Bloom Energy (NYSE:BE) Price Target Raised to $129.00 at JPMorgan Chase & Co.

Bloom Energy (NYSE:BE) had its price target upped by stock analysts at JPMorgan Chase & Co. to $129.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 1.89% from the company’s previous close.

Several other brokerages have also commented on BE. UBS Group increased their price target on shares of Bloom Energy to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. BMO Capital Markets set a $136.00 price target on shares of Bloom Energy in a research note on Wednesday. Roth Capital reiterated a “neutral” rating and issued a $103.00 target price on shares of Bloom Energy in a research note on Wednesday. Morgan Stanley raised their target price on shares of Bloom Energy to $155.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, HSBC raised shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.65.

Bloom Energy Trading Up 2.8%

Shares of NYSE:BE opened at $131.48 on Wednesday. The company has a 50 day moving average of $81.42 and a 200-day moving average of $44.57. The firm has a market cap of $30.77 billion, a P/E ratio of 3,288.63, a P/E/G ratio of 212.09 and a beta of 3.48. Bloom Energy has a twelve month low of $9.59 and a twelve month high of $144.20. The company has a current ratio of 4.40, a quick ratio of 3.21 and a debt-to-equity ratio of 1.98.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The company had revenue of $519.05 million during the quarter, compared to analyst estimates of $425.18 million. During the same period in the prior year, the business posted ($0.01) EPS. The business’s revenue for the quarter was up 57.1% compared to the same quarter last year. As a group, analysts anticipate that Bloom Energy will post -0.23 earnings per share for the current fiscal year.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Satish Chitoori sold 400 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $71.16, for a total value of $28,464.00. Following the completion of the sale, the insider owned 231,965 shares in the company, valued at approximately $16,506,629.40. This trade represents a 0.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Maciej Kurzymski sold 2,474 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $70.47, for a total transaction of $174,342.78. Following the completion of the sale, the insider owned 106,374 shares of the company’s stock, valued at $7,496,175.78. The trade was a 2.27% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 301,193 shares of company stock worth $14,893,710. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

A number of large investors have recently modified their holdings of BE. Advisors Asset Management Inc. raised its holdings in Bloom Energy by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company’s stock worth $1,704,000 after acquiring an additional 26,077 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Bloom Energy by 634.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company’s stock valued at $11,763,000 after buying an additional 516,833 shares during the last quarter. Mizuho Markets Americas LLC boosted its holdings in shares of Bloom Energy by 29.9% in the 2nd quarter. Mizuho Markets Americas LLC now owns 395,490 shares of the company’s stock valued at $9,460,000 after buying an additional 90,980 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Bloom Energy by 662.4% in the 1st 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 last quarter. Finally, Comerica Bank raised its position in Bloom Energy by 5.8% during the first quarter. Comerica Bank now owns 88,554 shares of the company’s stock worth $1,741,000 after acquiring an additional 4,885 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.