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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Piper Sandler assumed coverage on Bloom Energy in a research note on Wednesday, June 8th. They set a "hold" rating and a $20.00 target price on the stock. Susquehanna raised their price objective on Bloom Energy from $28.00 to $30.00 and gave the stock a "positive" rating in a research note on Wednesday, August 10th. Raymond James raised their price objective on Bloom Energy from $23.00 to $29.00 in a research note on Wednesday, August 10th. Wells Fargo & Company raised their price objective on Bloom Energy from $30.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, August 11th. Finally, KeyCorp raised their price objective on Bloom Energy from $24.00 to $33.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 10th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $28.71.

Bloom Energy Stock Down 11.7 %

NYSE:BE opened at $26.80 on Wednesday. Bloom Energy has a twelve month low of $11.47 and a twelve month high of $37.01. The company has a market cap of $4.78 billion, a price-to-earnings ratio of -16.75 and a beta of 3.19. The business's fifty day moving average is $19.31 and its 200 day moving average is $19.49.

Bloom Energy (NYSE:BE - Get Rating) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). The company had revenue of $243.24 million for the quarter, compared to the consensus estimate of $228.30 million. Bloom Energy had a negative return on equity of 738.94% and a negative net margin of 28.46%. Bloom Energy's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.34) EPS. On average, research analysts anticipate that Bloom Energy will post -1.01 earnings per share for the current fiscal year.

Insider Transactions at Bloom Energy

In other 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 value of $53,048.30. Following the completion of the transaction, the executive vice president now directly owns 354,623 shares of the company's stock, valued at approximately $6,078,238.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Bloom Energy news, EVP Shawn Marie Soderberg sold 3,095 shares of the business's stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 354,623 shares of the company's stock, valued at approximately $6,078,238.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Sharelynn Faye Moore sold 5,831 shares of the business's stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $30.00, for a total value of $174,930.00. Following the sale, the chief marketing officer now directly owns 31,396 shares of the company's stock, valued at $941,880. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,446 shares of company stock valued at $977,690. Corporate insiders own 2.78% of the company's stock.