Stocks of Bloom Energy Corporation (NYSE:BE) traded higher last session on Wall Street, down -4.16% to $15.88.
According to the data, Bloom Energy Corporation (NYSE:BE) has 20 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $35.00 and a low of $17.00, we find $25.00. Given the previous closing price of $16.57, this indicates a potential upside of 50.88 percent. BE stock price is now -2.91% away from the 50-day moving average and -16.65% away from the 200-day moving average. The market capitalization of the company currently stands at $3.46B.
A total of 9 analysts have issued a hold rating and 10 have given it a buy rating. Brokers who have rated the stock have averaged $25.89 as their price target over the next twelve months.
With the price target of $24, RBC Capital Mkts recently initiated with Outperform rating for Bloom Energy Corporation (NYSE: BE).
In other news, Moore Sharelynn Faye, insider sold 1,080 shares of the company’s stock on Jul 18. The stock was sold for $19,948 at an average price of $18.47. Upon completion of the transaction, the insider now directly owns 165,275 shares in the company, valued at $2.62 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 17, EVP, Sales – Americas Brooks Guillermo sold 3,978 shares of the business’s stock. A total of $72,718 was realized by selling the stock at an average price of $18.28. This leaves the insider owning 136,708 shares of the company worth $2.17 million. Insiders disposed of 657,453 shares of company stock worth roughly $10.44 million over the past 1 year. A total of 6.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BE stock. A new stake in Bloom Energy Corporation shares was purchased by ENCOMPASS CAPITAL ADVISORS LLC during the first quarter worth $26,725,000. PUBLIC INVESTMENT FUND invested $16,955,000 in shares of BE during the first quarter. In the first quarter, ALYESKA INVESTMENT GROUP, L.P. acquired a new stake in Bloom Energy Corporation valued at approximately $12,557,000. BNP PARIBAS ASSET MANAGEMENT HOLDING S.A. acquired a new stake in BE for approximately $10,559,000. UBS ASSET MANAGEMENT AMERICAS INC purchased a new stake in BE valued at around $7,527,000 in the second quarter. In total, there are 483 active investors with 81.80% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $16.10 for Bloom Energy Corporation (NYSE: BE). During the past 12 months, Bloom Energy Corporation has had a low of $12.33 and a high of $31.47. As of last week, the company has a debt-to-equity ratio of 4.60, a current ratio of 2.10, and a quick ratio of 1.60. The fifty day moving average price for BE is $16.38 and a two-hundred day moving average price translates $19.05 for the stock.
The latest earnings results from Bloom Energy Corporation (NYSE: BE) was released for Jun, 2023. According to the Electrical Equipment & Parts Company, earnings per share came in at -$0.17, missing analysts’ expectations of -$0.15 by -0.02. This compares to -$0.68 EPS in the same period last year. The net profit margin was -19.00% and return on equity was -79.30% for BE. The company reported revenue of $301.1 million for the quarter, compared to $243.24 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 23.79 percent. For the current quarter, analysts expect BE to generate $382.12M in revenue.
Bloom Energy Corporation(BE) 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. It serves to data centers, retailers, hospitals, farming, semiconductors, and other manufacturing sectors. The company was formerly known as Ion America Corp. and changed its name to Bloom Energy Corporation in 2006. Bloom Energy Corporation was incorporated in 2001 and is headquartered in San Jose, California.
