Bloom Energy (NYSE:BE) Earns Neutral Rating from Analysts at Daiwa Capital Markets

Daiwa Capital Markets started coverage on shares of Bloom Energy (NYSE:BE) in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating on the stock.

BE has been the topic of a number of other research reports. Cowen reiterated a “hold” rating on shares of Bloom Energy in a research report on Wednesday, October 29th. HSBC upgraded Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Wednesday, October 29th. Evercore ISI reissued an “outperform” rating on shares of Bloom Energy in a research report on Monday, October 13th. Zacks Research lowered shares of Bloom Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Finally, UBS Group lifted their target price on shares of Bloom Energy to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $93.77.

Bloom Energy Stock Performance

NYSE:BE opened at $118.11 on Tuesday. The company has a market cap of $27.93 billion, a P/E ratio of 569.44, a P/E/G ratio of 64.74 and a beta of 3.00. Bloom Energy has a twelve month low of $15.15 and a twelve month high of $147.86. The company’s 50-day moving average price is $107.16 and its 200-day moving average price is $61.29. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating 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 company had revenue of $519.05 million during the quarter, compared to the consensus estimate of $425.18 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. Bloom Energy’s quarterly revenue was up 57.1% on a year-over-year basis. On average, sell-side analysts forecast that Bloom Energy will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,583 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $105.97, for a total value of $167,750.51. Following the sale, the insider directly owned 221,633 shares of the company’s stock, valued at approximately $23,486,449.01. The trade was a 0.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jim H. Snabe sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $143.04, for a total transaction of $2,860,800.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 119,589 shares of company stock valued at $16,439,742. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BE. Envestnet Asset Management Inc. boosted its holdings in Bloom Energy by 43.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 24,965 shares of the company’s stock valued at $491,000 after acquiring an additional 7,540 shares during the period. Cetera Investment Advisers lifted its position in shares of Bloom Energy by 29.9% during the first quarter. Cetera Investment Advisers now owns 30,977 shares of the company’s stock worth $609,000 after purchasing an additional 7,135 shares in the last quarter. Bayforest Capital Ltd purchased a new position in shares of Bloom Energy in the first quarter valued at approximately $2,055,000. Harbour Investments Inc. boosted its stake in shares of Bloom Energy by 2,160.0% in the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company’s stock valued at $31,000 after purchasing an additional 1,512 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Bloom Energy by 11.2% in the first quarter. PNC Financial Services Group Inc. now owns 12,611 shares of the company’s stock valued at $248,000 after purchasing an additional 1,273 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

About Bloom Energy

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.