UBS Group Increases Bloom Energy (NYSE:BE) Price Target to $41.00

Bloom Energy (NYSE:BE) had its target price raised by UBS Group from $29.00 to $41.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target would suggest a potential upside of 19.29% from the stock’s current price.

Several other research analysts have also weighed in on BE. JPMorgan Chase & Co. raised Bloom Energy from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $18.00 to $33.00 in a research report on Wednesday, July 9th. Susquehanna raised their target price on Bloom Energy from $26.00 to $30.00 and gave the company a “positive” rating in a research note on Monday, July 21st. Jefferies Financial Group decreased their price objective on Bloom Energy from $25.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, April 16th. Hsbc Global Res raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Finally, HSBC upgraded 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.97.

Bloom Energy Stock Up 4.0%

Shares of BE opened at $34.37 on Friday. Bloom Energy has a 52 week low of $9.02 and a 52 week high of $34.78. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of -687.26 and a beta of 3.22. The company has a debt-to-equity ratio of 2.07, a quick ratio of 2.39 and a current ratio of 3.44. The stock has a fifty day moving average of $22.78 and a 200-day moving average of $22.01.

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

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Aman Joshi sold 4,658 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total transaction of $91,855.76. Following the sale, the insider owned 131,371 shares of the company’s stock, valued at $2,590,636.12. The trade was a 3.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kr Sridhar sold 42,383 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total transaction of $811,210.62. Following the sale, the chief executive officer directly owned 2,724,613 shares in the company, valued at $52,149,092.82. The trade was a 1.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,513 shares of company stock worth $1,261,765. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of BE. Norges Bank bought a new position in shares of Bloom Energy in the fourth quarter worth $93,951,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Bloom Energy in the fourth quarter worth $61,968,000. Tree Line Advisors Hong Kong Ltd. bought a new position in shares of Bloom Energy in the first quarter worth $22,609,000. Voloridge Investment Management LLC increased its holdings in shares of Bloom Energy by 323.6% in the fourth quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company’s stock worth $31,992,000 after purchasing an additional 1,100,352 shares during the period. Finally, Driehaus Capital Management LLC bought a new position in shares of Bloom Energy in the first quarter worth $21,066,000. Institutional investors own 77.04% of the company’s stock.

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.