Bloom Energy (NYSE:BE) Trading Up 6.7% - Still a Buy?

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

Analysts Set New Price Targets

BE has been the subject of a number of recent analyst reports. Piper Sandler lowered their target price on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Redburn Atlantic lowered shares of Bloom Energy from a "neutral" rating to a "sell" rating and lowered their target price for the company from $14.50 to $10.00 in a research note on Wednesday, April 9th. BMO Capital Markets reissued a "market perform" rating on shares of Bloom Energy in a research note on Friday, February 28th. Truist Financial lowered their target price on shares of Bloom Energy from $22.00 to $19.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Finally, Susquehanna lowered their target price on shares of Bloom Energy from $33.00 to $26.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.97.

Bloom Energy Price Performance

The firm has a market capitalization of $4.76 billion, a P/E ratio of -36.61 and a beta of 3.25. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The stock's fifty day simple moving average is $18.35 and its 200 day simple moving average is $22.21.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.10. Bloom Energy had a negative return on equity of 20.32% and a negative net margin of 10.29%. The business had revenue of $326.02 million for the quarter, compared to analyst estimates of $294.27 million. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. The company's revenue was up 38.5% on a year-over-year basis. On average, equities research analysts predict that Bloom Energy Co. will post -0.23 EPS for the current year.

Insider Transactions at Bloom Energy

In other news, insider Aman Joshi sold 4,658 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total transaction of $91,855.76. Following the sale, the insider now owns 131,371 shares in the company, valued at approximately $2,590,636.12. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 42,383 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were 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 now owns 2,724,613 shares in the company, valued at approximately $52,149,092.82. This represents a 1.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,375 shares of company stock worth $1,053,445. Insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Bloom Energy

Large investors have recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in shares of Bloom Energy by 2.8% in the first quarter. Rhumbline Advisers now owns 298,283 shares of the company's stock worth $5,864,000 after buying an additional 8,212 shares during the last quarter. Strs Ohio purchased a new position in Bloom Energy during the first quarter valued at approximately $354,000. Intech Investment Management LLC raised its position in Bloom Energy by 44.9% during the first quarter. Intech Investment Management LLC now owns 103,094 shares of the company's stock valued at $2,027,000 after acquiring an additional 31,969 shares in the last quarter. Focus Partners Wealth raised its position in Bloom Energy by 30.7% during the first quarter. Focus Partners Wealth now owns 20,063 shares of the company's stock valued at $394,000 after acquiring an additional 4,716 shares in the last quarter. Finally, Caxton Associates LLP purchased a new position in Bloom Energy during the first quarter valued at approximately $384,000. 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.