Bloom Energy (NYSE:BE) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Key Points

• Morgan Stanley has raised Bloom Energy's price target from $35.00 to $44.00, suggesting a potential upside of 20.85% from the current stock price, and maintains an "overweight" rating on the stock.
• Overall, Bloom Energy has a consensus rating of "Moderate Buy" with two analysts issuing a sell rating, seven a hold rating, ten a buy rating, and two a strong buy rating.
• The company reported a 19.5% year-over-year increase in revenue for the most recent quarter, with earnings per share of $0.10, exceeding analysts’ estimates.

Bloom Energy (NYSE:BE - Get Free Report) had its price objective boosted by stock analysts at Morgan Stanley from $35.00 to $44.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Morgan Stanley's price objective suggests a potential upside of 20.85% from the stock's current price.

Other equities analysts also recently issued reports about the company. Hsbc Global Res raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Piper Sandler lowered their price target on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Wells Fargo & Company upped their price target on Bloom Energy from $22.00 to $38.00 and gave the company an "equal weight" rating in a report on Friday. Roth Capital upped their price target on Bloom Energy from $20.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. raised Bloom Energy from a "neutral" rating to an "overweight" rating and upped their price target for the company from $18.00 to $33.00 in a report on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bloom Energy has a consensus rating of "Moderate Buy" and a consensus target price of $26.39.

Bloom Energy Trading Down 2.6%

NYSE:BE traded down $0.98 on Friday, reaching $36.41. 6,175,756 shares of the company's stock were exchanged, compared to its average volume of 6,964,149. The company has a quick ratio of 2.39, a current ratio of 3.44 and a debt-to-equity ratio of 2.07. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of -728.05 and a beta of 3.22. The business has a fifty day moving average of $23.80 and a 200-day moving average of $22.27. Bloom Energy has a 52-week low of $9.02 and a 52-week high of $39.09.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.08. The company had revenue of $401.24 million for the quarter, compared to analyst estimates of $382.23 million. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The business's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) earnings per share. As a group, analysts expect that Bloom Energy will post -0.23 earnings per share for the current year.

Insider Activity

In other Bloom Energy news, CEO Kr Sridhar sold 42,383 shares of Bloom Energy stock in a transaction dated Tuesday, May 13th. The stock was 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 owned 2,724,613 shares in the company, valued at $52,149,092.82. The trade was a 1.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Aman Joshi sold 4,658 shares of Bloom Energy stock in a transaction dated 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 sale, the insider owned 131,371 shares of the company's stock, valued at $2,590,636.12. This trade represents a 3.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,513 shares of company stock worth $1,261,765 in the last quarter. Corporate insiders own 3.60% of the company's stock.

Institutional Trading of Bloom Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its stake in shares of Bloom Energy by 27.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 31,829 shares of the company's stock valued at $761,000 after purchasing an additional 6,864 shares in the last quarter. Chilton Capital Management LLC lifted its stake in shares of Bloom Energy by 29.4% in the 2nd quarter. Chilton Capital Management LLC now owns 11,000 shares of the company's stock valued at $263,000 after purchasing an additional 2,500 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Bloom Energy by 61.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,442 shares of the company's stock valued at $130,000 after purchasing an additional 2,069 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Bloom Energy by 20.3% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 102,528 shares of the company's stock valued at $2,452,000 after purchasing an additional 17,307 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Bloom Energy by 2.2% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 218,433 shares of the company's stock valued at $5,225,000 after purchasing an additional 4,636 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company's stock.

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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