Bloom Energy (NYSE:BE) Stock Price Up 4.7% - Should You Buy?

Shares of Bloom Energy Co. (NYSE:BE - Get Free Report) shot up 4.7% during trading on Monday . The stock traded as high as $17.30 and last traded at $17.22. 1,260,648 shares traded hands during trading, a decline of 81% from the average session volume of 6,755,798 shares. The stock had previously closed at $16.44.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BE. Piper Sandler decreased their price target on shares of Bloom Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Royal Bank of Canada set a $26.00 target price on shares of Bloom Energy in a research report on Monday, April 14th. Jefferies Financial Group decreased their price target on Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Truist Financial cut their price objective on Bloom Energy from $22.00 to $19.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Bloom Energy in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.61.

Bloom Energy Trading Up 1.5 %

The business has a fifty day moving average price of $20.48 and a 200-day moving average price of $21.19. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The company has a market cap of $3.84 billion, a P/E ratio of -29.79 and a beta of 3.25.

Bloom Energy (NYSE:BE - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $326.02 million for the quarter, compared to analyst estimates of $294.27 million. During the same quarter in the prior year, the business posted ($0.17) EPS. The business's revenue was up 38.5% compared to the same quarter last year. On average, analysts forecast that Bloom Energy Co. will post -0.23 earnings per share for the current year.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. The trade was a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bloom Energy

A number of hedge funds have recently added to or reduced their stakes in BE. SPX Gestao de Recursos Ltda acquired a new position in Bloom Energy during the 4th quarter valued at about $4,442,000. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 buying an additional 262,247 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Bloom Energy during the fourth quarter worth $19,629,000. Charles Schwab Investment Management Inc. raised its position in 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 buying an additional 10,265 shares during the last quarter. Finally, Bailard Inc. bought a new position in Bloom Energy during the 4th quarter valued at $1,278,000. 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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