Bloom Energy (NYSE:BE) Trading 6.7% Higher

Bloom Energy Co. (NYSE:BE)’s stock price was up 6.7% during trading on Tuesday . The company traded as high as $10.45 and last traded at $10.44. Approximately 1,587,778 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 5,925,746 shares. The stock had previously closed at $9.78.

Analyst Ratings Changes

BE has been the topic of several recent research reports. Bank of America upped their target price on shares of Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Royal Bank of Canada restated an “outperform” rating and set a $15.00 price objective on shares of Bloom Energy in a research report on Thursday, June 20th. BTIG Research lifted their target price on Bloom Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Jefferies Financial Group lowered Bloom Energy from a “buy” rating to a “hold” rating and decreased their price target for the company from $15.00 to $11.00 in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bloom Energy has a consensus rating of “Hold” and an average target price of $15.88.

Bloom Energy Stock Performance

The firm has a 50 day moving average of $12.06 and a 200-day moving average of $12.11. The company has a market cap of $2.33 billion, a P/E ratio of -7.51 and a beta of 2.69. The company has a quick ratio of 3.33, a current ratio of 4.65 and a debt-to-equity ratio of 3.43.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $335.80 million for the quarter, compared to the consensus estimate of $307.73 million. Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.32) EPS. As a group, sell-side analysts anticipate that Bloom Energy Co. will post -0.25 EPS for the current fiscal year.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 2,094 shares of Bloom Energy stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total value of $30,425.82. Following the transaction, the insider now directly owns 168,867 shares in the company, valued at approximately $2,453,637.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BE. Vanguard Group Inc. lifted its stake in shares of Bloom Energy by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock worth $221,262,000 after buying an additional 156,434 shares during the period. Norges Bank purchased a new stake in Bloom Energy during the 4th quarter valued at about $82,678,000. Coatue Management LLC increased its holdings in shares of Bloom Energy by 28.3% in the fourth quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock valued at $65,666,000 after purchasing an additional 978,053 shares during the period. Electron Capital Partners LLC raised its stake in shares of Bloom Energy by 131.5% in the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after purchasing an additional 1,790,733 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Bloom Energy by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,604,107 shares of the company’s stock worth $23,741,000 after purchasing an additional 25,437 shares during the period. 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.