Bloom Energy Corporation (NYSE:BE) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Bloom Energy Corporation has received a consensus recommendation of "Moderate Buy" from 21 research analysts, with an average twelve-month target price of $26.39.
• The company reported a 19.5% increase in quarterly revenue year-over-year, achieving $401.24 million in revenue and an EPS of $0.10, surpassing analyst expectations.
• Recent insider transactions included sales by Maciej Kurzymski and Shawn Marie Soderberg, with a total of 11,654 shares sold over the past 90 days, while institutional investors hold 77.04% of the stock.

Bloom Energy Corporation (NYSE:BE - Get Free Report) has been given an average recommendation of "Moderate Buy" by the twenty-one research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, ten have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $26.3947.

Several research firms have issued reports on BE. Truist Financial lowered their price objective on shares of Bloom Energy from $22.00 to $19.00 and set a "hold" rating for the company in a research report on Monday, April 21st. Morgan Stanley upped their price target on shares of Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Susquehanna upped their price target on shares of Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. raised shares of Bloom Energy from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $18.00 to $33.00 in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company upped their price target on shares of Bloom Energy from $22.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st.

Bloom Energy Trading Up 0.5%

Bloom Energy stock traded up $0.21 during trading hours on Wednesday, hitting $45.32. The company had a trading volume of 12,425,730 shares, compared to its average volume of 7,259,178. The firm has a market cap of $10.60 billion, a P/E ratio of 1,133.28 and a beta of 3.28. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99. Bloom Energy has a 1 year low of $9.02 and a 1 year high of $47.21. The company has a 50-day moving average price of $28.10 and a two-hundred day moving average price of $23.36.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.08. The company had revenue of $401.24 million during the quarter, compared to analysts' expectations of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The firm's quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) EPS. On average, sell-side analysts anticipate that Bloom Energy will post -0.23 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Maciej Kurzymski sold 1,012 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $25.27, for a total transaction of $25,573.24. Following the completion of the sale, the insider owned 108,848 shares of the company's stock, valued at $2,750,588.96. This represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 10,158 shares of company stock worth $233,911 over the last three months. Corporate insiders own 3.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in shares of Bloom Energy by 2.1% in the second quarter. Geode Capital Management LLC now owns 4,756,516 shares of the company's stock worth $113,790,000 after buying an additional 95,990 shares during the last quarter. Public Investment Fund increased its stake in shares of Bloom Energy by 16.8% in the first quarter. Public Investment Fund now owns 3,803,770 shares of the company's stock worth $74,782,000 after acquiring an additional 546,372 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in shares of Bloom Energy by 29.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company's stock worth $71,010,000 after acquiring an additional 821,814 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Bloom Energy by 50.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company's stock worth $49,127,000 after acquiring an additional 836,810 shares during the period. Finally, Norges Bank acquired a new stake in shares of Bloom Energy in the second quarter worth $57,821,000. Hedge funds and other 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.