Bloom Energy (NYSE:BE) Earns “Overweight” Rating from Morgan Stanley

Morgan Stanley reaffirmed their overweight rating on shares of Bloom Energy (NYSE:BE) in a report issued on Monday, Benzinga reports. Morgan Stanley currently has a $22.00 price target on the stock.

A number of other analysts also recently issued reports on BE. Redburn Atlantic started coverage on Bloom Energy in a research note on Tuesday, February 6th. They issued a neutral rating and a $12.50 target price for the company. Royal Bank of Canada cut their price objective on shares of Bloom Energy from $21.00 to $14.00 and set an outperform rating for the company in a research report on Friday, February 16th. Piper Sandler lowered their target price on shares of Bloom Energy from $14.00 to $11.00 and set a neutral rating for the company in a research note on Friday, February 16th. Robert W. Baird raised shares of Bloom Energy from a neutral rating to an outperform rating and increased their target price for the stock from $16.00 to $22.00 in a research note on Wednesday, January 10th. Finally, KeyCorp lowered shares of Bloom Energy from an overweight rating to a sector weight rating in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $16.44.

Bloom Energy Stock Performance

Shares of BE stock opened at $11.03 on Monday. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -7.61 and a beta of 2.76. The company’s 50 day moving average is $10.46 and its 200 day moving average is $12.08. The company has a quick ratio of 2.53, a current ratio of 3.60 and a debt-to-equity ratio of 2.41. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $20.62.

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

Insider Activity at Bloom Energy

In related news, EVP Shawn Marie Soderberg sold 13,120 shares of the stock in a transaction on Friday, February 16th. The stock was 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 owns 73,946 shares in the company, valued at approximately $690,655.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Kr Sridhar sold 50,746 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at approximately $26,323,401.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Shawn Marie Soderberg sold 13,120 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $690,655.64. The disclosure for this sale can be found here. Insiders sold 67,782 shares of company stock valued at $658,463 over the last 90 days. 8.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

Several institutional investors have recently bought and sold shares of BE. Millburn Ridgefield Corp bought a new position in shares of Bloom Energy during the 3rd quarter valued at about $33,000. Quest Partners LLC acquired a new position in Bloom Energy in the 4th quarter valued at $51,000. Allspring Global Investments Holdings LLC grew its holdings in Bloom Energy by 17.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock valued at $102,000 after buying an additional 1,117 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Bloom Energy by 27.8% during the 1st quarter. Quantbot Technologies LP now owns 4,673 shares of the company’s stock valued at $112,000 after acquiring an additional 1,017 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Bloom Energy during the 1st quarter valued at $123,000. Institutional investors own 77.04% of the company’s stock.

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.