In yesterday’s Wall Street session, Bloom Energy Corp (NYSE:BE) shares traded at $9.78, down -9.94% from the previous session.
As of this writing, 22 analysts cover Bloom Energy Corp (NYSE:BE). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $33.00 and a low of $14.00, we find $20.00. Given the previous closing price of $10.86, this indicates a potential upside of 84.16 percent. BE stock price is now -26.99% away from the 50-day moving average and -43.25% away from the 200-day moving average. The market capitalization of the company currently stands at $2.19B.
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There are 9 analysts who have given it a hold rating, whereas 12 have given it a buy rating. Brokers who have rated the stock have averaged $22.90 as their price target over the next twelve months.
With the price target of $22, HSBC Securities recently initiated with Buy rating for Bloom Energy Corp (NYSE: BE).
In other news, Brooks Guillermo, EVP, Sales – Americas sold 3,792 shares of the company’s stock on Oct 16. The stock was sold for $47,286 at an average price of $12.47. Upon completion of the transaction, the EVP, Sales – Americas now directly owns 143,401 shares in the company, valued at $1.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 16, EVP, GC & Secretary SODERBERG SHAWN MARIE sold 1,996 shares of the business’s stock. A total of $23,413 was realized by selling the stock at an average price of $11.73. This leaves the insider owning 80,651 shares of the company worth $0.79 million. Insiders disposed of 618,879 shares of company stock worth roughly $6.05 million over the past 1 year. A total of 13.29% 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 Corp shares was purchased by COATUE MANAGEMENT LLC during the first quarter worth $40,071,000. NOMURA HOLDINGS INC invested $7,695,000 in shares of BE during the first quarter. In the first quarter, III CAPITAL MANAGEMENT acquired a new stake in Bloom Energy Corp valued at approximately $5,037,000. MIZUHO MARKETS AMERICAS LLC acquired a new stake in BE for approximately $3,482,000. CRESSET ASSET MANAGEMENT, LLC purchased a new stake in BE valued at around $2,522,000 in the second quarter. In total, there are 483 active investors with 71.48% ownership of the company’s stock.
Friday morning saw Bloom Energy Corp (NYSE: BE) opened at $10.82. During the past 12 months, Bloom Energy Corp has had a low of $10.45 and a high of $26.55. As of last week, the company has a debt-to-equity ratio of 6.10, a current ratio of 2.07, and a quick ratio of 1.50. The fifty day moving average price for BE is $13.30 and a two-hundred day moving average price translates $17.17 for the stock.
The latest earnings results from Bloom Energy Corp (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 -18.17% and return on equity was -142.55% 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 $369.6M in revenue.
Bloom Energy Corp(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.
