Analysts Set Bloom Energy Corporation (NYSE:BE) Target Price at $22.97

Shares of Bloom Energy Corporation (NYSE:BEGet Free Report) have been given a consensus rating of “Moderate Buy” by the twenty research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $22.97.

Several research analysts have issued reports on BE shares. Redburn Atlantic cut shares of Bloom Energy from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $14.50 to $10.00 in a report on Wednesday, April 9th. Piper Sandler dropped their price objective on shares of Bloom Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. BMO Capital Markets reissued a “market perform” rating on shares of Bloom Energy in a report on Friday, February 28th. Robert W. Baird lowered their target price on Bloom Energy from $32.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Finally, Mizuho raised Bloom Energy from a “neutral” rating to an “outperform” rating and dropped their target price for the company from $28.00 to $26.00 in a research report on Monday, May 5th.

View Our Latest Analysis on BE

Bloom Energy Stock Up 3.3%

Shares of NYSE BE opened at $22.31 on Tuesday. Bloom Energy has a 52-week low of $9.02 and a 52-week high of $29.83. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of -446.11 and a beta of 3.20. The stock has a 50 day moving average price of $19.54 and a 200 day moving average price of $21.79. The company has a debt-to-equity ratio of 2.07, a quick ratio of 2.39 and a current ratio of 3.44.

Bloom Energy (NYSE:BEGet Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.10. Bloom Energy had a return on equity of 2.51% and a net margin of 0.29%. The business had revenue of $326.02 million during the quarter, compared to analyst estimates of $294.27 million. During the same period in the previous year, the company posted ($0.17) EPS. Bloom Energy’s revenue was up 38.5% on a year-over-year basis. Sell-side analysts expect that Bloom Energy will post -0.23 earnings per share for the current year.

Insider Activity

In other Bloom Energy news, insider Shawn Marie Soderberg sold 2,780 shares of Bloom Energy stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total transaction of $54,821.60. Following the completion of the sale, the insider now owns 152,890 shares of the company’s stock, valued at approximately $3,014,990.80. The trade was a 1.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Aman Joshi sold 4,658 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total value of $91,855.76. Following the completion of the transaction, the insider now owns 131,371 shares of the company’s stock, valued at approximately $2,590,636.12. The trade was a 3.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,501 shares of company stock worth $1,236,191 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Bloom Energy

Several institutional investors and hedge funds have recently bought and sold shares of BE. Norges Bank purchased a new stake in shares of Bloom Energy in the fourth quarter worth about $93,951,000. Fuller & Thaler Asset Management Inc. acquired a new position in Bloom Energy in the fourth quarter valued at approximately $61,968,000. Trivest Advisors Ltd acquired a new position in Bloom Energy in the fourth quarter valued at approximately $30,539,000. Tree Line Advisors Hong Kong Ltd. purchased a new stake in Bloom Energy in the 1st quarter worth approximately $22,609,000. Finally, Voloridge Investment Management LLC grew its stake in shares of Bloom Energy by 323.6% during the 4th quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company’s stock worth $31,992,000 after purchasing an additional 1,100,352 shares during the period. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.

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