Mizuho Issues Positive Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BEFree Report) had its price objective raised by Mizuho from $26.00 to $31.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

BE has been the topic of several other reports. HSBC upgraded Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. raised Bloom Energy from a “neutral” rating to an “overweight” rating and increased their target price for the company from $18.00 to $33.00 in a research report on Wednesday, July 9th. Morgan Stanley lowered their price objective on Bloom Energy from $35.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Royal Bank Of Canada set a $26.00 target price on Bloom Energy in a research note on Monday, April 14th. Finally, Hsbc Global Res upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.26.

Read Our Latest Analysis on Bloom Energy

Bloom Energy Price Performance

Shares of Bloom Energy stock opened at $25.93 on Monday. The company has a current ratio of 3.44, a quick ratio of 2.39 and a debt-to-equity ratio of 2.07. The firm has a market capitalization of $6.02 billion, a PE ratio of -518.50 and a beta of 3.22. The business’s 50-day moving average price is $21.01 and its 200-day moving average price is $21.76. Bloom Energy has a 12 month low of $9.02 and a 12 month high of $29.83.

Bloom Energy (NYSE:BEGet Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.10. Bloom Energy had a return on equity of 2.51% and a net margin of 0.29%. The firm had revenue of $326.02 million for the quarter, compared to analyst estimates of $294.27 million. During the same period last year, the company earned ($0.17) EPS. The business’s quarterly revenue was up 38.5% compared to the same quarter last year. Sell-side analysts forecast that Bloom Energy will post -0.23 EPS for the current fiscal year.

Insider Activity

In related news, insider Shawn Marie Soderberg sold 2,780 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total value of $54,821.60. Following the completion of the sale, the insider owned 152,890 shares in the company, valued at approximately $3,014,990.80. This trade represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Satish Chitoori sold 2,038 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $19.73, for a total transaction of $40,209.74. Following the transaction, the insider owned 176,618 shares of the company’s stock, valued at approximately $3,484,673.14. This represents a 1.14% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,501 shares of company stock valued at $1,236,191. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in shares of Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after purchasing an additional 812 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Bloom Energy during the 4th quarter worth about $787,000. Raymond James Financial Inc. acquired a new position in Bloom Energy in the 4th quarter valued at about $19,629,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Bloom Energy in the 4th quarter valued at about $1,810,000. Finally, Swiss National Bank grew its stake in Bloom Energy by 1.1% in the 4th quarter. Swiss National Bank now owns 403,800 shares of the company’s stock valued at $8,968,000 after buying an additional 4,300 shares during the last quarter. 77.04% of the stock is owned by institutional investors.

About Bloom Energy

(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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