Bloom Energy (NYSE:BE) Shares Up 6.7%

Shares of Bloom Energy Co. (NYSE:BE) were up 6.7% on Tuesday . The company traded as high as $10.45 and last traded at $10.44. Approximately 1,587,778 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 5,925,746 shares. The stock had previously closed at $9.78.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BE. Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 price target on shares of Bloom Energy in a research note on Thursday, June 20th. JPMorgan Chase & Co. boosted their price objective on shares of Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Jefferies Financial Group cut shares of Bloom Energy from a “buy” rating to a “hold” rating and lowered their price target for the stock from $15.00 to $11.00 in a research note on Friday, September 6th. BTIG Research boosted their price objective on shares of Bloom Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, UBS Group lowered their target price on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $15.88.

Bloom Energy Stock Performance

The company has a market capitalization of $2.29 billion, a P/E ratio of -7.61 and a beta of 2.69. The company has a quick ratio of 3.33, a current ratio of 4.65 and a debt-to-equity ratio of 3.43. The stock has a fifty day simple moving average of $12.16 and a 200-day simple moving average of $12.12.

Bloom Energy (NYSE:BE) last released its earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $335.80 million for the quarter, compared to analysts’ expectations of $307.73 million. Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.32) EPS. Equities analysts forecast that Bloom Energy Co. will post -0.25 EPS for the current year.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 2,094 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total value of $30,425.82. Following the completion of the sale, the insider now owns 168,867 shares of the company’s stock, valued at $2,453,637.51. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

A number of hedge funds have recently bought and sold shares of BE. Vanguard Group Inc. boosted its position in shares of Bloom Energy by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 19,528,801 shares of the company’s stock valued at $289,026,000 after acquiring an additional 307,627 shares during the last quarter. Electron Capital Partners LLC purchased a new position in Bloom Energy in the 4th quarter worth approximately $27,796,000. Norges Bank purchased a new position in Bloom Energy in the 4th quarter worth approximately $82,678,000. DekaBank Deutsche Girozentrale increased its stake in shares of Bloom Energy by 762.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 504,591 shares of the company’s stock valued at $5,712,000 after buying an additional 446,074 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Bloom Energy by 99,266.7% during the first quarter. Russell Investments Group Ltd. now owns 146,069 shares of the company’s stock valued at $1,642,000 after purchasing an additional 145,922 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors.

About Bloom Energy

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 solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.