Bloom Energy (NYSE:BE) Price Target Raised to $14.00 at Wells Fargo & Company

Bloom Energy (NYSE:BE) had its target price hoisted by Wells Fargo & Company from $12.00 to $14.00 in a research report released on Monday, Benzinga reports. They currently have an equal weight rating on the stock.

BE has been the subject of several other reports. Redburn Atlantic assumed coverage on shares of Bloom Energy in a research report on Tuesday, February 6th. They set a neutral rating and a $12.50 price target for the company. JPMorgan Chase & Co. lowered shares of Bloom Energy from an overweight rating to a neutral rating and decreased their price target for the company from $19.00 to $14.00 in a research report on Friday, February 16th. Susquehanna decreased their price target on shares of Bloom Energy from $18.00 to $16.00 and set a positive rating for the company in a research report on Wednesday, March 27th. KeyCorp lowered shares of Bloom Energy from an overweight rating to a sector weight rating in a research report on Friday, February 16th. Finally, TD Cowen increased their price target on shares of Bloom Energy from $10.00 to $13.00 and gave the company a hold rating in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average price target of $15.64.

Bloom Energy Stock Performance

BE stock opened at $15.71 on Monday. The company has a debt-to-equity ratio of 2.56, a current ratio of 4.45 and a quick ratio of 2.97. The business has a 50-day moving average price of $11.14 and a 200 day moving average price of $11.82. The company has a market capitalization of $3.53 billion, a P/E ratio of -11.64 and a beta of 2.77. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $18.76.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The firm had revenue of $235.30 million during the quarter, compared to the consensus estimate of $254.06 million. Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. As a group, equities research analysts forecast that Bloom Energy will post -0.26 EPS for the current fiscal year.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 8,963 shares of the firm’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 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Eddy Zervigon sold 28,150 shares of Bloom Energy stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $12.86, for a total value of $362,009.00. Following the sale, the director now owns 111,161 shares of the company’s stock, valued at approximately $1,429,530.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 8,963 shares of Bloom Energy stock in a transaction 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 directly owns 168,003 shares in the company, valued at approximately $1,656,509.58. The disclosure for this sale can be found here. Insiders have sold 131,291 shares of company stock valued at $1,457,413 in the last 90 days. 8.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bloom Energy

Institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank lifted its holdings in Bloom Energy by 222.8% in the 1st quarter. Comerica Bank now owns 23,884 shares of the company’s stock valued at $268,000 after purchasing an additional 16,484 shares in the last quarter. Tidal Investments LLC purchased a new position in Bloom Energy in the 1st quarter valued at $370,000. Price T Rowe Associates Inc. MD lifted its holdings in Bloom Energy by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 116,882 shares of the company’s stock valued at $1,314,000 after purchasing an additional 6,902 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Bloom Energy by 16.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 555,256 shares of the company’s stock valued at $6,241,000 after purchasing an additional 78,008 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Bloom Energy by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after purchasing an additional 156,434 shares in the last quarter. Institutional investors and hedge funds 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.