Bloom Energy (NYSE:BE) Trading 14.9% Higher on Analyst Upgrade

Bloom Energy Co. (NYSE:BE – Get Rating) shares traded up 14.9% on Wednesday after Susquehanna raised their price target on the stock from $28.00 to $30.00. Susquehanna currently has a positive rating on the stock. Bloom Energy traded as high as $28.66 and last traded at $28.44. 168,541 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 3,424,839 shares. The stock had previously closed at $24.76.

A number of other equities research analysts also recently commented on BE. Susquehanna Bancshares cut their price objective on Bloom Energy from $33.00 to $28.00 in a research report on Tuesday, May 10th. Raymond James cut their price objective on Bloom Energy from $27.00 to $23.00 and set a “strong-buy” rating for the company in a research report on Tuesday, July 12th. Morgan Stanley cut their price objective on Bloom Energy from $25.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, June 13th. Truist Financial increased their price objective on Bloom Energy to $19.00 in a research report on Friday, May 27th. Finally, Piper Sandler started coverage on shares of Bloom Energy in a research note on Wednesday, June 8th. They set a “hold” rating and a $20.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.75.

Insider Transactions at Bloom Energy

In other news, EVP Guillermo Brooks sold 5,860 shares of the company’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $17.03, for a total value of $99,795.80. Following the transaction, the executive vice president now directly owns 19,140 shares of the company’s stock, valued at $325,954.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Kr Sridhar sold 10,937 shares of the stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $16.63, for a total value of $181,882.31. Following the completion of the sale, the chief executive officer now owns 501,938 shares in the company, valued at $8,347,228.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Guillermo Brooks sold 5,860 shares of the stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $17.03, for a total transaction of $99,795.80. Following the completion of the sale, the executive vice president now owns 19,140 shares of the company’s stock, valued at approximately $325,954.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,934 shares of company stock valued at $381,721. 2.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in shares of Bloom Energy by 1.6% during the first quarter. BlackRock Inc. now owns 15,892,456 shares of the company’s stock worth $383,803,000 after buying an additional 251,745 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Bloom Energy by 21.7% during the first quarter. Clearbridge Investments LLC now owns 3,840,712 shares of the company’s stock worth $92,753,000 after buying an additional 685,213 shares in the last quarter. State Street Corp increased its holdings in shares of Bloom Energy by 2.5% during the first quarter. State Street Corp now owns 3,035,648 shares of the company’s stock worth $73,311,000 after buying an additional 72,943 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Bloom Energy by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 2,426,156 shares of the company’s stock worth $53,205,000 after buying an additional 77,018 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Bloom Energy by 2.3% during the fourth quarter. Northern Trust Corp now owns 1,577,496 shares of the company’s stock worth $34,595,000 after buying an additional 35,273 shares in the last quarter. Institutional investors own 65.68% of the company’s stock.

Bloom Energy Stock Up 14.9%

The firm has a market cap of $5.07 billion, a price-to-earnings ratio of -21.77 and a beta of 3.19. The business’s fifty day moving average is $18.22 and its two hundred day moving average is $18.97.

Bloom Energy (NYSE:BE – Get Rating) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.20). The business had revenue of $243.24 million during the quarter, compared to analyst estimates of $228.30 million. Bloom Energy had a negative net margin of 22.25% and a negative return on equity of 738.94%. Bloom Energy’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.34) earnings per share. Research analysts forecast that Bloom Energy Co. will post -0.96 EPS for the current year.

About Bloom Energy

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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 power generation platform 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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