Bloom Energy (NYSE:BE) Trading Up 4.7% - Still a Buy?

Bloom Energy Co. (NYSE:BE - Get Free Report)'s share price rose 4.7% on Monday . The company traded as high as $17.30 and last traded at $17.22. Approximately 1,260,648 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 6,755,798 shares. The stock had previously closed at $16.44.

Wall Street Analyst Weigh In

Several brokerages have commented on BE. Truist Financial cut their price target on shares of Bloom Energy from $22.00 to $19.00 and set a "hold" rating on the stock in a research report on Monday, April 21st. Morgan Stanley reduced their price target on Bloom Energy from $35.00 to $30.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Hsbc Global Res raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. BMO Capital Markets reissued a "market perform" rating on shares of Bloom Energy in a report on Friday, February 28th. Finally, Bank of America lowered their target price on shares of Bloom Energy from $20.00 to $18.00 and set an "underperform" rating on the stock in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, eight 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, Bloom Energy has an average rating of "Moderate Buy" and a consensus target price of $22.34.

Bloom Energy Trading Up 2.0 %

The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of -31.39 and a beta of 3.25. The business has a fifty day simple moving average of $19.83 and a 200 day simple moving average of $21.28.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.10. Bloom Energy had a negative net margin of 10.29% and a negative return on equity of 20.32%. The business had revenue of $326.02 million for the quarter, compared to the consensus estimate of $294.27 million. During the same period in the prior year, the company posted ($0.17) earnings per share. Bloom Energy's revenue was up 38.5% compared to the same quarter last year. As a group, research analysts expect that Bloom Energy Co. will post -0.23 EPS for the current year.

Insider Transactions at Bloom Energy

In related news, insider Satish Chitoori sold 1,020 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the transaction, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Bloom Energy

A number of large investors have recently bought and sold shares of the company. SPX Gestao de Recursos Ltda bought a new stake in shares of Bloom Energy during the 4th quarter worth approximately $4,442,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Bloom Energy by 184.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company's stock worth $9,209,000 after purchasing an additional 262,247 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Bloom Energy in the 4th quarter valued at $19,629,000. Charles Schwab Investment Management Inc. increased its stake in shares of Bloom Energy by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company's stock valued at $36,737,000 after purchasing an additional 10,265 shares during the last quarter. Finally, Bailard Inc. acquired a new position in shares of Bloom Energy during the 4th quarter worth $1,278,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.