Bloom Energy (NYSE:BE) Rating Increased 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 research note published on Wednesday morning, MarketBeat reports. They currently have $33.00 target price on the stock, up from their previous target price of $18.00.

A number of other research analysts also recently weighed in on the stock. Truist Financial reduced 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 report on Monday, April 21st. Morgan Stanley decreased their price objective on Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. UBS Group reiterated a "buy" rating on shares of Bloom Energy in a research note on Wednesday, July 2nd. HSBC upgraded Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price objective on the stock in a research note on Tuesday, April 8th. Finally, Roth Mkm decreased their price objective on Bloom Energy from $26.00 to $20.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Bloom Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.97.

Bloom Energy Stock Down 1.6%

BE stock traded down $0.41 during midday trading on Wednesday, reaching $25.44. 7,236,700 shares of the company's stock traded hands, compared to its average volume of 6,481,323. The company has a quick ratio of 2.39, a current ratio of 3.44 and a debt-to-equity ratio of 2.07. The firm's fifty day moving average price is $20.83 and its 200-day moving average price is $21.79. Bloom Energy has a 52 week low of $9.02 and a 52 week high of $29.83. The company has a market cap of $5.91 billion, a price-to-earnings ratio of -508.70 and a beta of 3.22.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $326.02 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the company earned ($0.17) earnings per share. As a group, sell-side analysts forecast that Bloom Energy will post -0.23 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Aman Joshi sold 4,658 shares of the stock in a transaction on 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 owned 131,371 shares of the company's stock, valued at approximately $2,590,636.12. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kr Sridhar sold 42,383 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total transaction of $811,210.62. Following the transaction, the chief executive officer directly owned 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. In the last 90 days, insiders have sold 62,501 shares of company stock worth $1,236,191. Corporate insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Bloom Energy

A number of large investors have recently added to or reduced their stakes in BE. Norges Bank bought a new stake in Bloom Energy in the 4th quarter worth $93,951,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Bloom Energy during the 4th quarter valued at about $61,968,000. Trivest Advisors Ltd bought a new stake in shares of Bloom Energy during the 4th quarter valued at about $30,539,000. Tree Line Advisors Hong Kong Ltd. bought a new stake in shares of Bloom Energy during the 1st quarter valued at about $22,609,000. Finally, Voloridge Investment Management LLC boosted its stake in shares of Bloom Energy by 323.6% during the 4th quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company's stock valued at $31,992,000 after purchasing an additional 1,100,352 shares in the last quarter. 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.