Bloom Energy Corp (NYSE:BE) shares gapped up prior to trading on Tuesday . The stock had previously closed at $12.87, but opened at $11.81. Bloom Energy shares last traded at $11.51, with a volume of 1,554,096 shares trading hands.
A number of research analysts recently commented on the company. ValuEngine downgraded Bloom Energy from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 23rd. Zacks Investment Research raised Bloom Energy from a “hold” rating to a “strong-buy” rating and set a $9.50 price target for the company in a report on Tuesday, May 19th. Morgan Stanley increased their price target on Bloom Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. increased their price target on Bloom Energy from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $10.79.
The business has a fifty day simple moving average of $8.70 and a 200 day simple moving average of $8.10. The company has a market cap of $1.47 billion, a P/E ratio of -5.79 and a beta of 3.23.
Bloom Energy (NYSE:BE) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.31. The company had revenue of $156.70 million for the quarter, compared to analyst estimates of $152.45 million. The firm’s revenue for the quarter was down 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.22) earnings per share. On average, research analysts predict that Bloom Energy Corp will post -1.93 earnings per share for the current fiscal year.
In related news, EVP Christopher White sold 22,755 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $9.25, for a total value of $210,483.75. Following the sale, the executive vice president now directly owns 307,245 shares in the company, valued at approximately $2,842,016.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Susan Seilheimer Brennan sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $8.25, for a total value of $82,500.00. Following the completion of the sale, the chief operating officer now owns 120,854 shares in the company, valued at $997,045.50. The disclosure for this sale can be found here. Insiders have sold a total of 36,755 shares of company stock worth $329,084 over the last quarter. Insiders own 26.82% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of BE. Great West Life Assurance Co. Can acquired a new position in shares of Bloom Energy during the 4th quarter valued at $27,000. Gradient Investments LLC acquired a new position in shares of Bloom Energy during the 1st quarter valued at $28,000. Verus Capital Partners LLC acquired a new position in shares of Bloom Energy during the 4th quarter valued at $51,000. Rockefeller Capital Management L.P. increased its position in shares of Bloom Energy by 454.8% during the 1st quarter. Rockefeller Capital Management L.P. now owns 10,003 shares of the company’s stock valued at $52,000 after purchasing an additional 8,200 shares during the period. Finally, Independence Advisors LLC acquired a new position in shares of Bloom Energy during the 1st quarter valued at $54,000. Hedge funds and other institutional investors own 40.19% of the company’s stock.
About Bloom Energy (NYSE:BE)
Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. The company offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion.
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