Bloom Energy Corp (NYSE:BE) Expected to Post Quarterly Sales of $168.93 Million

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Equities research analysts expect Bloom Energy Corp (NYSE:BE) to post $168.93 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Bloom Energy’s earnings. The highest sales estimate is $186.58 million and the lowest is $154.00 million. Bloom Energy posted sales of $233.78 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 27.7%. The company is expected to report its next quarterly earnings results after the market closes on Tuesday, July 28th.

According to Zacks, analysts expect that Bloom Energy will report full-year sales of $817.20 million for the current financial year, with estimates ranging from $726.80 million to $964.80 million. For the next financial year, analysts anticipate that the company will post sales of $1.05 billion, with estimates ranging from $955.20 million to $1.19 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Bloom Energy.

Bloom Energy (NYSE:BE) last issued its earnings results on Monday, May 11th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.65) by $0.31. The company had revenue of $156.70 million during the quarter, compared to analysts’ expectations of $152.45 million. During the same period last year, the business posted ($0.22) earnings per share. The company’s quarterly revenue was down 22.0% on a year-over-year basis.

BE has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Bloom Energy from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine cut shares of Bloom Energy from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. increased their target price on shares of Bloom Energy from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Morgan Stanley increased their target price on shares of Bloom Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, June 17th. Finally, Robert W. Baird reissued a “hold” rating and set a $8.00 price objective on shares of Bloom Energy in a research note on Thursday, July 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $10.64.

Shares of Bloom Energy stock opened at $13.09 on Wednesday. Bloom Energy has a 12-month low of $2.44 and a 12-month high of $14.51. The stock has a market cap of $1.52 billion, a PE ratio of -6.45 and a beta of 3.23. The company has a 50-day moving average of $9.41 and a two-hundred day moving average of $8.33.

In related news, COO Susan Seilheimer Brennan sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $8.25, for a total transaction of $82,500.00. Following the sale, the chief operating officer now owns 120,854 shares in the company, valued at $997,045.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christopher White sold 22,755 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $9.25, for a total transaction of $210,483.75. Following the sale, the executive vice president now owns 307,245 shares in the company, valued at approximately $2,842,016.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,755 shares of company stock valued at $329,084. Corporate insiders own 26.82% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in BE. FMR LLC acquired a new stake in Bloom Energy during the first quarter worth approximately $11,026,000. First Trust Advisors LP acquired a new stake in Bloom Energy during the first quarter worth approximately $262,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Bloom Energy during the first quarter worth approximately $10,129,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bloom Energy by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 125,888 shares of the company’s stock valued at $941,000 after purchasing an additional 5,032 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Bloom Energy by 27.5% in the 4th quarter. Bank of Montreal Can now owns 10,050 shares of the company’s stock valued at $75,000 after purchasing an additional 2,167 shares during the last quarter. Hedge funds and other institutional investors own 40.26% of the company’s stock.

About Bloom Energy

Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. The company offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion.

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