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.

Bloom Energy Stock Down 0.3 %

BE opened at $30.36 on Tuesday. Bloom Energy has a twelve month low of $11.47 and a twelve month high of $37.01. The company has a 50-day moving average price of $19.16 and a 200 day moving average price of $19.44. The company has a market cap of $5.41 billion, a PE ratio of -18.98 and a beta of 3.19.

Bloom Energy (NYSE:BE - Get Rating) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). Bloom Energy had a negative net margin of 28.46% and a negative return on equity of 738.94%. The firm had revenue of $243.24 million during the quarter, compared to the consensus estimate of $228.30 million. During the same quarter in the prior year, the firm earned ($0.34) EPS. The company's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Bloom Energy will post -1.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BE shares. Susquehanna Bancshares upped their price target on shares of Bloom Energy from $28.00 to $30.00 and gave the company a "positive" rating in a report on Wednesday, August 10th. Northland Securities started coverage on shares of Bloom Energy in a report on Friday, July 8th. They issued an "outperform" rating and a $28.00 price target on the stock. Piper Sandler began coverage on shares of Bloom Energy in a report on Wednesday, June 8th. They issued a "hold" rating and a $20.00 price target on the stock. Morgan Stanley lowered their target price on shares of Bloom Energy from $25.00 to $21.00 and set an "equal weight" rating on the stock in a research note on Monday, June 13th. Finally, Truist Financial increased their target price on shares of Bloom Energy from $19.00 to $31.00 and gave the stock a "hold" rating in a research note on Thursday, August 11th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $28.71.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, EVP Glen Griffiths sold 14,326 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $30.04, for a total value of $430,353.04. Following the completion of the sale, the executive vice president now owns 338,114 shares in the company, valued at approximately $10,156,944.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Bloom Energy news, EVP Glen Griffiths sold 14,326 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $30.04, for a total value of $430,353.04. Following the completion of the sale, the executive vice president now owns 338,114 shares in the company, valued at approximately $10,156,944.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Sharelynn Faye Moore sold 5,831 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $30.00, for a total transaction of $174,930.00. Following the completion of the sale, the chief marketing officer now owns 31,396 shares of the company's stock, valued at approximately $941,880. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,446 shares of company stock worth $977,690. Insiders own 2.78% of the company's stock.