Bloom Energy Corp (BE) Expected to Post Quarterly Sales of $192.54 Million

Brokerages expect Bloom Energy Corp (NYSE:BE) to announce sales of $192.54 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Bloom Energy’s earnings, with the highest sales estimate coming in at $200.40 million and the lowest estimate coming in at $173.30 million. The business is scheduled to announce its next quarterly earnings results on Tuesday, May 7th.

According to Zacks, analysts expect that Bloom Energy will report full-year sales of $880.34 million for the current financial year, with estimates ranging from $842.30 million to $907.31 million. For the next financial year, analysts expect that the firm will report sales of $1.08 billion, with estimates ranging from $961.20 million to $1.17 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Bloom Energy.

BE has been the subject of several research analyst reports. ValuEngine upgraded Bloom Energy from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Zacks Investment Research downgraded Bloom Energy from a “hold” rating to a “sell” rating in a report on Thursday, November 15th. Cowen reaffirmed a “hold” rating and set a $20.00 target price on shares of Bloom Energy in a report on Wednesday, November 7th. Finally, Credit Suisse Group raised Bloom Energy from an “underperform” rating to a “neutral” rating and set a $24.00 target price for the company in a report on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Bloom Energy currently has a consensus rating of “Hold” and an average price target of $22.87.

In related news, major shareholder Technology Ventures Adv Mobius sold 195,535 shares of the stock in a transaction dated Wednesday, January 23rd. The stock was sold at an average price of $11.88, for a total value of $2,322,955.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 678,755 shares of company stock valued at $7,670,945.

A number of hedge funds have recently modified their holdings of BE. Victory Capital Management Inc. acquired a new position in Bloom Energy in the 3rd quarter worth about $108,000. Cerity Partners LLC acquired a new position in Bloom Energy in the 4th quarter worth about $113,000. PNC Financial Services Group Inc. acquired a new position in Bloom Energy in the 3rd quarter worth about $116,000. Osborn Williams & Donohoe LLC increased its position in Bloom Energy by 73.1% in the 4th quarter. Osborn Williams & Donohoe LLC now owns 29,000 shares of the company’s stock worth $289,000 after purchasing an additional 12,250 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Bloom Energy in the 3rd quarter worth about $303,000. 19.52% of the stock is currently owned by institutional investors.

Shares of Bloom Energy stock traded down $0.65 during trading on Wednesday, hitting $9.41. The stock had a trading volume of 801,095 shares, compared to its average volume of 887,978. The company has a quick ratio of 2.07, a current ratio of 2.57 and a debt-to-equity ratio of 6.76. The firm has a market cap of $1.11 billion and a price-to-earnings ratio of -3.87. Bloom Energy has a fifty-two week low of $8.88 and a fifty-two week high of $38.00.

Bloom Energy Company Profile

Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems. It 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. The company was formerly known as Ion America Corp.

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