Bloom Energy (NYSE:BE) Stock Price Up 4.6%

Shares of Bloom Energy Co. (NYSE:BE) shot up 4.6% on Tuesday . The stock traded as high as $10.60 and last traded at $10.50. 726,761 shares were traded during trading, a decline of 87% from the average session volume of 5,439,900 shares. The stock had previously closed at $10.04.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BE shares. BMO Capital Markets lowered their target price on shares of Bloom Energy from $11.00 to $10.00 and set a “market perform” rating for the company in a report on Friday, February 16th. Susquehanna dropped their price objective on Bloom Energy from $18.00 to $16.00 and set a “positive” rating for the company in a report on Wednesday. BTIG Research initiated coverage on Bloom Energy in a research note on Thursday, January 25th. They set a “buy” rating and a $21.00 price target for the company. KeyCorp lowered Bloom Energy from an “overweight” rating to a “sector weight” rating in a research note on Friday, February 16th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $22.00 target price on shares of Bloom Energy in a report on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $16.44.

Bloom Energy Price Performance

The stock’s 50 day simple moving average is $10.46 and its 200-day simple moving average is $12.08. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -7.61 and a beta of 2.76. The company has a debt-to-equity ratio of 2.41, a current ratio of 3.60 and a quick ratio of 2.53.

Bloom Energy (NYSE:BE) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.11. Bloom Energy had a negative return on equity of 23.88% and a negative net margin of 22.66%. The company had revenue of $356.92 million during the quarter, compared to the consensus estimate of $481.90 million. On average, analysts expect that Bloom Energy Co. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling at Bloom Energy

In related news, EVP Shawn Marie Soderberg sold 13,120 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $9.34, for a total transaction of $122,540.80. Following the completion of the sale, the executive vice president now owns 73,946 shares in the company, valued at approximately $690,655.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of Bloom Energy stock in a transaction on Monday, March 18th. The stock was sold at an average price of $9.74, for a total value of $494,266.04. Following the completion of the transaction, the chief executive officer now owns 2,702,608 shares in the company, valued at approximately $26,323,401.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Shawn Marie Soderberg sold 13,120 shares of Bloom Energy stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $9.34, for a total value of $122,540.80. Following the completion of the transaction, the executive vice president now directly owns 73,946 shares of the company’s stock, valued at $690,655.64. The disclosure for this sale can be found here. Insiders sold 67,782 shares of company stock worth $658,463 over the last ninety days. Company insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Bloom Energy in the fourth quarter valued at about $82,678,000. FMR LLC grew its holdings in Bloom Energy by 168.8% during the third quarter. FMR LLC now owns 3,524,361 shares of the company’s stock valued at $46,733,000 after purchasing an additional 2,213,167 shares during the period. Electron Capital Partners LLC bought a new stake in Bloom Energy in the fourth quarter valued at approximately $27,796,000. Vanguard Group Inc. raised its holdings in Bloom Energy by 12.8% in the third quarter. Vanguard Group Inc. now owns 16,259,631 shares of the company’s stock worth $325,030,000 after purchasing an additional 1,842,320 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its position in shares of Bloom Energy by 391.5% during the second quarter. Frontier Capital Management Co. LLC now owns 2,252,606 shares of the company’s stock worth $36,830,000 after purchasing an additional 1,794,303 shares in the last quarter. 77.04% of the stock is owned by institutional investors.

Bloom Energy Company Profile

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.