Bloom Energy Co. (NYSE:BE – Get Rating) shares rose 5.3% during trading on Friday . The stock traded as high as $19.37 and last traded at $19.34. Approximately 18,530 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 2,231,530 shares. The stock had previously closed at $18.37.
BE has been the subject of several recent analyst reports. Susquehanna decreased their target price on shares of Bloom Energy from $33.00 to $28.00 in a report on Tuesday, May 10th. Piper Sandler initiated coverage on shares of Bloom Energy in a report on Wednesday, June 8th. They issued a “hold” rating and a $20.00 target price for the company. Trust Financial raised their target price on shares of Bloom Energy to $19.00 in a report on Friday, May 27th. Susquehanna Bancshares decreased their target price on shares of Bloom Energy from $33.00 to $28.00 in a report on Tuesday, May 10th. Finally, Morgan Stanley decreased their target price on shares of Bloom Energy from $25.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, June 13th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $25.75.
The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of -15.24 and a beta of 3.24. The stock’s 50 day simple moving average is $16.72 and its 200-day simple moving average is $19.04.
Bloom Energy (NYSE:BE – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.27). The business had revenue of $201.04 million during the quarter, compared to analyst estimates of $220.75 million. Bloom Energy had a negative net margin of 22.25% and a negative return on equity of 738.94%. Bloom Energy’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.17) earnings per share. Research analysts predict that Bloom Energy Co. will post -0.94 EPS for the current year.
In other news, EVP Shawn Marie Soderberg sold 3,095 shares of Bloom Energy stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $17.14, for a total value of $53,048.30. Following the transaction, the executive vice president now owns 354,623 shares of the company’s stock, valued at $6,078,238.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Kr Sridhar sold 10,937 shares of Bloom Energy stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $16.63, for a total transaction of $181,882.31. Following the completion of the transaction, the chief executive officer now directly owns 501,938 shares in the company, valued at approximately $8,347,228.94. The disclosure for this sale can be found here. Insiders sold 24,593 shares of company stock valued at $449,148 over the last quarter. Corporate insiders own 2.78% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Allworth Financial LP bought a new position in Bloom Energy during the first quarter worth $32,000. Millburn Ridgefield Corp increased its position in Bloom Energy by 209.3% during the first quarter. Millburn Ridgefield Corp now owns 2,032 shares of the company’s stock worth $49,000 after acquiring an additional 1,375 shares during the period. Catalyst Capital Advisors LLC increased its position in Bloom Energy by 209.3% during the first quarter. Catalyst Capital Advisors LLC now owns 2,032 shares of the company’s stock worth $49,000 after acquiring an additional 1,375 shares during the period. FNY Investment Advisers LLC bought a new position in Bloom Energy during the first quarter worth $68,000. Finally, Paragon Capital Management Ltd bought a new position in Bloom Energy during the fourth quarter worth $77,000. 65.68% of the stock is currently owned by institutional investors.
About Bloom Energy (NYSE:BE)
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 power generation platform that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion.
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