Bloom Energy Corp (NYSE:BE) shot up 5.5% during mid-day trading on Monday . The stock traded as high as $5.70 and last traded at $5.40, 2,504,866 shares changed hands during mid-day trading. An increase of 76% from the average session volume of 1,422,844 shares. The stock had previously closed at $5.12.
Several research firms have recently issued reports on BE. Raymond James lowered their price target on shares of Bloom Energy from $16.00 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. ValuEngine raised shares of Bloom Energy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Robert W. Baird lowered their price target on shares of Bloom Energy from $16.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Bank of America lowered shares of Bloom Energy from a “neutral” rating to an “underperform” rating in a research report on Tuesday, August 13th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $15.00 target price (down previously from $27.00) on shares of Bloom Energy in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.15.
The stock’s fifty day moving average is $9.96 and its two-hundred day moving average is $11.75. The company has a current ratio of 1.75, a quick ratio of 1.44 and a debt-to-equity ratio of 10.34. The firm has a market cap of $581.45 million and a P/E ratio of -2.18.
Bloom Energy (NYSE:BE) last posted its earnings results on Monday, August 12th. The company reported ($0.59) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.59). The business had revenue of $233.80 million for the quarter, compared to analyst estimates of $207.56 million. Bloom Energy had a negative net margin of 38.77% and a negative return on equity of 539.17%. The business’s revenue for the quarter was up 38.4% compared to the same quarter last year. On average, analysts forecast that Bloom Energy Corp will post -2.07 EPS for the current year.
In other Bloom Energy news, CFO Randy W. Furr sold 46,675 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $11.16, for a total value of $520,893.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Susan Seilheimer Brennan sold 11,471 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $10.72, for a total transaction of $122,969.12. The disclosure for this sale can be found here. Corporate insiders own 36.45% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in BE. Colony Group LLC bought a new position in Bloom Energy in the 2nd quarter worth $781,000. Point72 Europe London LLP raised its holdings in Bloom Energy by 40.7% in the 2nd quarter. Point72 Europe London LLP now owns 233,364 shares of the company’s stock worth $2,863,000 after purchasing an additional 67,500 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in Bloom Energy by 3,048.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 68,412 shares of the company’s stock worth $839,000 after purchasing an additional 66,239 shares in the last quarter. Nuveen Asset Management LLC bought a new position in Bloom Energy in the 2nd quarter worth $5,953,000. Finally, UBS Asset Management Americas Inc. bought a new position in Bloom Energy in the 2nd quarter worth $380,000. 37.81% of the stock is owned by institutional investors and hedge funds.
About Bloom Energy (NYSE:BE)
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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