Hsbc Global Res Upgrades Bloom Energy (NYSE:BE) to “Strong-Buy”

Bloom Energy (NYSE:BE) was upgraded by analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

BE has been the topic of several other research reports. Evercore ISI restated an “outperform” rating on shares of Bloom Energy in a research note on Monday, October 13th. TD Cowen raised their target price on Bloom Energy to $105.00 and gave the company a “hold” rating in a research report on Wednesday. Robert W. Baird set a $157.00 target price on Bloom Energy in a research report on Wednesday. Wells Fargo & Company raised their price target on Bloom Energy to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Finally, Morgan Stanley raised their price target on Bloom Energy to $155.00 and gave the company an “overweight” rating in a report on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.55.

Bloom Energy Price Performance

Shares of NYSE BE opened at $128.28 on Wednesday. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 3.21. Bloom Energy has a 1-year low of $9.59 and a 1-year high of $144.20. The business’s fifty day moving average price is $81.42 and its two-hundred day moving average price is $44.57. The firm has a market capitalization of $30.02 billion, a PE ratio of 3,206.93, a P/E/G ratio of 212.09 and a beta of 3.48.

Bloom Energy (NYSE:BE) last released its quarterly earnings data 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 business had revenue of $519.05 million for the quarter, compared to analysts’ expectations of $425.18 million. During the same quarter last year, the company earned ($0.01) EPS. The company’s revenue for the quarter was up 57.1% compared to the same quarter last year. On average, research analysts expect that Bloom Energy will post -0.23 EPS for the current year.

Insider Activity at Bloom Energy

In other news, insider Aman Joshi sold 4,870 shares of Bloom Energy stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $43.36, for a total transaction of $211,163.20. Following the transaction, the insider directly owned 224,361 shares in the company, valued at approximately $9,728,292.96. This trade represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kr Sridhar sold 60,000 shares of Bloom Energy stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $48.97, for a total value of $2,938,200.00. Following the transaction, the chief executive officer directly owned 2,324,613 shares in the company, valued at approximately $113,836,298.61. The trade was a 2.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 301,193 shares of company stock worth $14,893,710 in the last quarter. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in shares of Bloom Energy by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,756,516 shares of the company’s stock worth $113,790,000 after purchasing an additional 95,990 shares during the last quarter. Public Investment Fund grew its position in Bloom Energy by 16.8% in the first quarter. Public Investment Fund now owns 3,803,770 shares of the company’s stock worth $74,782,000 after buying an additional 546,372 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Bloom Energy by 29.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company’s stock worth $71,010,000 after acquiring an additional 821,814 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Bloom Energy by 50.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock worth $49,127,000 after acquiring an additional 836,810 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Bloom Energy in the 2nd quarter worth $57,821,000. Institutional investors and hedge funds 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.