Bloom Energy (NYSE:BE) Shares Up 6.7%

Bloom Energy Co. (NYSE:BE)’s share price shot up 6.7% on Tuesday . The stock traded as high as $10.45 and last traded at $10.44. 1,587,778 shares traded hands during trading, a decline of 73% from the average session volume of 5,925,746 shares. The stock had previously closed at $9.78.

Analyst Ratings Changes

A number of equities analysts recently commented on BE shares. Truist Financial lifted their price target on Bloom Energy from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Piper Sandler lifted their price objective on shares of Bloom Energy from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $15.00 target price on shares of Bloom Energy in a research note on Thursday, June 20th. JPMorgan Chase & Co. boosted their target price on shares of Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Finally, Jefferies Financial Group downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $15.00 to $11.00 in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $15.88.

Bloom Energy Trading Up 3.2 %

The company has a debt-to-equity ratio of 3.43, a current ratio of 4.65 and a quick ratio of 3.33. The firm’s 50 day moving average is $12.16 and its 200 day moving average is $12.12. The company has a market capitalization of $2.29 billion, a PE ratio of -7.61 and a beta of 2.69.

Bloom Energy (NYSE:BE) last announced its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). The business had revenue of $335.80 million during the quarter, compared to the consensus estimate of $307.73 million. Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.32) earnings per share. As a group, equities analysts predict that Bloom Energy Co. will post -0.25 EPS for the current year.

Insider Activity at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 2,094 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $14.53, for a total value of $30,425.82. Following the sale, the insider now directly owns 168,867 shares in the company, valued at approximately $2,453,637.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.81% of the stock is owned by corporate insiders.

Institutional Trading of Bloom Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. acquired a new stake in Bloom Energy during the second quarter valued at $215,000. Creative Planning lifted its stake in shares of Bloom Energy by 31.5% in the second quarter. Creative Planning now owns 34,394 shares of the company’s stock worth $421,000 after buying an additional 8,244 shares in the last quarter. Algert Global LLC purchased a new position in shares of Bloom Energy in the second quarter worth about $251,000. Sender Co & Partners Inc. acquired a new stake in Bloom Energy during the second quarter worth about $156,000. Finally, The Manufacturers Life Insurance Company increased its position in Bloom Energy by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 114,705 shares of the company’s stock worth $1,404,000 after purchasing an additional 7,205 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

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.