Bloom Energy (NYSE:BE) Shares Up 6.7% – Still a Buy?

Bloom Energy Co. (NYSE:BE)’s share price shot up 6.7% during mid-day trading on Monday . The stock traded as high as $10.64 and last traded at $10.61. 2,152,539 shares changed hands during trading, a decline of 63% from the average session volume of 5,789,756 shares. The stock had previously closed at $9.94.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BE shares. JPMorgan Chase & Co. boosted their price target on Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Jefferies Financial Group cut Bloom Energy from a “buy” rating to a “hold” rating and reduced their target price for the company from $15.00 to $11.00 in a report on Friday, September 6th. Truist Financial cut their target price on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. UBS Group cut their price target on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Susquehanna dropped their price objective on shares of Bloom Energy from $16.00 to $13.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Bloom Energy has an average rating of “Hold” and a consensus price target of $15.39.

Bloom Energy Stock Performance

The company has a market cap of $2.45 billion, a PE ratio of -8.13 and a beta of 2.71. The company has a current ratio of 4.65, a quick ratio of 3.33 and a debt-to-equity ratio of 3.43. The firm’s 50-day simple moving average is $10.46 and its two-hundred day simple moving average is $12.07.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The business had revenue of $335.80 million for the quarter, compared to the consensus estimate of $307.73 million. During the same period in the prior year, the firm earned ($0.32) EPS. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, research analysts anticipate that Bloom Energy Co. will post -0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bloom Energy

A number of hedge funds have recently modified their holdings of BE. Principal Financial Group Inc. grew its holdings in shares of Bloom Energy by 16.2% in the first quarter. Principal Financial Group Inc. now owns 25,916 shares of the company’s stock valued at $291,000 after purchasing an additional 3,622 shares during the period. BNP Paribas purchased a new position in Bloom Energy during the first quarter worth about $38,000. GSA Capital Partners LLP boosted its stake in Bloom Energy by 85.5% during the first quarter. GSA Capital Partners LLP now owns 60,168 shares of the company’s stock worth $676,000 after buying an additional 27,734 shares during the period. Sciencast Management LP purchased a new position in Bloom Energy during the first quarter worth about $133,000. Finally, Oppenheimer & Co. Inc. boosted its stake in Bloom Energy by 41.7% during the first quarter. Oppenheimer & Co. Inc. now owns 75,995 shares of the company’s stock worth $854,000 after buying an additional 22,369 shares during the period. Hedge funds and other institutional investors own 77.04% of the company’s stock.

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.