Shares of Bloom Energy Co. (NYSE:BE – Get Free Report) have been given an average recommendation of “Moderate Buy” by the sixteen analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $16.69.
A number of brokerages have weighed in on BE. Evercore ISI began coverage on shares of Bloom Energy in a research report on Monday, April 1st. They set an “outperform” rating and a $21.00 price target for the company. Redburn Atlantic assumed coverage on shares of Bloom Energy in a research note on Tuesday, February 6th. They issued a “neutral” rating and a $12.50 price objective for the company. Susquehanna lowered their price objective on shares of Bloom Energy from $18.00 to $16.00 and set a “positive” rating for the company in a research note on Wednesday, March 27th. BMO Capital Markets lowered their price objective on shares of Bloom Energy from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Friday, February 16th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $22.00 price objective on shares of Bloom Energy in a research note on Monday, March 25th.
Check Out Our Latest Stock Report on BE
Bloom Energy Price Performance
Bloom Energy (NYSE:BE – Get Free Report) last released its quarterly earnings data 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. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. The firm had revenue of $356.92 million during the quarter, compared to analysts’ expectations of $481.90 million. Sell-side analysts anticipate that Bloom Energy will post -0.16 earnings per share for the current year.
Insider Activity
In other news, EVP Shawn Marie Soderberg sold 13,120 shares of Bloom Energy stock in a transaction on Friday, February 16th. The shares were sold at an average price of $9.34, for a total value of $122,540.80. Following the transaction, the executive vice president now directly owns 73,946 shares of the company’s stock, valued at approximately $690,655.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of the business’s stock in a transaction on 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 directly owns 2,702,608 shares of the company’s stock, valued at approximately $26,323,401.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Shawn Marie Soderberg sold 13,120 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $9.34, for a total transaction of $122,540.80. Following the completion of the transaction, the executive vice president now directly owns 73,946 shares in the company, valued at $690,655.64. The disclosure for this sale can be found here. Insiders have sold 74,989 shares of company stock valued at $725,292 in the last ninety days. 8.81% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Bloom Energy
Institutional investors have recently bought and sold shares of the company. Millburn Ridgefield Corp purchased a new stake in shares of Bloom Energy during the 3rd quarter worth $33,000. Quest Partners LLC purchased a new stake in shares of Bloom Energy during the 4th quarter worth $51,000. Allspring Global Investments Holdings LLC boosted its position in shares of Bloom Energy by 17.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock worth $102,000 after purchasing an additional 1,117 shares in the last quarter. AM Investment Strategies LLC purchased a new stake in shares of Bloom Energy during the 3rd quarter worth $133,000. Finally, Fairman Group LLC purchased a new stake in shares of Bloom Energy during the 4th quarter worth $146,000. 77.04% of the stock is owned by institutional investors and hedge funds.
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.
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