Bloom Energy (NYSE:BE) Stock Price Up 9.2%

Bloom Energy Co. (NYSE:BE)’s share price was up 9.2% during mid-day trading on Tuesday . The company traded as high as $10.21 and last traded at $10.18. Approximately 1,208,700 shares were traded during trading, a decline of 78% from the average daily volume of 5,539,007 shares. The stock had previously closed at $9.32.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BE shares. BTIG Research started coverage on shares of Bloom Energy in a report on Thursday, January 25th. They set a “buy” rating and a $21.00 target price for the company. Evercore ISI started coverage on shares of Bloom Energy in a report on Monday, April 1st. They set an “outperform” rating and a $21.00 target price for the company. Robert W. Baird raised shares of Bloom Energy from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $16.00 to $22.00 in a report on Wednesday, January 10th. JPMorgan Chase & Co. cut shares of Bloom Energy from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $14.00 in a research report on Friday, February 16th. Finally, Bank of America cut shares of Bloom Energy from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $16.00 to $10.00 in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $16.69.

Bloom Energy Price Performance

The company has a debt-to-equity ratio of 2.41, a current ratio of 3.60 and a quick ratio of 2.53. The company has a market capitalization of $2.17 billion, a PE ratio of -6.65 and a beta of 2.79. The stock’s 50 day simple moving average is $10.12 and its 200-day simple moving average is $11.69.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. The company had revenue of $356.92 million for the quarter, compared to analyst estimates of $481.90 million. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. As a group, equities analysts forecast that Bloom Energy Co. will post -0.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $9.74, for a total transaction of $494,266.04. Following the sale, the chief executive officer now directly owns 2,702,608 shares in the company, valued at $26,323,401.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Shawn Marie Soderberg sold 8,963 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $9.86, for a total transaction of $88,375.18. Following the sale, the insider now directly owns 168,003 shares in the company, valued at $1,656,509.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kr Sridhar sold 50,746 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $9.74, for a total transaction of $494,266.04. Following the sale, the chief executive officer now owns 2,702,608 shares in the company, valued at $26,323,401.92. The disclosure for this sale can be found here. Insiders have sold 74,989 shares of company stock worth $725,292 over the last three months. Company insiders own 3.50% of the company’s stock.

Institutional Trading of Bloom Energy

A number of large investors have recently made changes to their positions in BE. Millburn Ridgefield Corp purchased a new position in Bloom Energy in the third quarter valued at approximately $33,000. Quest Partners LLC purchased a new position in Bloom Energy in the fourth quarter valued at approximately $51,000. Allspring Global Investments Holdings LLC increased its stake in Bloom Energy by 17.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock valued at $102,000 after purchasing an additional 1,117 shares during the last quarter. AM Investment Strategies LLC purchased a new position in Bloom Energy in the third quarter valued at approximately $133,000. Finally, Fairman Group LLC purchased a new position in Bloom Energy in the fourth quarter valued at approximately $146,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

About Bloom Energy

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.