Bloom Energy Corporation (NYSE:BE) Receives $96.00 Consensus PT from Analysts

Shares of Bloom Energy Corporation (NYSE:BE) have been given a consensus recommendation of “Hold” by the twenty-six analysts that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $96.00.

A number of equities analysts recently weighed in on the stock. Oppenheimer restated a “market perform” rating on shares of Bloom Energy in a research report on Wednesday, October 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $123.00 price target on shares of Bloom Energy in a report on Monday, October 20th. Zacks Research cut Bloom Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. UBS Group upped their price objective on Bloom Energy to $115.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Finally, HSBC upgraded Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a report on Wednesday, October 29th.

Insider Activity at Bloom Energy

In related news, Director Mary K. Bush sold 36,000 shares of Bloom Energy stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $142.82, for a total transaction of $5,141,520.00. Following the completion of the transaction, the director directly owned 133,524 shares of the company’s stock, valued at approximately $19,069,897.68. The trade was a 21.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maciej Kurzymski sold 13,105 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $144.09, for a total transaction of $1,888,299.45. Following the transaction, the insider owned 93,269 shares in the company, valued at $13,439,130.21. The trade was a 12.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 120,410 shares of company stock valued at $16,557,185 over the last three months. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Resona Asset Management Co. Ltd. purchased a new stake in Bloom Energy during the second quarter valued at approximately $108,000. Mizuho Markets Americas LLC grew its holdings in Bloom Energy by 29.9% in the second quarter. Mizuho Markets Americas LLC now owns 395,490 shares of the company’s stock worth $9,460,000 after purchasing an additional 90,980 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Bloom Energy during the third quarter worth $1,106,000. Jump Financial LLC lifted its holdings in shares of Bloom Energy by 137.8% during the 2nd quarter. Jump Financial LLC now owns 332,722 shares of the company’s stock valued at $7,959,000 after purchasing an additional 192,790 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Bloom Energy in the 2nd quarter worth $9,836,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Price Performance

NYSE:BE opened at $136.46 on Friday. The business’s 50-day simple moving average is $105.23 and its two-hundred day simple moving average is $76.80. Bloom Energy has a 52 week low of $15.15 and a 52 week high of $147.86. The stock has a market cap of $32.27 billion, a PE ratio of 744.83, a P/E/G ratio of 11.29 and a beta of 3.01. The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98.

Bloom Energy (NYSE:BE) last released its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.07. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The firm had revenue of $519.05 million during the quarter, compared to analysts’ expectations of $425.18 million. During the same quarter last year, the business posted ($0.01) earnings per share. The firm’s revenue was up 57.1% on a year-over-year basis. As a group, analysts forecast that Bloom Energy will post -0.23 EPS for the current fiscal year.

Bloom Energy Company Profile

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.