Bloom Energy Corp (NYSE:BE) Expected to Announce Quarterly Sales of $230.79 Million

Brokerages expect Bloom Energy Corp (NYSE:BE) to post $230.79 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Bloom Energy’s earnings. The highest sales estimate is $239.05 million and the lowest is $221.12 million. Bloom Energy posted sales of $190.19 million in the same quarter last year, which suggests a positive year over year growth rate of 21.3%. The firm is scheduled to report its next earnings results on Monday, November 4th.

According to Zacks, analysts expect that Bloom Energy will report full year sales of $918.35 million for the current year, with estimates ranging from $849.02 million to $968.02 million. For the next year, analysts anticipate that the business will report sales of $904.70 million, with estimates ranging from $751.54 million to $964.78 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Bloom Energy.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.59) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.59). The company 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 firm’s revenue was up 38.4% compared to the same quarter last year.

BE has been the topic of several research analyst reports. Raymond James dropped their price objective on shares of Bloom Energy from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 1st. Morgan Stanley restated a “buy” rating on shares of Bloom Energy in a research note on Wednesday, September 18th. Robert W. Baird decreased 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 note on Tuesday, August 13th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $12.00 price target (down from $18.00) on shares of Bloom Energy in a research note on Thursday, September 19th. Finally, Zacks Investment Research downgraded shares of Bloom Energy from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Two analysts have rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Bloom Energy currently has an average rating of “Buy” and a consensus target price of $10.63.

In other Bloom Energy news, EVP Swaminathan Venkataraman sold 86,324 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $3.41, for a total transaction of $294,364.84. Also, COO Susan Seilheimer Brennan sold 55,486 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $3.41, for a total transaction of $189,207.26. Insiders sold 146,607 shares of company stock worth $499,930 over the last 90 days. 36.45% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of BE. BlackRock Inc. boosted its stake in shares of Bloom Energy by 721.2% in the 2nd quarter. BlackRock Inc. now owns 3,047,269 shares of the company’s stock valued at $37,390,000 after purchasing an additional 2,676,215 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Bloom Energy by 160.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,839,447 shares of the company’s stock valued at $47,110,000 after purchasing an additional 2,364,131 shares in the last quarter. FMR LLC acquired a new stake in shares of Bloom Energy in the 1st quarter valued at approximately $11,026,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Bloom Energy in the 1st quarter valued at approximately $10,129,000. Finally, Granite Investment Partners LLC boosted its stake in shares of Bloom Energy by 148.9% in the 2nd quarter. Granite Investment Partners LLC now owns 1,077,185 shares of the company’s stock valued at $13,217,000 after purchasing an additional 644,396 shares in the last quarter. Institutional investors own 39.65% of the company’s stock.

Shares of BE opened at $2.91 on Tuesday. The firm has a market capitalization of $358.91 million, a PE ratio of -1.20 and a beta of 3.23. The company’s 50-day moving average is $3.83 and its 200-day moving average is $9.45. Bloom Energy has a fifty-two week low of $2.86 and a fifty-two week high of $27.80. The company has a debt-to-equity ratio of 10.34, a current ratio of 1.75 and a quick ratio of 1.44.

About Bloom Energy

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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