Bloom Energy (NYSE:BE) Stock Rating Reaffirmed by Royal Bank of Canada

Bloom Energy (NYSE:BE)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $15.00 price objective on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 16.91% from the stock’s current price.

A number of other research firms also recently commented on BE. Evercore ISI dropped their price objective on Bloom Energy from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Truist Financial raised Bloom Energy from a “sell” rating to a “hold” rating and increased their price objective for the company from $9.00 to $11.00 in a research report on Wednesday, March 6th. Susquehanna reduced their target price on Bloom Energy from $18.00 to $16.00 and set a “positive” rating for the company in a research report on Wednesday, March 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $22.00 target price on shares of Bloom Energy in a research report on Monday, March 25th. Finally, TD Cowen lifted their price objective on Bloom Energy from $10.00 to $13.00 and gave the company a “hold” rating in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.69.

Bloom Energy Price Performance

Shares of NYSE BE opened at $12.83 on Thursday. The company has a current ratio of 4.45, a quick ratio of 2.97 and a debt-to-equity ratio of 2.56. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $18.76. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of -9.50 and a beta of 2.83. The firm has a 50-day moving average of $13.05 and a two-hundred day moving average of $12.22.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The firm had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $254.06 million. Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. As a group, analysts expect that Bloom Energy will post -0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bloom Energy news, 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 transaction, the insider now owns 168,003 shares in the company, valued at $1,656,509.58. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Bloom Energy news, Director Eddy Zervigon sold 28,150 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $12.86, for a total value of $362,009.00. Following the sale, the director now owns 111,161 shares in the company, valued at approximately $1,429,530.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 8,963 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total value of $88,375.18. Following 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. Over the last quarter, insiders have sold 78,385 shares of company stock worth $943,038. Insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Bloom Energy by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock worth $221,262,000 after acquiring an additional 156,434 shares during the last quarter. Norges Bank acquired a new position in Bloom Energy in the 4th quarter worth about $82,678,000. Coatue Management LLC increased its holdings in Bloom Energy by 28.3% in the 4th quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock worth $65,666,000 after purchasing an additional 978,053 shares in the last quarter. FMR LLC increased its holdings in Bloom Energy by 168.8% in the 3rd quarter. FMR LLC now owns 3,524,361 shares of the company’s stock worth $46,733,000 after purchasing an additional 2,213,167 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Bloom Energy by 3.8% in the third quarter. Northern Trust Corp now owns 1,920,938 shares of the company’s stock valued at $25,472,000 after buying an additional 70,248 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

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.