Bloom Energy's (BE) "Outperform" Rating Reaffirmed at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reaffirmed its “Outperform” rating on Bloom Energy and set a $335 price target, implying 93.25% upside from the current price cited in the report.
• Analyst views are mixed overall: MarketBeat reports an average “Hold” rating and an average price target of $263.05.
• Bloom Energy beat quarterly earnings and revenue estimates, reporting $0.94 EPS versus $0.69 expected and $1.24 billion in revenue; revenue rose 138.1% year over year.

Bloom Energy (NYSE:BE - Get Free Report)'s stock had its "outperform" rating reiterated by analysts at Royal Bank Of Canada in a report released on Monday, Benzinga reports. They presently have a $335.00 price target on the stock. Royal Bank Of Canada's price target suggests a potential upside of 93.25% from the company's current price.

BE has been the subject of a number of other research reports. Wells Fargo & Company lifted their target price on Bloom Energy from $176.00 to $182.00 and gave the stock an "equal weight" rating in a report on Monday, October 26th. Morgan Stanley boosted their price objective on shares of Bloom Energy from $310.00 to $335.00 and gave the company an "overweight" rating in a research report on Friday, October 23rd. JPMorgan Chase & Co. reduced their target price 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. Sanford C. Bernstein lifted their price target on shares of Bloom Energy from $282.00 to $306.00 and gave the stock a "market perform" rating in a research note on Friday, October 23rd. Finally, Zacks Research downgraded shares of Bloom Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $263.05.

Bloom Energy Stock Up 0.1%

Shares of NYSE BE opened at $173.35 on Monday. The company has a current ratio of 3.74, a quick ratio of 3.08 and a debt-to-equity ratio of 1.33. Bloom Energy has a 12-month low of $75.70 and a 12-month high of $351.28. The firm's 50-day moving average price is $246.00 and its 200-day moving average price is $220.98. The stock has a market capitalization of $51.25 billion, a price-to-earnings ratio of 106.35, a P/E/G ratio of 1.75 and a beta of 3.63.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.69 by $0.25. Bloom Energy had a return on equity of 45.29% and a net margin of 13.53%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $0.15 earnings per share. The firm's revenue was up 138.1% on a year-over-year basis. On average, equities research analysts anticipate that Bloom Energy will post 2.61 EPS for the current fiscal year.

Insider Buying and Selling at Bloom Energy

In other news, insider Aman Joshi sold 8,437 shares of the firm's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $277.17, for a total value of $2,338,483.29. Following the sale, the insider directly owned 147,092 shares in the company, valued at approximately $40,769,489.64. This trade represents a 5.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shawn Soderberg sold 2,870 shares of Bloom Energy stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $270.07, for a total transaction of $775,100.90. Following the completion of the transaction, the insider directly owned 126,500 shares in the company, valued at $34,163,855. This represents a 2.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 85,859 shares of company stock valued at $20,994,650. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

A number of large investors have recently made changes to their positions in the stock. MJT & Associates Financial Advisory Group Inc. lifted its stake in Bloom Energy by 49.3% in the 2nd quarter. MJT & Associates Financial Advisory Group Inc. now owns 112 shares of the company's stock worth $34,000 after purchasing an additional 37 shares in the last quarter. Compound Planning Inc. grew its position in shares of Bloom Energy by 1.1% in the first quarter. Compound Planning Inc. now owns 3,445 shares of the company's stock valued at $467,000 after purchasing an additional 38 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Bloom Energy by 13.8% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 355 shares of the company's stock valued at $98,000 after purchasing an additional 43 shares during the last quarter. Carolina Wealth Advisors LLC increased its holdings in shares of Bloom Energy by 51.7% in the second quarter. Carolina Wealth Advisors LLC now owns 135 shares of the company's stock valued at $41,000 after purchasing an additional 46 shares during the last quarter. Finally, Truefg LLC lifted its position in Bloom Energy by 2.4% during the third quarter. Truefg LLC now owns 2,048 shares of the company's stock worth $567,000 after buying an additional 48 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Company Profile

Bloom Energy Corporation develops solid oxide fuel cell technology for on-site electricity generation and hydrogen production. Its Bloom Energy Server systems generate power near the point of use, helping businesses and institutions meet electricity needs and support resilient energy operations. The company also offers solid oxide electrolyzers designed to produce hydrogen.

Founded in 2001 by K.R. Sridhar, Bloom Energy is headquartered in San Jose, California. It serves customers in the United States and international markets, including countries in Asia.

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