Bloom Energy (NYSE:BE) Trading Up 3.8% - Should You Buy?

Bloom Energy Co. (NYSE:BE - Get Free Report) shares were up 3.8% during mid-day trading on Friday . The company traded as high as $19.12 and last traded at $19.06. Approximately 659,466 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 6,588,221 shares. The stock had previously closed at $18.37.

Analysts Set New Price Targets

BE has been the subject of several recent analyst reports. Piper Sandler cut their price objective on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. HSBC raised Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price objective for the company in a research note on Tuesday, April 8th. Hsbc Global Res raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Jefferies Financial Group cut their target price on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Finally, Mizuho raised Bloom Energy from a "neutral" rating to an "outperform" rating and dropped their target price for the company from $28.00 to $26.00 in a report on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Bloom Energy currently has a consensus rating of "Moderate Buy" and an average target price of $22.97.

Bloom Energy Price Performance

The stock's fifty day moving average price is $18.71 and its 200-day moving average price is $22.10. 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 firm has a market cap of $4.57 billion, a PE ratio of -35.11 and a beta of 3.25.

Bloom Energy (NYSE:BE - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating 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 company had revenue of $326.02 million during the quarter, compared to analysts' expectations of $294.27 million. During the same period last year, the company posted ($0.17) earnings per share. The firm's quarterly revenue was up 38.5% compared to the same quarter last year. As a group, equities analysts forecast that Bloom Energy Co. will post -0.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 1,496 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $19.89, for a total transaction of $29,755.44. Following the completion of the sale, the insider now directly owns 229,682 shares of the company's stock, valued at $4,568,374.98. The trade was a 0.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kr Sridhar sold 42,383 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total transaction of $811,210.62. Following the sale, the chief executive officer now directly owns 2,724,613 shares of the company's stock, valued at $52,149,092.82. This represents a 1.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,375 shares of company stock valued at $1,053,445. Corporate insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Bloom Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Strs Ohio purchased a new stake in Bloom Energy during the 1st quarter worth approximately $354,000. Intech Investment Management LLC boosted its stake in shares of Bloom Energy by 44.9% during the 1st quarter. Intech Investment Management LLC now owns 103,094 shares of the company's stock valued at $2,027,000 after buying an additional 31,969 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of Bloom Energy by 30.7% during the 1st quarter. Focus Partners Wealth now owns 20,063 shares of the company's stock valued at $394,000 after buying an additional 4,716 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Bloom Energy during the 1st quarter valued at approximately $384,000. Finally, Goldman Sachs Group Inc. boosted its stake in Bloom Energy by 50.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company's stock valued at $49,127,000 after acquiring an additional 836,810 shares during the last quarter. Hedge funds and other institutional investors 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.