Bloom Energy (NYSE:BE) Price Target Raised to $38.00

Bloom Energy (NYSE:BE) had its target price boosted by Wells Fargo & Company from $22.00 to $38.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities research analysts have also recently issued reports on BE. Roth Mkm lowered their price objective on Bloom Energy from $26.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. 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. Susquehanna increased their target price on shares of Bloom Energy from $26.00 to $30.00 and gave the company a “positive” rating in a research report on Monday, July 21st. UBS Group raised their price objective on shares of Bloom Energy from $29.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada set a $26.00 price objective on shares of Bloom Energy in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.39.

Bloom Energy Stock Down 1.5%

BE stock opened at $36.84 on Friday. The firm’s fifty day simple moving average is $24.52 and its 200-day simple moving average is $22.46. The company has a market capitalization of $8.56 billion, a P/E ratio of 921.23 and a beta of 3.28. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21. Bloom Energy has a 12 month low of $9.02 and a 12 month high of $39.09.

Bloom Energy (NYSE:BE) last posted its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.08. The firm had revenue of $401.24 million during the quarter, compared to analysts’ expectations of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.06) EPS. As a group, equities research analysts forecast that Bloom Energy will post -0.23 earnings per share for the current year.

Insiders Place Their Bets

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 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 completion of the transaction, the insider directly owned 131,371 shares in the company, valued at $2,590,636.12. This represents a 3.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,513 shares of company stock worth $1,261,765. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Several institutional investors have recently bought and sold shares of the company. Blair William & Co. IL increased its stake in Bloom Energy by 2.8% in the 2nd quarter. Blair William & Co. IL now owns 16,246 shares of the company’s stock valued at $389,000 after buying an additional 437 shares during the period. CWM LLC boosted its position in shares of Bloom Energy by 23.7% during the 1st quarter. CWM LLC now owns 3,360 shares of the company’s stock worth $66,000 after purchasing an additional 644 shares in the last quarter. Xponance Inc. boosted its position in shares of Bloom Energy by 6.4% during the 1st quarter. Xponance Inc. now owns 15,484 shares of the company’s stock worth $304,000 after purchasing an additional 935 shares in the last quarter. Robertson Stephens Wealth Management LLC boosted its position in shares of Bloom Energy by 7.4% during the 2nd quarter. Robertson Stephens Wealth Management LLC now owns 14,459 shares of the company’s stock worth $346,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Bloom Energy by 1.7% during the 4th quarter. Mackenzie Financial Corp now owns 63,372 shares of the company’s stock worth $1,407,000 after purchasing an additional 1,035 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

About Bloom Energy

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.