Bloom Energy (BE) Gets a Buy from RBC Capital

In a report released on April 10, Chris Dendrinos from RBC Capital maintained a Buy rating on Bloom Energy, with a price target of $143.00. The company’s shares closed yesterday at $166.70.

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Dendrinos covers the Technology sector, focusing on stocks such as First Solar, Enphase Energy, and SolarEdge Technologies. According to TipRanks, Dendrinos has an average return of 53.1% and a 54.19% success rate on recommended stocks.

In addition to RBC Capital, Bloom Energy also received a Buy from Susquehanna’s Charles Minervino in a report issued on April 9. However, on March 27, Jefferies maintained a Sell rating on Bloom Energy (NYSE: BE).

Based on Bloom Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $777.68 million and a net profit of $1.09 million. In comparison, last year the company earned a revenue of $572.39 million and had a net profit of $104.8 million

Based on the recent corporate insider activity of 74 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. Last month, Satish Chitoori, the COO of BE sold 3,042.00 shares for a total of $464,178.78.