Bloom Energy (NYSE:BE) Trading 9.2% Higher

Bloom Energy Co. (NYSE:BE)’s stock price rose 9.2% on Tuesday . The company traded as high as $10.21 and last traded at $10.18. Approximately 1,208,700 shares traded hands during trading, a decline of 78% from the average daily volume of 5,539,007 shares. The stock had previously closed at $9.32.

Wall Street Analyst Weigh In

BE has been the subject of a number of research reports. Piper Sandler dropped their target price on shares of Bloom Energy from $14.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. KeyCorp lowered shares of Bloom Energy from an “overweight” rating to a “sector weight” rating in a research report on Friday, February 16th. Bank of America lowered shares of Bloom Energy from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $16.00 to $10.00 in a research report on Monday, January 29th. Susquehanna dropped their target price on shares of Bloom Energy from $18.00 to $16.00 and set a “positive” rating for the company in a research report on Wednesday, March 27th. Finally, BMO Capital Markets dropped their target price on shares of Bloom Energy from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.69.

Bloom Energy Stock Down 1.9 %

The company’s fifty day moving average price is $10.12 and its 200-day moving average price is $11.69. The stock has a market cap of $2.17 billion, a P/E ratio of -6.65 and a beta of 2.79. The company has a debt-to-equity ratio of 2.41, a quick ratio of 2.53 and a current ratio of 3.60.

Bloom Energy (NYSE:BE) last released its earnings results on Thursday, February 15th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.11. The firm had revenue of $356.92 million during the quarter, compared to analyst estimates of $481.90 million. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. Equities analysts forecast that Bloom Energy Co. will post -0.16 EPS 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Kr Sridhar sold 50,746 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $9.74, for a total value of $494,266.04. Following the transaction, the chief executive officer now owns 2,702,608 shares of the company’s stock, valued at approximately $26,323,401.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Shawn Marie Soderberg sold 8,963 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $1,656,509.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,989 shares of company stock worth $725,292. 3.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Millburn Ridgefield Corp purchased a new position in Bloom Energy during the 3rd quarter valued at about $33,000. Quest Partners LLC purchased a new position in Bloom Energy during the 4th quarter valued at about $51,000. Allspring Global Investments Holdings LLC increased its position in Bloom Energy by 17.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock valued at $102,000 after purchasing an additional 1,117 shares during the period. Fairman Group LLC purchased a new position in Bloom Energy during the 4th quarter valued at about $146,000. Finally, AM Investment Strategies LLC purchased a new position in Bloom Energy during the 3rd quarter valued at about $133,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

About Bloom Energy

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.