Bloom Energy (NYSE:BE) Upgraded by Morgan Stanley to Overweight

Morgan Stanley upgraded shares of Bloom Energy (NYSE:BEGet Rating) from an equal weight rating to an overweight rating in a report released on Tuesday morning, MarketBeat reports. They currently have $35.00 target price on the stock, down from their prior target price of $37.00.

BE has been the subject of a number of other reports. BMO Capital Markets lowered their price target on shares of Bloom Energy from $24.00 to $23.00 and set a market perform rating for the company in a report on Friday, November 4th. Wells Fargo & Company lowered shares of Bloom Energy from an overweight rating to an equal weight rating and lowered their price target for the company from $27.00 to $22.00 in a report on Friday, January 6th. UBS Group assumed coverage on shares of Bloom Energy in a report on Tuesday, December 13th. They issued a buy rating and a $35.00 price objective for the company. Jefferies Financial Group assumed coverage on shares of Bloom Energy in a report on Wednesday, October 19th. They issued a buy rating and a $29.00 price objective for the company. Finally, Truist Financial decreased their price objective on shares of Bloom Energy from $31.00 to $20.00 and set a hold rating for the company in a report on Tuesday, October 18th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Bloom Energy presently has a consensus rating of Moderate Buy and a consensus target price of $29.93.

Bloom Energy Trading Up 10.6 %

Shares of BE opened at $22.00 on Tuesday. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of -13.66 and a beta of 2.84. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.81 and a current ratio of 2.46. Bloom Energy has a fifty-two week low of $11.47 and a fifty-two week high of $31.47. The firm has a 50 day moving average price of $20.41 and a 200-day moving average price of $20.90.

Bloom Energy (NYSE:BEGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.12). Bloom Energy had a negative net margin of 26.65% and a negative return on equity of 80,741.48%. The firm had revenue of $292.27 million for the quarter, compared to the consensus estimate of $277.53 million. As a group, equities research analysts forecast that Bloom Energy will post -1.14 earnings per share for the current year.

Insider Activity at Bloom Energy

In related news, EVP Guillermo Brooks sold 1,398 shares of the stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $18.30, for a total transaction of $25,583.40. Following the sale, the executive vice president now directly owns 23,992 shares of the company’s stock, valued at approximately $439,053.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Kr Sridhar sold 7,424 shares of the stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $21.45, for a total transaction of $159,244.80. Following the sale, the chief executive officer now directly owns 474,514 shares of the company’s stock, valued at approximately $10,178,325.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Guillermo Brooks sold 1,398 shares of the company’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $18.30, for a total transaction of $25,583.40. Following the transaction, the executive vice president now owns 23,992 shares in the company, valued at approximately $439,053.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,101 shares of company stock valued at $649,230. 2.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently bought and sold shares of BE. Bank of New York Mellon Corp lifted its stake in Bloom Energy by 13.0% during the 1st quarter. Bank of New York Mellon Corp now owns 566,033 shares of the company’s stock valued at $13,669,000 after acquiring an additional 64,919 shares during the period. AlphaCrest Capital Management LLC bought a new position in shares of Bloom Energy in the 1st quarter worth approximately $337,000. Bank of Montreal Can lifted its stake in shares of Bloom Energy by 8.1% in the 1st quarter. Bank of Montreal Can now owns 63,498 shares of the company’s stock worth $1,559,000 after purchasing an additional 4,781 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Bloom Energy by 53.5% in the 1st quarter. MetLife Investment Management LLC now owns 76,115 shares of the company’s stock worth $1,838,000 after purchasing an additional 26,537 shares during the period. Finally, Panagora Asset Management Inc. bought a new position in shares of Bloom Energy in the 1st quarter worth approximately $1,016,000. Institutional investors own 79.55% of the company’s stock.

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.

Recommended Stories

Analyst Recommendations for Bloom Energy (NYSE:BE)

Receive News & Ratings for Bloom Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bloom Energy and related companies with MarketBeat.com's FREE daily email newsletter.