Bloom Energy’s (BE) “Overweight” Rating Reiterated at Morgan Stanley

Morgan Stanley reiterated their overweight rating on shares of Bloom Energy (NYSE:BE) in a report issued on Monday morning, Benzinga reports. They currently have a $22.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the stock. Susquehanna lowered their target price on shares of Bloom Energy from $21.00 to $18.00 and set a positive rating on the stock in a report on Friday, February 16th. Bank of America cut shares of Bloom Energy from a neutral rating to an underperform rating and decreased their price target for the stock from $16.00 to $10.00 in a report on Monday, January 29th. Robert W. Baird raised shares of Bloom Energy from a neutral rating to an outperform rating and upped their price target 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 decreased their price target for the stock from $19.00 to $14.00 in a report on Friday, February 16th. Finally, BTIG Research initiated coverage on shares of Bloom Energy in a report on Thursday, January 25th. They issued a buy rating and a $21.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $16.44.

Bloom Energy Price Performance

Shares of NYSE BE opened at $11.24 on Monday. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $20.62. The stock’s 50 day moving average price is $10.46 and its 200-day moving average price is $12.07. The company has a market capitalization of $2.53 billion, a PE ratio of -7.75 and a beta of 2.76. The company has a quick ratio of 2.53, a current ratio of 3.60 and a debt-to-equity ratio of 2.41.

Bloom Energy (NYSE:BE) last announced its earnings results on Thursday, February 15th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. The firm had revenue of $356.92 million for the quarter, compared to the consensus estimate of $481.90 million. Bloom Energy had a negative return on equity of 23.88% and a negative net margin of 22.66%. On average, equities analysts anticipate that Bloom Energy will post -0.17 EPS for the current year.

Insider Transactions at Bloom Energy

In other news, EVP Shawn Marie Soderberg sold 13,120 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $9.34, for a total transaction of $122,540.80. Following the sale, the executive vice president now directly owns 73,946 shares in the company, valued at approximately $690,655.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Bloom Energy news, EVP Shawn Marie Soderberg sold 13,120 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $9.34, for a total value of $122,540.80. Following the sale, the executive vice president now owns 73,946 shares in the company, valued at approximately $690,655.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kr Sridhar sold 50,746 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 2,702,608 shares in the company, valued at approximately $26,323,401.92. The disclosure for this sale can be found here. Insiders have sold 67,782 shares of company stock worth $658,463 in the last 90 days. 8.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bloom Energy

Hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of Bloom Energy by 13.0% in the 1st quarter. Bank of New York Mellon Corp now owns 566,033 shares of the company’s stock worth $13,669,000 after purchasing an additional 64,919 shares during the period. AlphaCrest Capital Management LLC purchased a new stake in shares of Bloom Energy in the 1st quarter worth approximately $337,000. Bank of Montreal Can lifted its position in Bloom Energy by 8.1% during the first quarter. Bank of Montreal Can now owns 63,498 shares of the company’s stock valued at $1,559,000 after acquiring an additional 4,781 shares during the last quarter. MetLife Investment Management LLC lifted its position in Bloom Energy by 53.5% during the first quarter. MetLife Investment Management LLC now owns 76,115 shares of the company’s stock valued at $1,838,000 after acquiring an additional 26,537 shares during the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in Bloom Energy during the first quarter valued at approximately $1,016,000. 77.04% of the stock is currently owned by 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.