Bloom Energy (NYSE:BE) Given “Overweight” Rating at Morgan Stanley

Morgan Stanley restated their overweight rating on shares of Bloom Energy (NYSE:BE) in a report published on Monday, Benzinga reports. The brokerage currently has a $22.00 price objective on the stock.

Other equities analysts have also issued reports about the stock. Raymond James lowered their target price on shares of Bloom Energy from $20.00 to $16.00 and set an outperform rating for the company in a report on Friday, February 16th. JPMorgan Chase & Co. downgraded shares of Bloom Energy from an overweight rating to a neutral rating and dropped their target price for the stock from $19.00 to $14.00 in a report on Friday, February 16th. Piper Sandler decreased their target price on shares of Bloom Energy from $14.00 to $11.00 and set a neutral rating on the stock in a research report on Friday, February 16th. Redburn Atlantic began coverage on shares of Bloom Energy in a report on Tuesday, February 6th. They set a neutral rating and a $12.50 price target on the stock. Finally, KeyCorp downgraded shares of Bloom Energy from an overweight rating to a sector weight rating in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Bloom Energy currently has an average rating of Hold and a consensus target price of $16.44.

Bloom Energy Stock Performance

BE stock opened at $11.03 on Monday. The business has a 50 day moving average of $10.46 and a 200-day moving average of $12.08. Bloom Energy has a 12-month low of $8.41 and a 12-month high of $20.62. The firm has a market cap of $2.48 billion, a PE ratio of -7.61 and a beta of 2.76. The company has a quick ratio of 2.53, a current ratio of 3.60 and a debt-to-equity ratio of 2.41.

Bloom Energy (NYSE:BE) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. The business had revenue of $356.92 million for the quarter, compared to the consensus estimate of $481.90 million. Bloom Energy had a negative return on equity of 23.88% and a negative net margin of 22.66%. As a group, sell-side analysts expect that Bloom Energy will post -0.17 earnings per share for the current year.

Insider Buying and Selling at Bloom Energy

In other news, EVP Shawn Marie Soderberg sold 13,120 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $9.34, for a total transaction of $122,540.80. Following the completion of the transaction, the executive vice president now directly owns 73,946 shares of the company’s stock, valued at approximately $690,655.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $9.74, for a total transaction of $494,266.04. Following the completion of the sale, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at approximately $26,323,401.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Shawn Marie Soderberg sold 13,120 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $9.34, for a total value of $122,540.80. Following the sale, the executive vice president now owns 73,946 shares in the company, valued at approximately $690,655.64. The disclosure for this sale can be found here. Insiders sold 67,782 shares of company stock valued at $658,463 in the last 90 days. Company insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Fairman Group LLC acquired a new position in Bloom Energy in the fourth quarter valued at approximately $146,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Bloom Energy by 33.1% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 477,248 shares of the company’s stock worth $7,063,000 after purchasing an additional 118,595 shares in the last quarter. Vanguard Group Inc. raised its holdings in Bloom Energy by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 19,528,801 shares of the company’s stock worth $289,026,000 after purchasing an additional 307,627 shares in the last quarter. Electron Capital Partners LLC bought a new stake in Bloom Energy during the fourth quarter worth approximately $27,796,000. Finally, FIL Ltd raised its holdings in Bloom Energy by 47.7% during the fourth quarter. FIL Ltd now owns 137,898 shares of the company’s stock worth $2,041,000 after purchasing an additional 44,550 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

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.