Bloom Energy Corporation (NYSE:BE) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Bloom Energy Corporation (NYSE:BE - Get Free Report) have received an average rating of "Moderate Buy" from the twenty brokerages that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, nine have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $22.97.

Several equities research analysts have issued reports on the company. Royal Bank Of Canada set a $26.00 target price on Bloom Energy in a research note on Monday, April 14th. Jefferies Financial Group decreased their target price on Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Truist Financial decreased their target price on Bloom Energy from $22.00 to $19.00 and set a "hold" rating for the company in a report on Monday, April 21st. Piper Sandler decreased their target price on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, TD Cowen lifted their target price on Bloom Energy from $13.00 to $20.00 and gave the company a "hold" rating in a report on Friday, February 28th.

Bloom Energy Price Performance

Shares of Bloom Energy stock opened at $22.61 on Tuesday. The business has a 50 day simple moving average of $19.27 and a two-hundred day simple moving average of $21.81. Bloom Energy has a 12 month low of $9.02 and a 12 month high of $29.83. The stock has a market capitalization of $5.25 billion, a P/E ratio of -452.11 and a beta of 3.21. The company has a debt-to-equity ratio of 2.07, a current ratio of 3.44 and a quick ratio of 2.39.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings data 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 return on equity of 2.51% and a net margin of 0.29%. The firm had revenue of $326.02 million for the quarter, compared to the consensus estimate of $294.27 million. During the same quarter last year, the business posted ($0.17) earnings per share. The firm's revenue was up 38.5% compared to the same quarter last year. As a group, analysts predict that Bloom Energy will post -0.23 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Maciej Kurzymski sold 8,733 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $22.79, for a total value of $199,025.07. Following the completion of the transaction, the insider now owns 109,860 shares of the company's stock, valued at approximately $2,503,709.40. This trade represents a 7.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 42,383 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total transaction of $811,210.62. Following the completion of the transaction, the chief executive officer now directly owns 2,724,613 shares of the company's stock, valued at $52,149,092.82. This represents a 1.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,501 shares of company stock worth $1,236,191. 3.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently modified their holdings of BE. Norges Bank acquired a new position in Bloom Energy during the 4th quarter worth $93,951,000. Fuller & Thaler Asset Management Inc. acquired a new position in Bloom Energy during the 4th quarter worth $61,968,000. Trivest Advisors Ltd acquired a new position in Bloom Energy during the 4th quarter worth $30,539,000. Tree Line Advisors Hong Kong Ltd. acquired a new position in Bloom Energy during the 1st quarter worth $22,609,000. Finally, Voloridge Investment Management LLC lifted its position in Bloom Energy by 323.6% during the 4th quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company's stock worth $31,992,000 after acquiring an additional 1,100,352 shares during the last quarter. Institutional investors and hedge funds 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.

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