Bloom Energy (NYSE:BE) Price Target Raised to $105.00

Bloom Energy (NYSE:BE) had its price objective increased by TD Cowen to $105.00 in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. The firm currently has a hold rating on the stock.

Other equities research analysts have also issued research reports about the stock. Robert W. Baird increased their price objective on shares of Bloom Energy from $45.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Bank of America increased their price objective on shares of Bloom Energy from $24.00 to $26.00 and gave the stock an “underperform” rating in a research note on Monday, October 20th. Morgan Stanley increased their price objective on shares of Bloom Energy from $35.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. UBS Group increased their price objective on shares of Bloom Energy to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Finally, Roth Capital increased their price objective on shares of Bloom Energy from $34.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, September 19th. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.65.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $132.51 on Wednesday. The firm has a market cap of $31.01 billion, a PE ratio of 710.28, a price-to-earnings-growth ratio of 228.14 and a beta of 3.48. The firm’s 50-day simple moving average is $83.10 and its 200-day simple moving average is $45.36. The company has a debt-to-equity ratio of 1.98, a quick ratio of 3.21 and a current ratio of 4.40. Bloom Energy has a 1 year low of $9.59 and a 1 year high of $144.20.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.07. The firm had revenue of $519.05 million for the quarter, compared to analyst estimates of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. Bloom Energy’s quarterly revenue was up 57.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) earnings per share. Equities analysts forecast that Bloom Energy will post -0.23 earnings per share for the current fiscal year.

Insider Transactions at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 60,000 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $48.97, for a total value of $2,938,200.00. Following the completion of the transaction, the chief executive officer owned 2,324,613 shares in the company, valued at approximately $113,836,298.61. This represents a 2.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shawn Marie Soderberg sold 45,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $43.31, for a total transaction of $1,948,950.00. Following the completion of the transaction, the insider owned 229,682 shares of the company’s stock, valued at $9,947,527.42. This trade represents a 16.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 301,193 shares of company stock worth $14,893,710 in the last quarter. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BE. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Bloom Energy by 54.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 24,669 shares of the company’s stock valued at $485,000 after acquiring an additional 8,743 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Bloom Energy in the first quarter valued at approximately $5,848,000. Teacher Retirement System of Texas boosted its holdings in shares of Bloom Energy by 662.4% in the first quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company’s stock valued at $1,445,000 after acquiring an additional 63,875 shares in the last quarter. Hartline Investment Corp bought a new position in shares of Bloom Energy in the first quarter valued at approximately $204,000. Finally, Concurrent Investment Advisors LLC boosted its holdings in shares of Bloom Energy by 208.9% in the first quarter. Concurrent Investment Advisors LLC now owns 39,925 shares of the company’s stock valued at $785,000 after acquiring an additional 27,001 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.