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 Price Performance

Shares of NYSE:BE traded down $1.24 during mid-day trading on Friday, hitting $25.33. The company had a trading volume of 176,676 shares, compared to its average volume of 4,183,103. The firm has a fifty day moving average price of $19.64 and a 200 day moving average price of $19.62. The company has a market capitalization of $4.51 billion, a PE ratio of -16.61 and a beta of 3.19. Bloom Energy has a one year low of $11.47 and a one year high of $37.01.

Bloom Energy (NYSE:BE - Get Rating) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.06). The company had revenue of $243.24 million during the quarter, compared to the consensus estimate of $228.30 million. Bloom Energy had a negative net margin of 28.46% and a negative return on equity of 738.94%. The business's revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.34) EPS. Research analysts expect that Bloom Energy will post -1.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BE has been the topic of several recent research reports. Morgan Stanley lifted their target price on shares of Bloom Energy from $21.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Thursday. Credit Suisse Group lifted their target price on shares of Bloom Energy from $32.00 to $33.00 and gave the stock an "outperform" rating in a research report on Thursday, August 11th. JPMorgan Chase & Co. lifted their target price on shares of Bloom Energy from $29.00 to $31.00 and gave the stock an "overweight" rating in a research report on Monday, August 8th. Truist Financial lifted their target price on shares of Bloom Energy from $19.00 to $31.00 and gave the stock a "hold" rating in a research report on Thursday, August 11th. Finally, Piper Sandler assumed coverage on shares of Bloom Energy in a research report on Wednesday, June 8th. They set a "hold" rating and a $20.00 target price on the stock. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.57.

Insider Activity

In other Bloom Energy news, EVP Glen Griffiths sold 14,326 shares of the business's stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $30.04, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Bloom Energy news, EVP Shawn Marie Soderberg sold 3,095 shares of the business's stock in a transaction on Friday, June 17th. The shares were 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 owns 354,623 shares in the company, valued at approximately $6,078,238.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Glen Griffiths sold 14,326 shares of Bloom Energy stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $30.04, for a total transaction of $430,353.04. Following the transaction, the executive vice president now directly owns 338,114 shares in the company, valued at $10,156,944.56. The disclosure for this sale can be found here. Insiders sold 40,049 shares of company stock worth $940,009 in the last quarter. 2.78% of the stock is owned by corporate insiders.