Bloom Energy (NYSE:BE) Trading 4.6% Higher

Shares of Bloom Energy Co. (NYSE:BE - Get Free Report) shot up 4.6% during mid-day trading on Tuesday . The company traded as high as $10.60 and last traded at $10.50. 726,761 shares were traded during trading, a decline of 87% from the average session volume of 5,439,900 shares. The stock had previously closed at $10.04.

Analyst Ratings Changes

A number of research firms have issued reports on BE. BTIG Research began coverage on shares of Bloom Energy in a report on Thursday, January 25th. They set a "buy" rating and a $21.00 price target for the company. Susquehanna decreased their price target on shares of Bloom Energy from $21.00 to $18.00 and set a "positive" rating for the company in a report on Friday, February 16th. Robert W. Baird upgraded shares of Bloom Energy from a "neutral" rating to an "outperform" rating and upped their price target for the company from $16.00 to $22.00 in a report on Wednesday, January 10th. Piper Sandler cut their price objective on shares of Bloom Energy from $14.00 to $11.00 and set a "neutral" rating for the company in a research report on Friday, February 16th. Finally, Redburn Atlantic began coverage on shares of Bloom Energy in a research report on Tuesday, February 6th. They set a "neutral" rating and a $12.50 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $16.56.

Bloom Energy Stock Performance

The company has a debt-to-equity ratio of 2.41, a quick ratio of 2.53 and a current ratio of 3.60. The stock's fifty day moving average price is $10.47 and its 200-day moving average price is $12.08. The company has a market capitalization of $2.43 billion, a P/E ratio of -7.45 and a beta of 2.76.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.11. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. The business had revenue of $356.92 million for the quarter, compared to analyst estimates of $481.90 million. As a group, research analysts anticipate that Bloom Energy Co. will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bloom Energy news, EVP Shawn Marie Soderberg sold 13,120 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $9.34, for a total transaction of $122,540.80. Following the transaction, the executive vice president now owns 73,946 shares in the company, valued at approximately $690,655.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Shawn Marie Soderberg sold 13,120 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $9.34, for a total transaction of $122,540.80. Following the sale, the executive vice president now owns 73,946 shares in the company, valued at approximately $690,655.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $9.74, for a total transaction of $494,266.04. Following the sale, the chief executive officer now owns 2,702,608 shares in the company, valued at approximately $26,323,401.92. The disclosure for this sale can be found here. Insiders have sold a total of 67,782 shares of company stock worth $658,463 in the last quarter. Corporate insiders own 8.81% of the company's stock.

Hedge Funds Weigh In On Bloom Energy

Large investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in Bloom Energy by 1.3% in the first quarter. BlackRock Inc. now owns 21,141,205 shares of the company's stock worth $421,344,000 after purchasing an additional 263,507 shares during the period. Vanguard Group Inc. raised its position in Bloom Energy by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 19,528,801 shares of the company's stock worth $289,026,000 after acquiring an additional 307,627 shares during the period. Norges Bank bought a new stake in Bloom Energy in the fourth quarter worth about $82,678,000. State Street Corp raised its position in Bloom Energy by 2.8% in the first quarter. State Street Corp now owns 4,586,967 shares of the company's stock worth $91,417,000 after acquiring an additional 125,720 shares during the period. Finally, Coatue Management LLC raised its position in shares of Bloom Energy by 28.3% in the fourth quarter. Coatue Management LLC now owns 4,436,901 shares of the company's stock valued at $65,666,000 after purchasing an additional 978,053 shares during the period. Institutional investors own 82.95% 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.