Bloom Energy (NYSE:BE) Stock Rating Reaffirmed by Royal Bank of Canada

Bloom Energy (NYSE:BE)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a report issued on Thursday, Benzinga reports. They presently have a $15.00 price target on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 16.91% from the stock’s previous close.

BE has been the subject of several other research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $22.00 target price on shares of Bloom Energy in a report on Monday, March 25th. TD Cowen upped their target price on shares of Bloom Energy from $10.00 to $13.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Susquehanna dropped their target price on shares of Bloom Energy from $18.00 to $16.00 and set a “positive” rating for the company in a report on Wednesday, March 27th. BTIG Research upped their target price on shares of Bloom Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, Truist Financial raised shares of Bloom Energy from a “sell” rating to a “hold” rating and upped their target price for the stock from $9.00 to $11.00 in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bloom Energy presently has an average rating of “Hold” and a consensus price target of $15.69.

Bloom Energy Price Performance

Shares of BE opened at $12.83 on Thursday. The firm has a market cap of $2.91 billion, a PE ratio of -9.50 and a beta of 2.83. 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 firm has a fifty day simple moving average of $13.05 and a two-hundred day simple moving average of $12.22. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $18.76.

Bloom Energy (NYSE:BE) last announced its earnings results on Thursday, May 9th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. The company had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $254.06 million. On average, equities analysts anticipate that Bloom Energy will post -0.26 EPS for the current year.

Insider Activity

In other news, insider Shawn Marie Soderberg sold 8,963 shares of the company’s stock in a transaction dated 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 approximately $1,656,509.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Shawn Marie Soderberg sold 8,963 shares of the company’s stock in a transaction dated 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 approximately $1,656,509.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eddy Zervigon sold 28,150 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $12.86, for a total transaction of $362,009.00. Following the completion of the sale, the director now directly owns 111,161 shares in the company, valued at $1,429,530.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,385 shares of company stock worth $943,038. 8.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Bloom Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BE. Millburn Ridgefield Corp boosted its stake in shares of Bloom Energy by 64.0% during the first quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock valued at $37,000 after purchasing an additional 1,286 shares in the last quarter. BNP Paribas acquired a new stake in Bloom Energy during the first quarter valued at $38,000. Quest Partners LLC acquired a new stake in shares of Bloom Energy in the fourth quarter valued at about $51,000. Fairman Group LLC acquired a new stake in shares of Bloom Energy in the fourth quarter valued at about $146,000. Finally, Tsfg LLC boosted its position in Bloom Energy by 11.1% during the fourth quarter. Tsfg LLC now owns 10,006 shares of the company’s stock worth $148,000 after acquiring an additional 1,000 shares during the last quarter. 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.