Bloom Energy - BE Stock Forecast, Price & News

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 power generation platform that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion. It serves data centers, hospitals, healthcare manufacturing facilities, biotechnology facilities, grocery stores, hardware stores, banks, telecom facilities and other critical infrastructure applications. The company was formerly known as Ion America Corp. and changed its name to Bloom Energy Corporation in September 2006. Bloom Energy Corporation was incorporated in 2001 and is headquartered in San Jose, California.

Analyst Ratings Changes

A number of research firms have recently weighed in on BE. JPMorgan Chase & Co. raised their price objective on Bloom Energy from $29.00 to $31.00 and gave the stock an "overweight" rating in a research report on Monday. Susquehanna Bancshares lowered their price objective on Bloom Energy from $33.00 to $28.00 in a research report on Tuesday, May 10th. KeyCorp reissued an "overweight" rating and issued a $30.00 price objective on shares of Bloom Energy in a research report on Thursday, June 2nd. Truist Financial raised their price objective on Bloom Energy to $19.00 in a research report on Friday, May 27th. Finally, Morgan Stanley reduced their target price on Bloom Energy from $25.00 to $21.00 and set an "equal weight" rating for the company in a research note on Monday, June 13th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $25.33.

Bloom Energy Trading Down 1.6 %

Shares of NYSE:BE traded down $0.39 during trading on Tuesday, reaching $24.76. 2,597,447 shares of the company traded hands, compared to its average volume of 3,424,839. The firm's fifty day simple moving average is $18.22 and its 200 day simple moving average is $18.97. The stock has a market cap of $4.41 billion, a P/E ratio of -19.97 and a beta of 3.19. Bloom Energy has a 12-month low of $11.47 and a 12-month high of $37.01.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, EVP Shawn Marie Soderberg sold 3,095 shares of Bloom Energy stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $17.14, for a total transaction of $53,048.30. Following the completion of the transaction, the executive vice president now owns 354,623 shares in the company, valued at approximately $6,078,238.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Kr Sridhar sold 10,937 shares of Bloom Energy stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $16.63, for a total value of $181,882.31. Following the sale, the chief executive officer now directly owns 501,938 shares in the company, valued at approximately $8,347,228.94. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Shawn Marie Soderberg sold 3,095 shares of Bloom Energy stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $17.14, for a total value of $53,048.30. Following the completion of the sale, the executive vice president now owns 354,623 shares in the company, valued at $6,078,238.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,934 shares of company stock worth $381,721. Insiders own 2.78% of the company's stock.