Bloom Energy (NYSE:BE) Trading Up 9.2%

Bloom Energy Co. (NYSE:BE - Get Free Report) rose 9.2% during trading on Tuesday . The company traded as high as $10.21 and last traded at $10.18. Approximately 1,208,700 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 5,539,007 shares. The stock had previously closed at $9.32.

Analysts Set New Price Targets

BE has been the topic of several recent research reports. Morgan Stanley reaffirmed an "overweight" rating and set a $22.00 price objective on shares of Bloom Energy in a report on Monday, March 25th. Evercore ISI initiated coverage on Bloom Energy in a report on Monday, April 1st. They set an "outperform" rating and a $21.00 price objective on the stock. Susquehanna decreased their price objective on Bloom Energy from $18.00 to $16.00 and set a "positive" rating on the stock in a report on Wednesday, March 27th. Truist Financial raised Bloom Energy from a "sell" rating to a "hold" rating and upped their price objective for the stock from $9.00 to $11.00 in a report on Wednesday, March 6th. Finally, Raymond James decreased their price objective on Bloom Energy from $20.00 to $16.00 and set an "outperform" rating on the stock in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $16.69.

Bloom Energy Stock Performance

The company has a quick ratio of 2.53, a current ratio of 3.60 and a debt-to-equity ratio of 2.41. The business has a 50 day simple moving average of $10.19 and a two-hundred day simple moving average of $11.72. The firm has a market cap of $2.21 billion, a PE ratio of -7.02 and a beta of 2.79.

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

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 8,963 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total transaction of $88,375.18. Following the transaction, the insider now owns 168,003 shares of the company's stock, valued at approximately $1,656,509.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Shawn Marie Soderberg sold 8,963 shares of the firm's stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total transaction of $88,375.18. Following the sale, the insider now owns 168,003 shares of the company's stock, valued at $1,656,509.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $9.74, for a total value of $494,266.04. Following the completion of the sale, the chief executive officer now owns 2,702,608 shares of the company's stock, valued at $26,323,401.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,989 shares of company stock valued at $725,292. 3.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Bloom Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millburn Ridgefield Corp acquired a new stake in Bloom Energy in the third quarter valued at approximately $33,000. Quest Partners LLC acquired a new stake in Bloom Energy in the fourth quarter valued at approximately $51,000. Allspring Global Investments Holdings LLC grew its holdings in Bloom Energy by 17.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company's stock valued at $102,000 after purchasing an additional 1,117 shares during the period. Fairman Group LLC acquired a new stake in shares of Bloom Energy in the fourth quarter worth approximately $146,000. Finally, AM Investment Strategies LLC acquired a new stake in shares of Bloom Energy in the third quarter worth approximately $133,000. 77.04% of the stock is 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.