Bloom Energy’s (BE) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Bloom Energy (NYSE:BE) in a report released on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has a $14.00 price objective on the stock.

Several other equities research analysts have also issued reports on BE. Piper Sandler lowered their target price on shares of Bloom Energy from $14.00 to $11.00 and set a neutral rating for the company in a report on Friday, February 16th. Morgan Stanley reissued an overweight rating and set a $22.00 price target on shares of Bloom Energy in a research report on Monday, March 25th. Raymond James cut their target price on shares of Bloom Energy from $20.00 to $16.00 and set an outperform rating on the stock in a research report on Friday, February 16th. KeyCorp lowered shares of Bloom Energy from an overweight rating to a sector weight rating in a report on Friday, February 16th. Finally, Wells Fargo & Company upped their target price on Bloom Energy from $12.00 to $14.00 and gave the stock an equal weight rating in a report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Bloom Energy currently has an average rating of Hold and an average target price of $15.64.

Bloom Energy Stock Up 3.6 %

Shares of NYSE:BE opened at $16.30 on Tuesday. The company has a market cap of $3.70 billion, a price-to-earnings ratio of -12.07 and a beta of 2.77. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $18.76. The company has a current ratio of 4.45, a quick ratio of 2.97 and a debt-to-equity ratio of 2.56. The company has a 50-day moving average price of $11.27 and a 200 day moving average price of $11.85.

Bloom Energy (NYSE:BE) last announced its earnings results on Thursday, May 9th. The company reported ($0.25) 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 company had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $254.06 million. As a group, equities research analysts predict that Bloom Energy will post -0.26 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Eddy Zervigon sold 28,150 shares of the company’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 transaction, the director now directly owns 111,161 shares of the company’s stock, valued at approximately $1,429,530.46. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Eddy Zervigon sold 28,150 shares of the company’s stock in a transaction that occurred 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 owns 111,161 shares in the company, valued at $1,429,530.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kr Sridhar sold 40,112 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $11.93, for a total transaction of $478,536.16. Following the transaction, the chief executive officer now directly owns 2,742,496 shares of the company’s stock, valued at $32,717,977.28. The disclosure for this sale can be found here. Insiders sold 131,291 shares of company stock worth $1,457,413 in the last three months. Corporate insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Hedge funds have recently added to or reduced their stakes in the business. Cetera Advisors LLC lifted its holdings in shares of Bloom Energy by 201.2% in the 1st quarter. Cetera Advisors LLC now owns 37,019 shares of the company’s stock valued at $416,000 after buying an additional 24,730 shares during the period. Comerica Bank boosted its position in Bloom Energy by 222.8% in the 1st quarter. Comerica Bank now owns 23,884 shares of the company’s stock worth $268,000 after purchasing an additional 16,484 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Bloom Energy during the 1st quarter worth approximately $370,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Bloom Energy by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 116,882 shares of the company’s stock valued at $1,314,000 after purchasing an additional 6,902 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Bloom Energy by 16.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 555,256 shares of the company’s stock valued at $6,241,000 after purchasing an additional 78,008 shares during the period. 77.04% of the stock is owned by hedge funds and other institutional investors.

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.