Bloom Energy (NYSE:BE) Issues Earnings Results

Bloom Energy (NYSE:BE) announced its quarterly earnings data on Thursday. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.20, FiscalAI reports. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%.

Bloom Energy Price Performance

Bloom Energy stock traded down $11.25 during trading hours on Thursday, reaching $136.10. 12,068,639 shares of the stock were exchanged, compared to its average volume of 12,794,808. The stock has a 50 day moving average of $117.11 and a two-hundred day moving average of $91.27. The company has a market cap of $32.19 billion, a P/E ratio of 938.28, a price-to-earnings-growth ratio of 13.65 and a beta of 3.07. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. Bloom Energy has a twelve month low of $15.15 and a twelve month high of $176.49.

Insiders Place Their Bets

In other news, insider Maciej Kurzymski sold 3,264 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $86.48, for a total value of $282,270.72. Following the completion of the transaction, the insider owned 90,005 shares of the company’s stock, valued at approximately $7,783,632.40. This represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Aman Joshi sold 4,543 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $109.13, for a total transaction of $495,777.59. Following the completion of the transaction, the insider owned 219,818 shares of the company’s stock, valued at approximately $23,988,738.34. This trade represents a 2.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 14,639 shares of company stock worth $1,496,660 in the last ninety days. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Several institutional investors have recently modified their holdings of the business. CIBC Bancorp USA Inc. purchased a new position in Bloom Energy in the third quarter worth $1,936,000. Centaurus Financial Inc. purchased a new stake in Bloom Energy during the third quarter valued at about $129,000. Wilmington Savings Fund Society FSB lifted its stake in shares of Bloom Energy by 143.5% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 7,755 shares of the company’s stock valued at $656,000 after buying an additional 4,570 shares in the last quarter. Danske Bank A S purchased a new position in Bloom Energy in the 3rd quarter valued at approximately $135,000. Finally, Advisory Services Network LLC bought a new position in shares of Bloom Energy in the third quarter worth $139,000. 77.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on BE. Bank of America lifted their price objective on Bloom Energy from $26.00 to $39.00 and gave the company an “underperform” rating in a report on Tuesday, November 25th. China Renaissance started coverage on shares of Bloom Energy in a report on Wednesday, January 28th. They set a “buy” rating and a $207.00 target price for the company. Evercore ISI reaffirmed an “outperform” rating on shares of Bloom Energy in a research note on Thursday, January 8th. Barclays initiated coverage on shares of Bloom Energy in a report on Wednesday, January 28th. They set an “equal weight” rating and a $153.00 target price on the stock. Finally, Roth Mkm boosted their price objective on shares of Bloom Energy to $133.00 and gave the stock a “neutral” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Bloom Energy has an average rating of “Hold” and a consensus target price of $111.13.

About Bloom Energy

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.