Bloom Energy (NYSE:BE) Stock Rating Upgraded by 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 issued on Wednesday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $33.00 price objective on the stock, up from their previous price objective of $18.00.

A number of other analysts also recently weighed in on the stock. Royal Bank Of Canada set a $26.00 price target on shares of Bloom Energy in a research report on Monday, April 14th. Jefferies Financial Group reduced their price objective on Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Redburn Atlantic cut Bloom Energy from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $14.50 to $10.00 in a research note on Wednesday, April 9th. Piper Sandler reduced their price objective on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, Mizuho upgraded Bloom Energy from a "neutral" rating to an "outperform" rating and reduced their price objective for the stock from $28.00 to $26.00 in a research note on Monday, May 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Bloom Energy has a consensus rating of "Moderate Buy" and a consensus target price of $23.97.

Bloom Energy Stock Down 1.6%

Shares of BE stock traded down $0.41 during mid-day trading on Wednesday, reaching $25.44. 7,236,700 shares of the company were exchanged, compared to its average volume of 6,280,383. Bloom Energy has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. The company has a debt-to-equity ratio of 2.07, a quick ratio of 2.39 and a current ratio of 3.44. The company has a market capitalization of $5.91 billion, a P/E ratio of -508.70 and a beta of 3.22. The business's 50 day simple moving average is $21.01 and its 200 day simple moving average is $21.78.

Bloom Energy (NYSE:BE - Get Free Report) last released 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 net margin of 0.29% and a return on equity of 2.51%. The business had revenue of $326.02 million during the quarter, compared to the consensus estimate of $294.27 million. During the same quarter last year, the company earned ($0.17) earnings per share. The business's quarterly revenue was up 38.5% compared to the same quarter last year. Research analysts predict that Bloom Energy will post -0.23 earnings per share for the current year.

Insider Activity at Bloom Energy

In other news, insider Satish Chitoori sold 2,038 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $19.73, for a total transaction of $40,209.74. Following the transaction, the insider directly owned 176,618 shares of the company's stock, valued at approximately $3,484,673.14. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maciej Kurzymski sold 8,733 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $22.79, for a total value of $199,025.07. Following the transaction, the insider directly owned 109,860 shares in the company, valued at $2,503,709.40. This trade represents a 7.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 62,501 shares of company stock valued at $1,236,191. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

A number of institutional investors have recently bought and sold shares of the stock. Sender Co & Partners Inc. acquired a new stake in Bloom Energy during the 4th quarter worth about $283,000. Select Equity Group L.P. boosted its position in Bloom Energy by 125.5% during the 4th quarter. Select Equity Group L.P. now owns 278,515 shares of the company's stock worth $6,186,000 after acquiring an additional 154,993 shares during the period. SIR Capital Management L.P. boosted its position in Bloom Energy by 155.1% during the 4th quarter. SIR Capital Management L.P. now owns 572,798 shares of the company's stock worth $12,722,000 after acquiring an additional 348,279 shares during the period. Raymond James Financial Inc. acquired a new stake in Bloom Energy during the 4th quarter worth about $19,629,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Bloom Energy by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company's stock worth $36,737,000 after acquiring an additional 10,265 shares during the period. 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.