Bloom Energy (NYSE:BE) Price Target Raised to $31.00 at Mizuho

Bloom Energy (NYSE:BE) had its target price increased by investment analysts at Mizuho from $26.00 to $31.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 22.43% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Susquehanna dropped their price target on shares of Bloom Energy from $33.00 to $26.00 and set a “positive” rating for the company in a research note on Monday, April 14th. UBS Group reiterated a “buy” rating on shares of Bloom Energy in a report on Wednesday, July 2nd. Hsbc Global Res raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. HSBC upgraded Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Tuesday, April 8th. Finally, Redburn Atlantic cut Bloom Energy from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $14.50 to $10.00 in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Bloom Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.26.

Bloom Energy Stock Performance

Shares of NYSE BE opened at $25.32 on Monday. The company has a debt-to-equity ratio of 2.07, a current ratio of 3.44 and a quick ratio of 2.39. The company has a market capitalization of $5.88 billion, a P/E ratio of -506.30 and a beta of 3.22. The business’s 50-day moving average price is $21.38 and its two-hundred day moving average price is $21.80. Bloom Energy has a one year low of $9.02 and a one year high of $29.83.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.10. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The business had revenue of $326.02 million during the quarter, compared to analyst estimates of $294.27 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. The firm’s revenue for the quarter was up 38.5% on a year-over-year basis. Analysts anticipate that Bloom Energy will post -0.23 earnings per share for the current fiscal year.

Insider Activity at Bloom Energy

In other news, CEO Kr Sridhar sold 42,383 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total value of $811,210.62. Following the completion of the transaction, the chief executive officer owned 2,724,613 shares in the company, valued at $52,149,092.82. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Aman Joshi sold 4,658 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total value of $91,855.76. Following the sale, the insider owned 131,371 shares of the company’s stock, valued at approximately $2,590,636.12. This trade represents a 3.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,501 shares of company stock worth $1,236,191 over the last 90 days. 3.50% of the stock is currently owned by insiders.

Institutional Trading of Bloom Energy

Several hedge funds have recently modified their holdings of BE. Norges Bank purchased a new stake in shares of Bloom Energy in the 4th quarter worth approximately $93,951,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Bloom Energy in the 4th quarter worth $61,968,000. Trivest Advisors Ltd purchased a new position in shares of Bloom Energy in the fourth quarter valued at approximately $30,539,000. Tree Line Advisors Hong Kong Ltd. purchased a new position in shares of Bloom Energy in the first quarter worth about $22,609,000. Finally, Voloridge Investment Management LLC grew its holdings in Bloom Energy by 323.6% in the 4th quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company’s stock valued at $31,992,000 after buying an additional 1,100,352 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other 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.