Bloom Energy (NYSE:BE) PT Raised to $21.00 at BTIG Research

Bloom Energy (NYSE:BEFree Report) had its price target raised by BTIG Research from $19.00 to $21.00 in a research note published on Thursday, Benzinga reports. BTIG Research currently has a buy rating on the stock.

BE has been the subject of a number of other reports. Truist Financial upgraded shares of Bloom Energy from a sell rating to a hold rating and lifted their price target for the company from $9.00 to $11.00 in a research report on Wednesday, March 6th. JPMorgan Chase & Co. cut shares of Bloom Energy from an overweight rating to a neutral rating and decreased their target price for the stock from $19.00 to $14.00 in a research note on Friday, February 16th. Wells Fargo & Company boosted their target price on shares of Bloom Energy from $12.00 to $14.00 and gave the stock an equal weight rating in a research note on Monday, May 20th. KeyCorp downgraded Bloom Energy from an overweight rating to a sector weight rating in a report on Friday, February 16th. Finally, Raymond James decreased their price objective on Bloom Energy from $20.00 to $16.00 and set an outperform rating for the company in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $15.64.

Check Out Our Latest Report on BE

Bloom Energy Trading Down 3.3 %

Shares of NYSE:BE opened at $14.84 on Thursday. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $18.76. The company has a market capitalization of $3.37 billion, a P/E ratio of -10.99 and a beta of 2.83. The company has a 50-day simple moving average of $12.51 and a 200 day simple moving average of $12.18. The company has a debt-to-equity ratio of 2.56, a quick ratio of 2.97 and a current ratio of 4.45.

Bloom Energy (NYSE:BEGet Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. The firm had revenue of $235.30 million during the quarter, compared to analyst estimates of $254.06 million. Sell-side analysts forecast that Bloom Energy will post -0.26 earnings per share for the current year.

Insider Transactions at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 8,963 shares of the firm’s stock in a transaction dated 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 owns 168,003 shares of the company’s stock, valued at approximately $1,656,509.58. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Kr Sridhar sold 40,112 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $11.93, for a total transaction of $478,536.16. Following the completion of the sale, the chief executive officer now owns 2,742,496 shares in the company, valued at approximately $32,717,977.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 8,963 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 168,003 shares of the company’s stock, valued at $1,656,509.58. The disclosure for this sale can be found here. Insiders have sold 131,291 shares of company stock valued at $1,457,413 in the last 90 days. 8.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Bloom Energy

A number of hedge funds have recently made changes to their positions in BE. Norges Bank bought a new stake in shares of Bloom Energy during the 4th quarter worth $82,678,000. FMR LLC lifted its holdings in shares of 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 acquiring an additional 2,213,167 shares during the last quarter. Electron Capital Partners LLC bought a new stake in shares of Bloom Energy during the 4th quarter worth $27,796,000. Vanguard Group Inc. lifted its holdings in shares of Bloom Energy by 9.3% during the 3rd quarter. Vanguard Group Inc. now owns 19,221,174 shares of the company’s stock worth $254,873,000 after acquiring an additional 1,635,738 shares during the last quarter. Finally, Coatue Management LLC lifted its holdings in shares of Bloom Energy by 28.3% during the 4th quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock worth $65,666,000 after acquiring an additional 978,053 shares during the last quarter. 77.04% of the stock is owned by institutional investors.

Bloom Energy Company Profile

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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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