Analyst Provides Guidance for This Canadian Energy Stock

Raymond James analyst Pavel Molchanov reiterated a Buy rating on Bloom Energy (BE) today and set a price target of $33.00. The company’s shares closed last Thursday at $20.02.

According to, Molchanov is a 5-star analyst with an average return of 14.0% and a 58.4% success rate. Molchanov covers the Utilities sector, focusing on stocks such as Maxeon Solar Technologies, Nextera Energy Partners, and Clean Energy Fuels.

Currently, the analyst consensus on Bloom Energy is a Moderate Buy with an average price target of $33.20.

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Based on Bloom Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $249 million and GAAP net loss of $27.14 million. In comparison, last year the company earned revenue of $214 million and had a GAAP net loss of $65.83 million.

Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BE in relation to earlier this year.

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Bloom Energy Corp. engages in the manufacture and installation of on-site distributed power generators. Its product, Bloom Energy Server, converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion. The company was founded by K. R. Sridhar, John Finn, Jim McElroy, Matthias Gottmann, and Dien Nguyen on January 18, 2001 and is headquartered in San Jose, CA.

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