Bloom Energy (NYSE:BE) Stock Price Up 9.2%

Bloom Energy Co. (NYSE:BE)’s share price rose 9.2% during trading on Tuesday . The company traded as high as $10.21 and last traded at $10.18. Approximately 1,208,700 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 5,539,007 shares. The stock had previously closed at $9.32.

Analysts Set New Price Targets

BE has been the topic of several analyst reports. Susquehanna dropped their target price on Bloom Energy from $18.00 to $16.00 and set a “positive” rating on the stock in a report on Wednesday, March 27th. Morgan Stanley reissued an “overweight” rating and issued a $22.00 target price on shares of Bloom Energy in a research note on Monday, March 25th. KeyCorp lowered shares of Bloom Energy from an “overweight” rating to a “sector weight” rating in a research report on Friday, February 16th. Truist Financial raised shares of Bloom Energy from a “sell” rating to a “hold” rating and lifted their price objective for the company from $9.00 to $11.00 in a research report on Wednesday, March 6th. Finally, Piper Sandler dropped their target price on shares of Bloom Energy from $14.00 to $11.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.69.

Bloom Energy Stock Up 4.1 %

The company has a quick ratio of 2.53, a current ratio of 3.60 and a debt-to-equity ratio of 2.41. The stock has a fifty day moving average price of $10.19 and a two-hundred day moving average price of $11.72. The company has a market cap of $2.18 billion, a price-to-earnings ratio of -7.02 and a beta of 2.79.

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

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 8,963 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $9.86, for a total transaction of $88,375.18. Following the completion of the sale, the insider now owns 168,003 shares of the company’s stock, valued at approximately $1,656,509.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of Bloom Energy stock in a transaction dated 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 owns 2,702,608 shares in the company, valued at $26,323,401.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shawn Marie Soderberg sold 8,963 shares of Bloom Energy stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $9.86, for a total value of $88,375.18. Following the completion of the transaction, the insider now owns 168,003 shares in the company, valued at approximately $1,656,509.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,989 shares of company stock valued at $725,292. 3.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Bloom Energy by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 19,528,801 shares of the company’s stock valued at $289,026,000 after purchasing an additional 307,627 shares in the last quarter. Norges Bank acquired a new position in shares of Bloom Energy in the fourth quarter worth approximately $82,678,000. Coatue Management LLC lifted its stake in shares of Bloom Energy by 28.3% in the fourth quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock worth $65,666,000 after acquiring an additional 978,053 shares during the period. FMR LLC lifted its stake in shares of Bloom Energy by 168.8% in the third quarter. FMR LLC now owns 3,524,361 shares of the company’s stock worth $46,733,000 after acquiring an additional 2,213,167 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Bloom Energy by 3.8% in the third quarter. Northern Trust Corp now owns 1,920,938 shares of the company’s stock worth $25,472,000 after acquiring an additional 70,248 shares during the period. Institutional investors own 77.04% of the company’s stock.

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.