Shares of Bloom Energy Co. (NYSE:BE – Get Free Report) were down 4.1% on Friday . The company traded as low as $13.90 and last traded at $14.05. Approximately 161,722 shares traded hands during trading, a decline of 97% from the average daily volume of 6,273,372 shares. The stock had previously closed at $14.65.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on BE shares. Bank of America boosted their target price on shares of Bloom Energy from $8.00 to $9.00 and gave the stock an “underperform” rating in a research report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $15.00 target price on shares of Bloom Energy in a research report on Thursday, June 20th. Evercore ISI reduced their target price on shares of Bloom Energy from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Susquehanna reduced their target price on shares of Bloom Energy from $18.00 to $16.00 and set a “positive” rating on the stock in a research report on Wednesday, March 27th. Finally, BTIG Research boosted their target price on shares of Bloom Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $15.64.
Check Out Our Latest Report on Bloom Energy
Bloom Energy Price Performance
The company has a debt-to-equity ratio of 2.56, a quick ratio of 2.97 and a current ratio of 4.45. The firm has a market capitalization of $3.22 billion, a P/E ratio of -10.50 and a beta of 2.80. The business has a fifty day moving average of $14.00 and a 200-day moving average of $12.04.
Bloom Energy (NYSE:BE – Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Bloom Energy had a negative return on equity of 19.32% and a negative net margin of 22.27%. The business had revenue of $235.30 million for the quarter, compared to analyst estimates of $254.06 million. On average, sell-side analysts forecast that Bloom Energy Co. will post -0.26 EPS for the current fiscal year.
Insider Activity
In other news, insider Shawn Marie Soderberg sold 2,094 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total value of $30,425.82. Following the completion of the sale, the insider now owns 168,867 shares in the company, valued at $2,453,637.51. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Shawn Marie Soderberg sold 2,094 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total value of $30,425.82. Following the completion of the sale, the insider now owns 168,867 shares in the company, valued at $2,453,637.51. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eddy Zervigon sold 28,150 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $12.86, for a total value of $362,009.00. Following the sale, the director now directly owns 111,161 shares in the company, valued at $1,429,530.46. The disclosure for this sale can be found here. Insiders sold a total of 71,516 shares of company stock worth $885,088 over the last 90 days. 8.81% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Millburn Ridgefield Corp raised its position in Bloom Energy by 64.0% during the first quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock valued at $37,000 after buying an additional 1,286 shares during the period. BNP Paribas purchased a new position in Bloom Energy in the first quarter valued at about $38,000. Quest Partners LLC purchased a new position in Bloom Energy in the fourth quarter valued at about $51,000. ORG Partners LLC purchased a new position in Bloom Energy in the second quarter valued at about $40,000. Finally, Mather Group LLC. purchased a new position in Bloom Energy in the second quarter valued at about $66,000. 77.04% of the stock is owned by institutional investors and hedge funds.
Bloom Energy Company Profile
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.
Further Reading
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