In a report released today, Colin Rusch from Oppenheimer maintained a Hold rating on Bloom Energy (BE). The company’s shares closed last Wednesday at $41.41, close to its 52-week high of $44.95.
According to TipRanks.com, Rusch is a top 25 analyst with an average return of 83.5% and a 66.0% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as American Superconductor, Westport Fuel Systems, and Workhorse Group.
Bloom Energy has an analyst consensus of Hold, with a price target consensus of $34.80, implying a -17.5% downside from current levels. In a report issued on February 3, Bernstein also initiated coverage with a Hold rating on the stock with a $41.00 price target.
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Based on Bloom Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $200 million and GAAP net loss of $11.95 million. In comparison, last year the company earned revenue of $224 million and had a GAAP net loss of $51.75 million.
Based on the recent corporate insider activity of 76 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.
