Bloom Energy (NYSE:BE) Price Target Raised to $14.00

Bloom Energy (NYSE:BEGet Free Report) had its target price boosted by equities researchers at Wells Fargo & Company from $12.00 to $14.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential downside of 7.50% from the stock’s previous close.

BE has been the topic of several other research reports. Susquehanna lowered their price objective on Bloom Energy from $18.00 to $16.00 and set a “positive” rating on the stock in a research report on Wednesday, March 27th. Raymond James lowered their price objective on Bloom Energy from $20.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. TD Cowen increased their price objective on Bloom Energy from $10.00 to $13.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Evercore ISI lowered their price objective on Bloom Energy from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Finally, BTIG Research began coverage on Bloom Energy in a research report on Thursday, January 25th. They set a “buy” rating and a $21.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.64.

Read Our Latest Analysis on Bloom Energy

Bloom Energy Stock Up 17.1 %

BE opened at $15.14 on Monday. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $18.76. The stock’s fifty day simple moving average is $11.00 and its 200 day simple moving average is $11.78. The company has a current ratio of 4.45, a quick ratio of 2.97 and a debt-to-equity ratio of 2.56. The stock has a market cap of $3.40 billion, a PE ratio of -11.21 and a beta of 2.77.

Bloom Energy (NYSE:BEGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. The business had revenue of $235.30 million during the quarter, compared to the consensus estimate of $254.06 million. As a group, research analysts expect that Bloom Energy will post -0.17 earnings per share for the current year.

Insider Activity at Bloom Energy

In related news, CEO Kr Sridhar sold 50,746 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $9.74, for a total value of $494,266.04. Following the sale, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at $26,323,401.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Kr Sridhar sold 50,746 shares of Bloom Energy stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $9.74, for a total transaction of $494,266.04. Following the sale, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at $26,323,401.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eddy Zervigon sold 28,150 shares of Bloom Energy stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $12.86, for a total value of $362,009.00. Following the sale, the director now directly owns 111,161 shares in the company, valued at $1,429,530.46. The disclosure for this sale can be found here. Insiders have sold 131,291 shares of company stock valued at $1,457,413 over the last ninety days. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of Bloom Energy

A number of hedge funds have recently made changes to their positions in BE. Tsfg LLC raised its position in shares of Bloom Energy by 11.1% during the fourth quarter. Tsfg LLC now owns 10,006 shares of the company’s stock worth $148,000 after acquiring an additional 1,000 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Bloom Energy by 17.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock worth $102,000 after acquiring an additional 1,117 shares during the last quarter. Millburn Ridgefield Corp raised its position in shares of Bloom Energy by 64.0% during the first quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock worth $37,000 after acquiring an additional 1,286 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Bloom Energy by 9.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,299 shares of the company’s stock worth $226,000 after acquiring an additional 1,308 shares during the last quarter. Finally, Tocqueville Asset Management L.P. raised its position in shares of Bloom Energy by 3.1% during the first quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company’s stock worth $666,000 after acquiring an additional 1,800 shares during the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

About Bloom Energy

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Bloom Energy (NYSE:BE)

Receive News & Ratings for Bloom Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bloom Energy and related companies with MarketBeat.com's FREE daily email newsletter.