Bloom Energy (NYSE:BE) Price Target Raised to $39.00

Bloom Energy (NYSE:BE) had its price target hoisted by Bank of America from $26.00 to $39.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Bank of America currently has an underperform rating on the stock.

A number of other equities research analysts also recently issued reports on BE. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $123.00 price objective on shares of Bloom Energy in a research report on Monday, October 20th. Jefferies Financial Group reaffirmed an “underperform” rating and set a $53.00 price target on shares of Bloom Energy in a research report on Friday, October 31st. Susquehanna boosted their price objective on Bloom Energy to $157.00 and gave the stock a “positive” rating in a research report on Wednesday, October 29th. Evercore ISI reaffirmed an “outperform” rating on shares of Bloom Energy in a research report on Monday, October 13th. Finally, Zacks Research downgraded shares of Bloom Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Bloom Energy currently has a consensus rating of “Hold” and an average price target of $93.57.

Bloom Energy Trading Up 7.3%

NYSE BE opened at $101.19 on Tuesday. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. The business has a fifty day simple moving average of $104.18 and a 200 day simple moving average of $58.25. Bloom Energy has a 12 month low of $15.15 and a 12 month high of $147.86. The firm has a market capitalization of $23.93 billion, a P/E ratio of 561.89, a PEG ratio of 63.88 and a beta of 3.43.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The firm had revenue of $519.05 million for the quarter, compared to the consensus estimate of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The business’s revenue for the quarter was up 57.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.01) EPS. On average, analysts predict that Bloom Energy will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling at Bloom Energy

In related news, insider Aman Joshi sold 4,543 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $109.13, for a total transaction of $495,777.59. Following the sale, the insider directly owned 219,818 shares in the company, valued at approximately $23,988,738.34. The trade was a 2.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jim H. Snabe sold 20,000 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $143.04, for a total value of $2,860,800.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 119,589 shares of company stock worth $16,439,742. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Graticule Asia Macro Advisors LLC purchased a new position in Bloom Energy during the third quarter valued at approximately $402,494,000. Trivest Advisors Ltd lifted its stake in Bloom Energy by 1,461.6% in the 3rd quarter. Trivest Advisors Ltd now owns 3,420,000 shares of the company’s stock worth $289,229,000 after purchasing an additional 3,201,000 shares in the last quarter. Norges Bank bought a new position in Bloom Energy in the 2nd quarter valued at $57,821,000. Westfield Capital Management Co. LP purchased a new position in shares of Bloom Energy during the 3rd quarter valued at $141,679,000. Finally, Man Group plc grew its position in shares of Bloom Energy by 177.4% during the 2nd quarter. Man Group plc now owns 2,392,915 shares of the company’s stock valued at $57,239,000 after purchasing an additional 1,530,167 shares in the last quarter. 77.04% of the stock is currently 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.