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.
Read Our Latest Stock Analysis on Bloom Energy
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
(
Get Free Report)
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.
Featured Stories

Before you consider Bloom Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bloom Energy wasn't on the list.
While Bloom Energy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.