Bloom Energy (NYSE:BE) Upgraded at HSBC

Bloom Energy (NYSE:BE) was upgraded by equities research analysts at HSBC from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Marketbeat.com reports. The brokerage currently has a $150.00 price target on the stock. HSBC’s price objective indicates a potential upside of 17.37% from the stock’s current price.

Several other research analysts have also recently weighed in on BE. Robert W. Baird set a $157.00 price target on shares of Bloom Energy in a report on Wednesday. Susquehanna upped their target price on shares of Bloom Energy to $157.00 and gave the stock a “positive” rating in a report on Wednesday. Royal Bank Of Canada reissued an “outperform” rating and issued a $123.00 price target on shares of Bloom Energy in a report on Monday, October 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Bloom Energy in a report on Wednesday, October 8th. Finally, BTIG Research upped their price objective on shares of Bloom Energy to $145.00 and gave the company a “buy” rating in a research note on Wednesday. Three research 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.65.

Bloom Energy Trading Down 0.0%

Shares of BE traded down $0.05 during trading hours on Wednesday, hitting $127.80. 11,219,212 shares of the stock were exchanged, compared to its average volume of 8,889,994. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 3.21. The firm has a market capitalization of $29.91 billion, a P/E ratio of 742.83, a price-to-earnings-growth ratio of 212.09 and a beta of 3.48. The business has a 50-day moving average of $81.42 and a 200-day moving average of $44.57. Bloom Energy has a fifty-two week low of $9.59 and a fifty-two week high of $144.20.

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

Insider Buying and Selling at Bloom Energy

In other news, insider Satish Chitoori sold 400 shares of Bloom Energy stock in a transaction that occurred on 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 directly owned 231,965 shares in the company, valued at $16,506,629.40. The trade was a 0.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shawn Marie Soderberg sold 25,000 shares of Bloom Energy stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $52.00, for a total transaction of $1,300,000.00. Following the completion of the sale, the insider owned 225,949 shares of the company’s stock, valued at $11,749,348. This represents a 9.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 301,193 shares of company stock worth $14,893,710 in the last 90 days. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

A number of institutional investors and hedge funds have recently made changes to their positions in BE. Norges Bank purchased a new position in shares of Bloom Energy in the second quarter worth approximately $57,821,000. Man Group plc boosted its holdings in shares of Bloom Energy by 177.4% in the second quarter. Man Group plc now owns 2,392,915 shares of the company’s stock worth $57,239,000 after buying an additional 1,530,167 shares during the last quarter. Elemental Capital Partners LLC purchased a new position in shares of Bloom Energy in the third quarter worth approximately $101,720,000. Tree Line Advisors Hong Kong Ltd. purchased a new position in shares of Bloom Energy in the first quarter worth approximately $22,609,000. Finally, Driehaus Capital Management LLC purchased a new position in shares of Bloom Energy in the first quarter worth approximately $21,066,000. Hedge funds and other 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.