Bloom Energy (NYSE:BE) Raised to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Bloom Energy (NYSE:BE - Free Report) from a neutral rating to an overweight rating in a report published on Wednesday, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has $33.00 target price on the stock, up from their prior target price of $18.00.

Several other analysts also recently issued reports on the stock. Robert W. Baird reduced their price target on shares of Bloom Energy from $32.00 to $27.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Jefferies Financial Group cut their price target 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. 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 report on Tuesday, April 8th. Susquehanna dropped their price objective on shares of Bloom Energy from $33.00 to $26.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Finally, Redburn Atlantic downgraded shares of Bloom Energy from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $14.50 to $10.00 in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $23.97.

Bloom Energy Stock Up 17.9%

NYSE:BE traded up $4.35 during midday trading on Wednesday, hitting $28.65. 21,913,330 shares of the company were exchanged, compared to its average volume of 6,380,973. The company has a fifty day simple moving average of $20.44 and a 200 day simple moving average of $21.73. Bloom Energy has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. The company has a current ratio of 3.44, a quick ratio of 2.39 and a debt-to-equity ratio of 2.07. The company has a market capitalization of $6.65 billion, a PE ratio of -572.89 and a beta of 3.22.

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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.10. The business had revenue of $326.02 million for the quarter, compared to analyst estimates of $294.27 million. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The business's revenue was up 38.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.17) earnings per share. As a group, equities analysts anticipate that Bloom Energy will post -0.23 earnings per share for the current fiscal year.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Maciej Kurzymski sold 8,733 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $22.79, for a total transaction of $199,025.07. Following the transaction, the insider owned 109,860 shares of the company's stock, valued at approximately $2,503,709.40. This trade represents a 7.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Aman Joshi sold 4,658 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total transaction of $91,855.76. Following the transaction, the insider directly owned 131,371 shares in the company, valued at approximately $2,590,636.12. The trade was a 3.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,501 shares of company stock worth $1,236,191 over the last 90 days. Corporate insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On Bloom Energy

Several large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Bloom Energy in the 4th quarter worth approximately $93,951,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Bloom Energy in the fourth quarter worth approximately $61,968,000. Trivest Advisors Ltd purchased a new position in shares of Bloom Energy in the fourth quarter worth approximately $30,539,000. Tree Line Advisors Hong Kong Ltd. purchased a new position in shares of Bloom Energy in the first quarter worth approximately $22,609,000. Finally, Voloridge Investment Management LLC increased its position in shares of Bloom Energy by 323.6% in the fourth quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company's stock worth $31,992,000 after acquiring an additional 1,100,352 shares in the last quarter. Institutional investors and hedge funds 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.