Brokerages Set Bloom Energy Co. (NYSE:BE) Target Price at $28.33

Shares of Bloom Energy Co. (NYSE:BEGet Rating) have earned a consensus rating of “Buy” from the fourteen ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $28.33.

A number of brokerages have commented on BE. Bank of America upgraded Bloom Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $28.00 to $29.00 in a research report on Monday, February 14th. Susquehanna Bancshares upgraded Bloom Energy from a “neutral” rating to a “positive” rating and increased their price objective for the company from $18.00 to $33.00 in a research report on Monday, February 28th. KeyCorp reissued an “overweight” rating and issued a $30.00 price target on shares of Bloom Energy in a research note on Wednesday, January 5th. JPMorgan Chase & Co. cut their price target on Bloom Energy from $38.00 to $32.00 in a research note on Thursday, January 20th. Finally, Morgan Stanley cut their price target on Bloom Energy from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 5th.

In other news, EVP Swaminathan Venkataraman sold 2,338 shares of Bloom Energy stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $23.94, for a total value of $55,971.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kr Sridhar sold 65,065 shares of the business’s stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $19.64, for a total transaction of $1,277,876.60. The disclosure for this sale can be found here. Insiders have sold 158,699 shares of company stock valued at $3,273,737 over the last 90 days. Company insiders own 15.86% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in BE. Neo Ivy Capital Management purchased a new stake in Bloom Energy in the 4th quarter worth approximately $38,000. Psagot Value Holdings Ltd. boosted its stake in shares of Bloom Energy by 74.1% during the 3rd quarter. Psagot Value Holdings Ltd. now owns 2,350 shares of the company’s stock valued at $44,000 after purchasing an additional 1,000 shares in the last quarter. Bbva USA boosted its stake in shares of Bloom Energy by 28.1% during the 3rd quarter. Bbva USA now owns 2,920 shares of the company’s stock valued at $55,000 after purchasing an additional 641 shares in the last quarter. Benjamin Edwards Inc. bought a new stake in shares of Bloom Energy during the 3rd quarter valued at about $64,000. Finally, Paragon Capital Management Ltd purchased a new position in Bloom Energy during the 4th quarter valued at about $77,000. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Bloom Energy stock traded up $0.89 during trading hours on Wednesday, hitting $23.26. The stock had a trading volume of 1,753,269 shares, compared to its average volume of 4,010,863. Bloom Energy has a fifty-two week low of $12.55 and a fifty-two week high of $37.01. The stock has a market cap of $4.12 billion, a P/E ratio of -24.48 and a beta of 3.43. The company’s 50-day simple moving average is $21.28. The company has a debt-to-equity ratio of 2,524.52, a quick ratio of 1.94 and a current ratio of 2.35.

Bloom Energy (NYSE:BEGet Rating) last released its quarterly earnings data on Thursday, February 10th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.01. The company had revenue of $342.47 million for the quarter, compared to analyst estimates of $308.94 million. Bloom Energy had a negative return on equity of 738.94% and a negative net margin of 16.92%. The company’s revenue was up 37.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.18) EPS. On average, equities analysts anticipate that Bloom Energy will post -0.62 earnings per share for the current fiscal year.

Bloom Energy Company Profile (Get Rating)

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 power generation platform 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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