Bloom Energy (NYSE:BE) Stock Price Up 5.1%

Bloom Energy Co. (NYSE:BE)’s stock price rose 5.1% during mid-day trading on Thursday . The company traded as high as $12.35 and last traded at $12.31. Approximately 536,531 shares traded hands during trading, a decline of 90% from the average daily volume of 5,487,750 shares. The stock had previously closed at $11.71.

Analysts Set New Price Targets

BE has been the subject of a number of analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $22.00 price target on shares of Bloom Energy in a research report on Monday, March 25th. Bank of America downgraded shares of Bloom Energy from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $16.00 to $10.00 in a research report on Monday, January 29th. JPMorgan Chase & Co. downgraded shares of Bloom Energy from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $19.00 to $14.00 in a research report on Friday, February 16th. Susquehanna dropped 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. Finally, Raymond James dropped their price target on shares of Bloom Energy from $20.00 to $16.00 and set an “outperform” rating for the company in a research 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 issued a buy rating to the stock. According to data from MarketBeat, Bloom Energy has a consensus rating of “Moderate Buy” and an average price target of $16.69.

Bloom Energy Trading Down 0.9 %

The business’s 50 day simple moving average is $10.42 and its two-hundred day simple moving average is $11.93. The stock has a market cap of $2.63 billion, a P/E ratio of -8.06 and a beta of 2.79. 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 (NYSE:BE) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $356.92 million for the quarter, compared to analysts’ expectations of $481.90 million. As a group, analysts expect that Bloom Energy Co. will post -0.17 EPS for the current year.

Insider Buying and Selling

In related news, EVP Shawn Marie Soderberg sold 13,120 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 73,946 shares of the company’s stock, valued at $690,655.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $9.74, for a total transaction of $494,266.04. Following the sale, the chief executive officer now owns 2,702,608 shares of the company’s stock, valued at $26,323,401.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Shawn Marie Soderberg sold 13,120 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $9.34, for a total transaction of $122,540.80. Following the transaction, the executive vice president now directly owns 73,946 shares in the company, valued at approximately $690,655.64. The disclosure for this sale can be found here. Insiders have sold a total of 67,782 shares of company stock valued at $658,463 over the last 90 days. 8.81% of the stock is owned by insiders.

Institutional Trading of Bloom Energy

Several large investors have recently made changes to their positions in BE. Norges Bank bought a new position in Bloom Energy in the 4th quarter valued at about $82,678,000. FMR LLC lifted its position in Bloom Energy by 168.8% in the 3rd quarter. FMR LLC now owns 3,524,361 shares of the company’s stock valued at $46,733,000 after acquiring an additional 2,213,167 shares in the last quarter. Electron Capital Partners LLC bought a new position in Bloom Energy in the 4th quarter valued at about $27,796,000. Vanguard Group Inc. lifted its position in Bloom Energy by 12.8% in the 3rd quarter. Vanguard Group Inc. now owns 16,259,631 shares of the company’s stock valued at $325,030,000 after acquiring an additional 1,842,320 shares in the last quarter. Finally, Coatue Management LLC lifted its position in Bloom Energy by 28.3% in the 4th quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock valued at $65,666,000 after acquiring an additional 978,053 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.