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 report sent to investors on Wednesday morning, Marketbeat reports. JPMorgan Chase & Co. currently has $33.00 price target on the stock, up from their prior price target of $18.00.

Other analysts also recently issued reports about the company. Royal Bank Of Canada set a $26.00 price target on Bloom Energy in a research note on Monday, April 14th. Jefferies Financial Group decreased their price target 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. Roth Mkm reduced their price objective on Bloom Energy from $26.00 to $20.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Hsbc Global Res raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Susquehanna reduced their price objective on Bloom Energy from $33.00 to $26.00 and set a "positive" rating for the company in a report on Monday, April 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $23.97.

Bloom Energy Price Performance

Shares of Bloom Energy stock traded down $2.64 during trading on Wednesday, reaching $26.07. The company's stock had a trading volume of 12,152,309 shares, compared to its average volume of 6,422,815. The company has a quick ratio of 2.39, a current ratio of 3.44 and a debt-to-equity ratio of 2.07. Bloom Energy has a 12-month low of $9.02 and a 12-month high of $29.83. The company has a market capitalization of $6.05 billion, a P/E ratio of -521.30 and a beta of 3.22. The business has a 50 day moving average price of $20.65 and a 200-day moving average price of $21.78.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.10. Bloom Energy had a return on equity of 2.51% and a net margin of 0.29%. The firm had revenue of $326.02 million for the quarter, compared to the consensus estimate of $294.27 million. During the same period in the previous year, the business earned ($0.17) earnings per share. The company's revenue for the quarter was up 38.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bloom Energy will post -0.23 EPS for the current year.

Insider Buying and Selling

In related news, CEO Kr Sridhar sold 42,383 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total value of $811,210.62. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 2,780 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total value of $54,821.60. Following the completion of the transaction, the insider owned 152,890 shares of the company's stock, valued at $3,014,990.80. The trade was a 1.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,501 shares of company stock valued at $1,236,191. Company insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On Bloom Energy

Several institutional investors have recently added to or reduced their stakes in BE. Norges Bank acquired a new position in Bloom Energy in the fourth quarter valued at $93,951,000. Fuller & Thaler Asset Management Inc. acquired a new position in Bloom Energy in the fourth quarter valued at $61,968,000. Trivest Advisors Ltd purchased a new stake in Bloom Energy during the fourth quarter valued at about $30,539,000. Tree Line Advisors Hong Kong Ltd. acquired a new stake in Bloom Energy during the first quarter worth about $22,609,000. Finally, Voloridge Investment Management LLC increased its stake in Bloom Energy by 323.6% during 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 during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Company Profile

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.