Bloom Energy (NYSE:BE) Now Covered by China Renaissance

China Renaissance started coverage on shares of Bloom Energy (NYSE:BE) in a research report report published on Wednesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $207.00 price target on the stock.

A number of other brokerages also recently weighed in on BE. Jefferies Financial Group reiterated an “underperform” rating and issued a $92.00 price target on shares of Bloom Energy in a report on Monday. BMO Capital Markets set a $136.00 price objective on shares of Bloom Energy in a report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Bloom Energy in a report on Thursday, October 30th. Zacks Research downgraded shares of Bloom Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Finally, Robert W. Baird set a $172.00 price target on shares of Bloom Energy in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $109.83.

Bloom Energy Stock Performance

Shares of BE stock opened at $165.72 on Wednesday. The stock has a market capitalization of $39.19 billion, a price-to-earnings ratio of 846.17, a PEG ratio of 12.83 and a beta of 3.01. Bloom Energy has a one year low of $15.15 and a one year high of $167.57. The company’s 50-day simple moving average is $111.02 and its 200-day simple moving average is $86.70. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.07. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The firm had revenue of $519.05 million for the quarter, compared to analysts’ expectations of $425.18 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. Bloom Energy’s revenue for the quarter was up 57.1% compared to the same quarter last year. Equities 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 related news, Director Jim H. Snabe sold 20,000 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $143.04, for a total value of $2,860,800.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mary K. Bush sold 36,000 shares of Bloom Energy stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $142.82, for a total transaction of $5,141,520.00. Following the completion of the sale, the director owned 133,524 shares in the company, valued at approximately $19,069,897.68. This represents a 21.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 120,410 shares of company stock valued at $16,557,185. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Resona Asset Management Co. Ltd. acquired a new position in Bloom Energy in the 2nd quarter worth approximately $108,000. Mizuho Markets Americas LLC lifted its holdings in shares of Bloom Energy by 29.9% in the second quarter. Mizuho Markets Americas LLC now owns 395,490 shares of the company’s stock valued at $9,460,000 after purchasing an additional 90,980 shares in the last quarter. Udine Wealth Management Inc. boosted its position in shares of Bloom Energy by 27.8% in the third quarter. Udine Wealth Management Inc. now owns 62,967 shares of the company’s stock worth $5,325,000 after buying an additional 13,684 shares during the period. Straight Path Wealth Management acquired a new stake in shares of Bloom Energy in the third quarter worth $1,099,000. Finally, Huntleigh Advisors Inc. purchased a new position in Bloom Energy during the 3rd quarter valued at about $766,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

About Bloom Energy

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.