogen.

Founded in 2001 by K.R. Sridhar, Bloom Energy is headquartered in San Jose, California. It serves customers in the United States and international markets, including countries in Asia.