Bloom Energy (NYSE:BE) Upgraded at Barclays

Bloom Energy (NYSE:BE) was upgraded by equities researchers at Barclays from an “equal weight” rating to an “overweight” rating in a note issued to investors on Tuesday, Briefing.com reports. The brokerage currently has a $289.00 price objective on the stock. Barclays‘s price target indicates a potential upside of 47.33% from the stock’s current price.

A number of other equities analysts have also weighed in on BE. UBS Group increased their target price on shares of Bloom Energy from $325.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, October 7th. JPMorgan Chase & Co. dropped their price target on shares of Bloom Energy from $314.00 to $292.00 and set an “overweight” rating on the stock in a research note on Friday, October 23rd. Mizuho lifted their price objective on shares of Bloom Energy from $242.00 to $351.00 and gave the company an “outperform” rating in a research note on Monday, September 14th. TD Cowen upgraded shares of Bloom Energy to a “hold” rating in a research note on Monday, October 5th. Finally, Wells Fargo & Company boosted their target price on shares of Bloom Energy from $176.00 to $182.00 and gave the company an “equal weight” rating in a report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $263.05.

Bloom Energy Stock Performance

NYSE:BE opened at $196.15 on Tuesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.74 and a quick ratio of 3.08. The business has a fifty day simple moving average of $248.07 and a two-hundred day simple moving average of $220.08. Bloom Energy has a 1 year low of $75.70 and a 1 year high of $351.28. The company has a market capitalization of $57.77 billion, a P/E ratio of 120.34, a P/E/G ratio of 2.36 and a beta of 3.77.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.25. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Bloom Energy had a return on equity of 45.29% and a net margin of 13.53%. The business’s revenue for the quarter was up 138.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.15 EPS. On average, analysts expect that Bloom Energy will post 2.61 earnings per share for the current year.

Insider Activity

In other news, CAO Maciej Kurzymski sold 2,295 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $268.42, for a total value of $616,023.90. Following the completion of the transaction, the chief accounting officer directly owned 77,391 shares in the company, valued at approximately $20,773,292.22. This trade represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeffrey R. Immelt sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $238.91, for a total transaction of $7,167,300.00. Following the transaction, the director directly owned 201,243 shares of the company’s stock, valued at approximately $48,078,965.13. This represents a 12.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 74,698 shares of company stock valued at $18,697,058. 3.00% of the stock is currently owned by insiders.

Institutional Trading of Bloom Energy

Several institutional investors and hedge funds have recently bought and sold shares of BE. Jennison Associates LLC increased its holdings in shares of Bloom Energy by 20,074.4% in the first quarter. Jennison Associates LLC now owns 2,687,029 shares of the company’s stock worth $364,066,000 after purchasing an additional 2,673,710 shares during the period. Bank of America Corp DE boosted its stake in Bloom Energy by 6.1% during the first quarter. Bank of America Corp DE now owns 2,211,880 shares of the company’s stock valued at $299,688,000 after buying an additional 126,649 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Bloom Energy by 78.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,327,549 shares of the company’s stock valued at $401,849,000 after buying an additional 583,135 shares during the period. Elemental Capital Partners LLC boosted its stake in Bloom Energy by 2.5% during the third quarter. Elemental Capital Partners LLC now owns 1,039,031 shares of the company’s stock valued at $287,791,000 after buying an additional 25,625 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Bloom Energy during the second quarter worth about $296,413,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

About Bloom Energy

Bloom Energy Corporation develops and manufactures energy systems designed to generate electricity on-site. Its primary product is the Bloom Energy Server, a solid oxide fuel cell platform that converts fuel into electricity through an electrochemical process rather than combustion. The systems are used by businesses, utilities, data centers and other organizations seeking reliable, distributed power.

The company also develops electrolyzers based on its solid oxide technology. These systems are designed to produce hydrogen from electricity and water and support applications related to industrial operations, energy storage and the emerging hydrogen economy.