Barclays Begins Coverage on Bloom Energy (NYSE:BE)

Analysts at Barclays started coverage on shares of Bloom Energy (NYSE:BE) in a research report issued on Wednesday, MarketBeat reports. The brokerage set an “equal weight” rating and a $153.00 price target on the stock. Barclays‘s price target points to a potential downside of 7.67% from the company’s current price.

Several other research firms have also weighed in on BE. Evercore ISI restated an “outperform” rating on shares of Bloom Energy in a report on Thursday, January 8th. Truist Financial set a $68.00 target price on shares of Bloom Energy in a research note on Friday, January 9th. Robert W. Baird set a $172.00 target price on shares of Bloom Energy in a report on Tuesday. Roth Mkm reiterated a “neutral” rating and set a $103.00 price target on shares of Bloom Energy in a report on Wednesday, October 29th. Finally, Susquehanna raised their price objective on shares of Bloom Energy to $157.00 and gave the stock a “positive” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $109.83.

Bloom Energy Trading Up 8.8%

BE opened at $165.72 on Wednesday. The stock has a 50-day moving average of $111.02 and a 200 day moving average of $86.70. 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 12 month low of $15.15 and a 12 month high of $167.57. The firm has a market cap of $39.19 billion, a P/E ratio of 846.17, a P/E/G ratio of 12.83 and a beta of 3.01.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The business had revenue of $519.05 million for the quarter, compared to the consensus estimate of $425.18 million. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The company’s quarterly revenue was up 57.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.01) earnings per share. As a group, research analysts forecast that Bloom Energy will post -0.23 EPS for the current year.

Insider Buying and Selling

In other news, Director Jim H. Snabe sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $143.04, for a total transaction of $2,860,800.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 36,666 shares of Bloom Energy stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $141.00, for a total transaction of $5,169,906.00. Following the sale, the insider directly owned 225,949 shares of the company’s stock, valued at $31,858,809. This represents a 13.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 120,410 shares of company stock worth $16,557,185 over the last ninety days. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Bayforest Capital Ltd purchased a new stake in shares of Bloom Energy in the 1st quarter worth $2,055,000. AQR Capital Management LLC bought a new stake in shares of Bloom Energy in the first quarter valued at about $1,820,000. NewEdge Advisors LLC lifted its stake in Bloom Energy by 674.7% in the first quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock worth $37,000 after acquiring an additional 1,626 shares during the period. Goldman Sachs Group Inc. grew its holdings in Bloom Energy by 50.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock worth $49,127,000 after acquiring an additional 836,810 shares in the last quarter. Finally, Focus Partners Wealth increased its position in Bloom Energy by 30.7% during the 1st quarter. Focus Partners Wealth now owns 20,063 shares of the company’s stock valued at $394,000 after purchasing an additional 4,716 shares during the period. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Bloom Energy Company Profile

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.