Bloom Energy (NYSE:BE) Given New $30.00 Price Target at Susquehanna

Bloom Energy (NYSE:BE - Get Free Report) had its target price lifted by Susquehanna from $26.00 to $30.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "positive" rating on the stock. Susquehanna's price objective would suggest a potential upside of 15.92% from the company's previous close.

Several other equities analysts have also recently commented on BE. Truist Financial cut their price target on Bloom Energy from $22.00 to $19.00 and set a "hold" rating for the company in a report on Monday, April 21st. UBS Group reaffirmed a "buy" rating on shares of Bloom Energy in a report on Wednesday, July 2nd. Hsbc Global Res raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Mizuho upped their price target on Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Finally, Morgan Stanley dropped their target price on Bloom Energy from $35.00 to $30.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $24.50.

Bloom Energy Stock Performance

Shares of NYSE BE traded up $0.89 during trading hours on Monday, hitting $25.88. 1,536,220 shares of the company's stock were exchanged, compared to its average volume of 6,432,005. Bloom Energy has a 1-year low of $9.02 and a 1-year high of $29.83. The company has a debt-to-equity ratio of 2.07, a current ratio of 3.44 and a quick ratio of 2.39. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of -517.50 and a beta of 3.22. The company's 50-day moving average price is $21.83 and its 200-day moving average price is $21.84.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.10. Bloom Energy had a return on equity of 2.51% and a net margin of 0.29%. The business had revenue of $326.02 million during the quarter, compared to analysts' expectations of $294.27 million. During the same quarter in the previous year, the firm earned ($0.17) EPS. The firm's revenue was up 38.5% compared to the same quarter last year. On average, sell-side analysts expect that Bloom Energy will post -0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bloom Energy news, insider Maciej Kurzymski sold 8,733 shares of Bloom Energy stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $22.79, for a total transaction of $199,025.07. Following the transaction, the insider directly owned 109,860 shares in the company, valued at approximately $2,503,709.40. The trade was a 7.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kr Sridhar sold 42,383 shares of Bloom Energy stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total value of $811,210.62. Following the completion of the sale, the chief executive officer directly owned 2,724,613 shares in the company, valued at $52,149,092.82. This represents a 1.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,513 shares of company stock worth $1,261,765 over the last three months. Insiders own 3.50% of the company's stock.

Institutional Trading of Bloom Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sender Co & Partners Inc. bought a new position in Bloom Energy during the fourth quarter worth about $283,000. Select Equity Group L.P. grew its holdings in Bloom Energy by 125.5% during the fourth quarter. Select Equity Group L.P. now owns 278,515 shares of the company's stock worth $6,186,000 after purchasing an additional 154,993 shares during the period. SIR Capital Management L.P. grew its holdings in Bloom Energy by 155.1% during the fourth quarter. SIR Capital Management L.P. now owns 572,798 shares of the company's stock worth $12,722,000 after purchasing an additional 348,279 shares during the period. Teacher Retirement System of Texas grew its holdings in Bloom Energy by 662.4% during the first quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company's stock worth $1,445,000 after purchasing an additional 63,875 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Bloom Energy during the fourth quarter worth about $19,629,000. 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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