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

Bloom Energy (NYSE:BEGet Free Report) had its price target upped by stock analysts at BTIG Research from $19.00 to $21.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price points to a potential upside of 33.93% from the stock’s current price.

BE has been the topic of several other research reports. Raymond James lowered their target price on shares of Bloom Energy from $20.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. Morgan Stanley reiterated an “overweight” rating and issued a $22.00 price objective on shares of Bloom Energy in a report on Monday, March 25th. JPMorgan Chase & Co. lowered 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 upped their price target on Bloom Energy from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Monday, May 20th. Finally, Piper Sandler dropped their target price on Bloom Energy from $14.00 to $11.00 and set a “neutral” rating for the company in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.64.

Check Out Our Latest Research Report on Bloom Energy

Bloom Energy Trading Up 4.4 %

Shares of NYSE:BE opened at $15.68 on Thursday. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of -11.61 and a beta of 2.83. The business’s 50 day moving average price is $12.36 and its 200-day moving average price is $12.16. The company has a debt-to-equity ratio of 2.56, a current ratio of 4.45 and a quick ratio of 2.97. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $18.76.

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

Insider Transactions at Bloom Energy

In other Bloom Energy news, Director Eddy Zervigon sold 28,150 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $12.86, for a total value of $362,009.00. Following the completion of the transaction, the director now owns 111,161 shares of the company’s stock, valued at approximately $1,429,530.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Eddy Zervigon sold 28,150 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $12.86, for a total transaction of $362,009.00. Following the sale, the director now directly owns 111,161 shares in the company, valued at $1,429,530.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kr Sridhar sold 50,746 shares of Bloom Energy stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $9.74, for a total transaction of $494,266.04. Following the completion of 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 131,291 shares of company stock valued at $1,457,413. 8.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BE. Deutsche Bank AG lifted its stake in Bloom Energy by 6.2% during the third quarter. Deutsche Bank AG now owns 971,194 shares of the company’s stock worth $12,878,000 after purchasing an additional 57,090 shares during the last quarter. FMR LLC lifted its position 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 buying an additional 2,213,167 shares during the last quarter. Norges Bank purchased a new stake in shares of Bloom Energy during the 4th quarter worth approximately $82,678,000. Dark Forest Capital Management LP acquired a new position in shares of Bloom Energy in the 3rd quarter valued at $1,567,000. Finally, Vanguard Group Inc. grew its position in shares of Bloom Energy by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 19,221,174 shares of the company’s stock valued at $254,873,000 after buying an additional 1,635,738 shares during the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Company Profile

(Get Free Report)

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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