Equities analysts predict that Bloom Energy Corp (NYSE:BE) will post sales of $268.32 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Bloom Energy’s earnings, with the highest sales estimate coming in at $294.48 million and the lowest estimate coming in at $255.28 million. Bloom Energy reported sales of $213.61 million during the same quarter last year, which indicates a positive year-over-year growth rate of 25.6%. The company is expected to report its next earnings results on Tuesday, February 4th.
According to Zacks, analysts expect that Bloom Energy will report full-year sales of $937.73 million for the current year, with estimates ranging from $923.24 million to $968.02 million. For the next fiscal year, analysts forecast that the company will post sales of $939.21 million, with estimates ranging from $797.28 million to $1.02 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Bloom Energy.
Bloom Energy (NYSE:BE) last released its earnings results on Thursday, November 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.07. Bloom Energy had a negative net margin of 31.91% and a negative return on equity of 867.76%. The company had revenue of $233.47 million for the quarter, compared to the consensus estimate of $230.79 million.
A number of research analysts recently issued reports on BE shares. KeyCorp reiterated an “overweight” rating and set a $5.00 target price on shares of Bloom Energy in a research report on Monday, October 14th. Zacks Investment Research downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Finally, Raymond James dropped their target price on shares of Bloom Energy from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $8.01.
In other Bloom Energy news, EVP Hari Pillai sold 37,500 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $6.81, for a total transaction of $255,375.00. Following the transaction, the executive vice president now owns 37,500 shares in the company, valued at $255,375. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Randy W. Furr sold 100,044 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $5.28, for a total transaction of $528,232.32. Insiders have sold a total of 610,719 shares of company stock worth $3,882,904 in the last quarter. 36.45% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc raised its holdings in Bloom Energy by 36.6% during the fourth quarter. IFP Advisors Inc now owns 5,600 shares of the company’s stock worth $36,000 after buying an additional 1,500 shares during the last quarter. FLC Capital Advisors acquired a new position in Bloom Energy during the third quarter worth $40,000. Public Employees Retirement System of Ohio acquired a new position in Bloom Energy during the third quarter worth $45,000. Sepio Capital LLC acquired a new position in Bloom Energy during the third quarter worth $84,000. Finally, Icon Wealth Partners LLC raised its holdings in Bloom Energy by 60.1% during the third quarter. Icon Wealth Partners LLC now owns 31,425 shares of the company’s stock worth $102,000 after buying an additional 11,800 shares during the last quarter. Hedge funds and other institutional investors own 39.51% of the company’s stock.
Shares of Bloom Energy stock traded up $0.43 during trading on Tuesday, reaching $9.71. 3,914,672 shares of the company traded hands, compared to its average volume of 2,710,349. Bloom Energy has a 1-year low of $2.44 and a 1-year high of $16.63. The company has a 50 day moving average price of $7.11 and a 200-day moving average price of $6.46. The firm has a market capitalization of $1.10 billion, a PE ratio of -3.85 and a beta of 4.14.
About Bloom Energy
Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. The company offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion.
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