Bloom Energy (NYSE:BE) had its target price lowered by stock analysts at Morgan Stanley from $28.00 to $27.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price objective would suggest a potential upside of 5.35% from the company's previous close.
A number of other analysts have also issued reports on the company. Sanford C. Bernstein assumed coverage on Bloom Energy in a research note on Wednesday, February 3rd. They issued a "market perform" rating on the stock. Northcoast Research assumed coverage on Bloom Energy in a research note on Tuesday, March 30th. They set a "buy" rating and a $35.00 price objective on the stock. Raymond James raised Bloom Energy from a "market perform" rating to an "outperform" rating and set a $33.00 price objective on the stock in a research note on Wednesday, March 10th. Credit Suisse Group raised Bloom Energy from a "neutral" rating to an "outperform" rating and set a $35.00 price objective on the stock in a research note on Monday, March 15th. Finally, JPMorgan Chase & Co. raised Bloom Energy from a "neutral" rating to an "overweight" rating and set a $36.00 price objective on the stock in a research note on Thursday. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Bloom Energy currently has a consensus rating of "Hold" and a consensus price target of $29.56.
Bloom Energy stock opened at $25.63 on Monday. The company has a debt-to-equity ratio of 20.91, a current ratio of 1.67 and a quick ratio of 1.33. The business has a 50 day simple moving average of $25.98 and a 200-day simple moving average of $27.08. The stock has a market capitalization of $4.40 billion, a PE ratio of -15.92 and a beta of 3.77. Bloom Energy has a 12 month low of $6.93 and a 12 month high of $44.95.
Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Wednesday, February 10th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of ($0.15) by $0.07. The firm had revenue of $249.40 million during the quarter, compared to analyst estimates of $223.41 million. The firm's revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts anticipate that Bloom Energy will post -1.17 EPS for the current fiscal year.
In related news, CEO Kr Sridhar sold 45,256 shares of the business's stock in a transaction on Tuesday, April 6th. The stock was sold at an average price of $25.74, for a total value of $1,164,889.44. Following the sale, the chief executive officer now owns 519,767 shares in the company, valued at approximately $13,378,802.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Swaminathan Venkataraman sold 11,499 shares of the business's stock in a transaction on Tuesday, January 26th. The shares were sold at an average price of $38.92, for a total value of $447,541.08. Following the completion of the sale, the executive vice president now owns 152,334 shares in the company, valued at approximately $5,928,839.28. The disclosure for this sale can be found here. Insiders sold 129,889 shares of company stock worth $3,742,136 in the last 90 days. Company insiders own 26.82% of the company's stock.
Hedge funds have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. increased its holdings in Bloom Energy by 738.6% during the 4th quarter. UBS Asset Management Americas Inc. now owns 2,322,998 shares of the company's stock worth $66,577,000 after purchasing an additional 2,045,980 shares during the period. BlackRock Inc. increased its holdings in Bloom Energy by 16.9% during the 4th quarter. BlackRock Inc. now owns 6,671,415 shares of the company's stock worth $191,202,000 after purchasing an additional 965,093 shares during the period. Morgan Stanley increased its holdings in Bloom Energy by 24.1% during the 4th quarter. Morgan Stanley now owns 4,672,611 shares of the company's stock worth $133,917,000 after purchasing an additional 907,004 shares during the period. Wells Fargo & Company MN increased its holdings in Bloom Energy by 70.5% during the 4th quarter. Wells Fargo & Company MN now owns 2,173,925 shares of the company's stock worth $62,305,000 after purchasing an additional 898,923 shares during the period. Finally, Norges Bank purchased a new stake in Bloom Energy during the 4th quarter worth about $24,978,000. Hedge funds and other institutional investors own 49.58% of the company's stock.
Bloom Energy Company Profile
Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation in the United States, Japan, China, India, and the Republic of Korea. The company offers Bloom Energy Server, a power generation platform that converts standard low-pressure natural gas, biogas, or hydrogen into electricity through an electrochemical process without combustion.
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