Bloom Energy (NYSE:BE) Rating Increased to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Bloom Energy (NYSE:BE) from a neutral rating to an overweight rating in a research note issued to investors on Wednesday morning, Marketbeat.com reports. JPMorgan Chase & Co. currently has $33.00 target price on the stock, up from their prior target price of $18.00.

A number of other brokerages also recently weighed in on BE. Morgan Stanley decreased their price target on Bloom Energy from $35.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. HSBC upgraded shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Tuesday, April 8th. Mizuho upgraded shares of Bloom Energy from a “neutral” rating to an “outperform” rating and lowered their price objective for the company from $28.00 to $26.00 in a research note on Monday, May 5th. Robert W. Baird lowered their price objective on shares of Bloom Energy from $32.00 to $27.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Finally, Susquehanna dropped their price target on Bloom Energy from $33.00 to $26.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.97.

Bloom Energy Price Performance

Shares of NYSE:BE opened at $28.65 on Wednesday. The firm has a market cap of $6.65 billion, a PE ratio of -572.89 and a beta of 3.22. The firm’s fifty day moving average is $20.65 and its 200-day moving average is $21.78. The company has a debt-to-equity ratio of 2.07, a quick ratio of 2.39 and a current ratio of 3.44. Bloom Energy has a 52 week low of $9.02 and a 52 week high of $29.83.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.10. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The company had revenue of $326.02 million for the quarter, compared to analyst estimates of $294.27 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. Bloom Energy’s revenue was up 38.5% compared to the same quarter last year. Sell-side analysts predict that Bloom Energy will post -0.23 earnings per share for the current year.

Insider Activity at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 2,780 shares of the firm’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total transaction of $54,821.60. Following the sale, the insider owned 152,890 shares in the company, valued at approximately $3,014,990.80. This trade represents a 1.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Aman Joshi sold 4,658 shares of the firm’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total transaction of $91,855.76. Following the sale, the insider owned 131,371 shares in the company, valued at approximately $2,590,636.12. This trade represents a 3.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,501 shares of company stock valued at $1,236,191 in the last quarter. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of Bloom Energy

A number of hedge funds have recently bought and sold shares of BE. Norges Bank bought a new stake in Bloom Energy in the 4th quarter worth approximately $93,951,000. Fuller & Thaler Asset Management Inc. bought a new stake in Bloom Energy in the 4th quarter worth approximately $61,968,000. Trivest Advisors Ltd bought a new stake in Bloom Energy in the 4th quarter worth approximately $30,539,000. Tree Line Advisors Hong Kong Ltd. bought a new stake in Bloom Energy in the 1st quarter worth approximately $22,609,000. Finally, Voloridge Investment Management LLC boosted its position in Bloom Energy by 323.6% during the fourth quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company’s stock valued at $31,992,000 after buying an additional 1,100,352 shares during the period. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Company Profile

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.