Bloom Energy (NYSE:BE) Given New $41.00 Price Target at UBS Group

Key Points

• UBS Group has raised its price target for Bloom Energy from $29.00 to $41.00, indicating a projected upside of 18.46% from the current stock price and maintains a "buy" rating.
• With a trading price increase of 4.7% recently, Bloom Energy's stock is now at $34.61, and the company reports significant revenue growth of 38.5% year-over-year.
• Investment analyst ratings on Bloom Energy are mixed, with a total of ten "buy" ratings while two firms have issued a "sell" rating.
• Insider selling has been reported, with key executives selling shares at around $19.72 which suggests there may be concerns about stock performance among those close to the company.

Bloom Energy (NYSE:BE - Get Free Report) had its price target boosted by research analysts at UBS Group from $29.00 to $41.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. UBS Group's price objective suggests a potential upside of 18.46% from the stock's current price.

A number of other brokerages also recently issued reports on BE. Roth Capital increased their price objective on Bloom Energy from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday. Jefferies Financial Group reduced their price objective on Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Mizuho increased their target price on shares of Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Roth Mkm dropped their target price on shares of Bloom Energy from $26.00 to $20.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Finally, Robert W. Baird cut their price objective on Bloom Energy from $32.00 to $27.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Bloom Energy presently has an average rating of "Moderate Buy" and an average target price of $24.97.

Bloom Energy Stock Up 4.7%

NYSE BE traded up $1.55 during trading hours on Friday, hitting $34.61. The company's stock had a trading volume of 8,116,599 shares, compared to its average volume of 6,703,800. Bloom Energy has a 52 week low of $9.02 and a 52 week high of $34.71. The company has a market capitalization of $8.04 billion, a PE ratio of -692.06 and a beta of 3.22. The company has a current ratio of 3.44, a quick ratio of 2.39 and a debt-to-equity ratio of 2.07. The company's 50-day simple moving average is $22.50 and its two-hundred day simple moving average is $21.97.

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

Insider Buying and Selling

In related news, insider Aman Joshi sold 4,658 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total value of $91,855.76. Following the completion of the transaction, the insider owned 131,371 shares of the company's stock, valued at approximately $2,590,636.12. This represents a 3.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Satish Chitoori sold 2,038 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $19.73, for a total transaction of $40,209.74. Following the transaction, the insider directly owned 176,618 shares of the company's stock, valued at $3,484,673.14. This trade represents a 1.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,513 shares of company stock worth $1,261,765 in the last ninety days. Corporate insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently modified their holdings of BE. Natixis Advisors LLC bought a new stake in Bloom Energy during the 4th quarter valued at $364,000. Thrivent Financial for Lutherans acquired a new stake in Bloom Energy during the 4th quarter worth about $216,000. Xponance Inc. raised its stake in shares of Bloom Energy by 12.4% during the 4th quarter. Xponance Inc. now owns 14,549 shares of the company's stock valued at $323,000 after buying an additional 1,607 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Bloom Energy in the 4th quarter valued at about $214,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Bloom Energy in the 4th quarter valued at about $944,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

About Bloom Energy

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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