Bloom Energy (NYSE:BE) Shares Up 6.7% - What's Next?

Bloom Energy Co. (NYSE:BE - Get Free Report)'s stock price traded up 6.7% during trading on Tuesday . The stock traded as high as $19.50 and last traded at $19.50. 955,006 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 6,432,591 shares. The stock had previously closed at $18.28.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BE shares. HSBC raised shares of 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. Piper Sandler decreased their price target 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. BMO Capital Markets restated a "market perform" rating on shares of Bloom Energy in a report on Friday, February 28th. Morgan Stanley cut their price objective on shares of Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Finally, Redburn Atlantic cut shares of Bloom Energy from a "neutral" rating to a "sell" rating and decreased their target price for the company from $14.50 to $10.00 in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.97.

Bloom Energy Stock Performance

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 stock has a market capitalization of $5.06 billion, a PE ratio of -38.95 and a beta of 3.25. The firm has a 50 day moving average price of $18.36 and a 200-day moving average price of $22.18.

Bloom Energy (NYSE:BE - Get Free Report) last posted 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. The company had revenue of $326.02 million during the quarter, compared to the consensus estimate of $294.27 million. Bloom Energy had a negative net margin of 10.29% and a negative return on equity of 20.32%. The firm's quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.17) earnings per share. Research analysts expect that Bloom Energy Co. will post -0.23 EPS for the current fiscal year.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,496 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $19.89, for a total transaction of $29,755.44. Following the completion of the transaction, the insider now directly owns 229,682 shares of the company's stock, valued at $4,568,374.98. This represents a 0.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the sale, the insider now directly owns 178,656 shares in the company, valued at $4,482,479.04. This represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,375 shares of company stock valued at $1,053,445 in the last 90 days. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

Large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in shares of Bloom Energy by 2.8% during the first quarter. Rhumbline Advisers now owns 298,283 shares of the company's stock worth $5,864,000 after purchasing an additional 8,212 shares in the last quarter. Strs Ohio acquired a new stake in Bloom Energy in the 1st quarter worth about $354,000. Intech Investment Management LLC increased its stake in Bloom Energy by 44.9% during the 1st quarter. Intech Investment Management LLC now owns 103,094 shares of the company's stock worth $2,027,000 after buying an additional 31,969 shares in the last quarter. Focus Partners Wealth increased its stake in Bloom Energy by 30.7% during the 1st quarter. Focus Partners Wealth now owns 20,063 shares of the company's stock worth $394,000 after buying an additional 4,716 shares in the last quarter. Finally, Caxton Associates LLP acquired a new position in shares of Bloom Energy during the first quarter valued at approximately $384,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.