Bloom Energy (NYSE:BE) Issues Earnings Results, Hits Expectations

Bloom Energy (NYSE:BE) issued its quarterly earnings data on Monday. The company reported ($0.59) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.59), Morningstar.com reports. The company had revenue of $233.80 million during the quarter, compared to the consensus estimate of $207.56 million. The business’s revenue was up 38.4% on a year-over-year basis.

Shares of NYSE BE opened at $4.60 on Wednesday. The company has a quick ratio of 1.89, a current ratio of 2.32 and a debt-to-equity ratio of 10.34. Bloom Energy has a 12 month low of $4.54 and a 12 month high of $38.00. The company has a market cap of $972.11 million and a price-to-earnings ratio of -1.89. The stock has a fifty day moving average of $11.06.

In other news, COO Susan Seilheimer Brennan sold 11,471 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $10.72, for a total value of $122,969.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Randy W. Furr sold 46,675 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $11.16, for a total transaction of $520,893.00. The disclosure for this sale can be found here. 36.45% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Bloom Energy by 29.3% during the fourth quarter. BlackRock Inc. now owns 432,121 shares of the company’s stock worth $4,313,000 after buying an additional 97,927 shares during the last quarter. Raymond James & Associates increased its position in Bloom Energy by 83.1% during the fourth quarter. Raymond James & Associates now owns 31,305 shares of the company’s stock worth $312,000 after buying an additional 14,212 shares during the last quarter. Barclays PLC increased its position in Bloom Energy by 4,865.0% during the fourth quarter. Barclays PLC now owns 4,965 shares of the company’s stock worth $50,000 after buying an additional 4,865 shares during the last quarter. Bank of America Corp DE increased its position in Bloom Energy by 167.6% during the fourth quarter. Bank of America Corp DE now owns 118,035 shares of the company’s stock worth $1,179,000 after buying an additional 73,928 shares during the last quarter. Finally, Millennium Management LLC increased its position in Bloom Energy by 108.7% during the fourth quarter. Millennium Management LLC now owns 29,049 shares of the company’s stock worth $290,000 after buying an additional 15,127 shares during the last quarter. 33.58% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have commented on BE. ValuEngine upgraded shares of Bloom Energy from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Robert W. Baird decreased their price objective on shares of Bloom Energy from $16.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of Bloom Energy from $33.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday. KeyCorp restated an “overweight” rating and issued a $15.00 price objective (down from $27.00) on shares of Bloom Energy in a report on Wednesday. Finally, Bank of America lowered shares of Bloom Energy from a “neutral” rating to an “underperform” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $16.45.

Bloom Energy Company Profile

Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. The company offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion.

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Earnings History for Bloom Energy (NYSE:BE)

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