Bloom Energy Corporation (NYSE:BE) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Bloom Energy Corporation (NYSE:BE) have received an average recommendation of “Moderate Buy” from the twenty ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, ten have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $24.26.

A number of analysts recently issued reports on BE shares. Jefferies Financial Group lowered their price target on shares of Bloom Energy from $25.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, April 16th. Robert W. Baird reduced their target price on shares of Bloom Energy from $32.00 to $27.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Redburn Atlantic cut shares of Bloom Energy from a “neutral” rating to a “sell” rating and reduced their target price for the company from $14.50 to $10.00 in a research report on Wednesday, April 9th. Roth Mkm cut their price objective on shares of Bloom Energy from $26.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Finally, HSBC raised shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Tuesday, April 8th.

Insider Buying and Selling at Bloom Energy

In other news, CEO Kr Sridhar sold 42,383 shares of Bloom Energy stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total value of $811,210.62. Following the transaction, the chief executive officer directly owned 2,724,613 shares of the company’s stock, valued at $52,149,092.82. The trade was a 1.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Satish Chitoori sold 2,038 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $19.73, for a total transaction of $40,209.74. Following the completion of the transaction, the insider directly owned 176,618 shares in the company, valued at $3,484,673.14. This represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,513 shares of company stock worth $1,261,765. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Bloom Energy

Several institutional investors have recently bought and sold shares of BE. Sender Co & Partners Inc. acquired a new stake in Bloom Energy in the 4th quarter valued at about $283,000. Select Equity Group L.P. lifted its holdings in shares of Bloom Energy by 125.5% during the 4th quarter. Select Equity Group L.P. now owns 278,515 shares of the company’s stock worth $6,186,000 after acquiring an additional 154,993 shares during the period. SIR Capital Management L.P. lifted its holdings in shares of Bloom Energy by 155.1% during the 4th quarter. SIR Capital Management L.P. now owns 572,798 shares of the company’s stock worth $12,722,000 after acquiring an additional 348,279 shares during the period. Teacher Retirement System of Texas raised its holdings in Bloom Energy by 662.4% in the first quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company’s stock valued at $1,445,000 after buying an additional 63,875 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Bloom Energy in the fourth quarter valued at approximately $19,629,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Trading Up 2.9%

NYSE BE opened at $25.01 on Friday. The company has a quick ratio of 2.39, a current ratio of 3.44 and a debt-to-equity ratio of 2.07. The firm has a market cap of $5.81 billion, a PE ratio of -500.10 and a beta of 3.22. The company has a 50 day moving average price of $21.83 and a 200 day moving average price of $21.86. Bloom Energy has a 52 week low of $9.02 and a 52 week high of $29.83.

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

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.