Bloom Energy (NYSE:BE) Stock Price Up 9.2%

Bloom Energy Co. (NYSE:BE)’s share price rose 9.2% during trading on Tuesday . The company traded as high as $10.21 and last traded at $10.18. Approximately 1,208,700 shares changed hands during trading, a decline of 78% from the average daily volume of 5,539,007 shares. The stock had previously closed at $9.32.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BE shares. KeyCorp downgraded Bloom Energy from an “overweight” rating to a “sector weight” rating in a report on Friday, February 16th. Redburn Atlantic began coverage on Bloom Energy in a report on Tuesday, February 6th. They issued a “neutral” rating and a $12.50 price target for the company. BTIG Research began coverage on Bloom Energy in a research note on Thursday, January 25th. They set a “buy” rating and a $21.00 price target for the company. Morgan Stanley restated an “overweight” rating and set a $22.00 price target on shares of Bloom Energy in a research note on Monday, March 25th. Finally, Truist Financial raised Bloom Energy from a “sell” rating to a “hold” rating and increased their price objective for the company from $9.00 to $11.00 in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Bloom Energy has an average rating of “Moderate Buy” and a consensus target price of $16.69.

Bloom Energy Price Performance

The company has a market capitalization of $2.18 billion, a P/E ratio of -7.02 and a beta of 2.79. The company has a debt-to-equity ratio of 2.41, a current ratio of 3.60 and a quick ratio of 2.53. The company’s 50-day moving average price is $10.19 and its two-hundred day moving average price is $11.72.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.11. The firm had revenue of $356.92 million for the quarter, compared to analysts’ expectations 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 Co. will post -0.17 EPS for the current year.

Insider Buying and Selling

In related news, 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 transaction, the executive vice president now owns 73,946 shares in the company, valued at $690,655.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Shawn Marie Soderberg sold 13,120 shares of the firm’s stock in a transaction dated 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 directly owns 73,946 shares of the company’s stock, valued at $690,655.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kr Sridhar sold 50,746 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $9.74, for a total value of $494,266.04. Following the completion of the sale, the chief executive officer now directly owns 2,702,608 shares in the company, valued at $26,323,401.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,989 shares of company stock worth $725,292. Company 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 stock. Millburn Ridgefield Corp bought a new stake in Bloom Energy during the third quarter worth $33,000. Quest Partners LLC bought a new position in Bloom Energy in the 4th quarter valued at $51,000. Allspring Global Investments Holdings LLC boosted its holdings in Bloom Energy by 17.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock valued at $102,000 after purchasing an additional 1,117 shares during the period. Fairman Group LLC bought a new stake in shares of Bloom Energy during the 4th quarter worth $146,000. Finally, AM Investment Strategies LLC bought a new stake in shares of Bloom Energy during the 3rd quarter worth $133,000. 77.04% of the stock is 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.