Raymond James’ Take on This Canadian Energy Stock


In a report released today, Pavel Molchanov from Raymond James 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, Molchanov is a 5-star analyst with an average return of 16.0% and a 60.0% success rate. Molchanov covers the Utilities sector, focusing on stocks such as Maxeon Solar Technologies, Nextera Energy Partners, and Exxon Mobil.

Bloom Energy has an analyst consensus of Hold, with a price target consensus of $34.80, 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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The company has a one-year high of $44.95 and a one-year low of $3.00. Currently, Bloom Energy has an average volume of 5.69M.

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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