Bloom Energy (NYSE:BE) Hits New 1-Year High on Analyst Upgrade

Shares of Bloom Energy Corporation (NYSE:BE) reached a new 52-week high on Thursday after Robert W. Baird raised their price target on the stock from $45.00 to $61.00. Robert W. Baird currently has an outperform rating on the stock. Bloom Energy traded as high as $55.25 and last traded at $54.96, with a volume of 4289208 shares traded. The stock had previously closed at $52.45.

Several other brokerages also recently commented on BE. Roth Capital increased their target price on Bloom Energy from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. UBS Group increased their target price on Bloom Energy from $29.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Susquehanna increased their target price on Bloom Energy from $26.00 to $30.00 and gave the company a “positive” rating in a research note on Monday, July 21st. Mizuho increased their target price on Bloom Energy from $26.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, July 14th. Finally, Wells Fargo & Company increased their target price on Bloom Energy from $22.00 to $38.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.18.

Insider Activity

In other news, insider Maciej Kurzymski sold 8,733 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $22.79, for a total transaction of $199,025.07. Following the transaction, the insider directly owned 109,860 shares of the company’s stock, valued at $2,503,709.40. This represents a 7.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Satish Chitoori sold 20,000 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $45.00, for a total value of $900,000.00. Following the completion of the transaction, the insider directly owned 234,493 shares in the company, valued at approximately $10,552,185. This represents a 7.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 308,477 shares of company stock worth $14,924,815. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Elevation Point Wealth Partners LLC bought a new stake in Bloom Energy during the second quarter valued at about $36,000. Harbour Investments Inc. raised its holdings in Bloom Energy by 2,160.0% during the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company’s stock valued at $31,000 after acquiring an additional 1,512 shares during the period. Banque Transatlantique SA raised its holdings in Bloom Energy by 227.6% during the first quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock valued at $30,000 after acquiring an additional 1,161 shares during the period. NewEdge Advisors LLC raised its holdings in Bloom Energy by 674.7% during the first quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock valued at $37,000 after acquiring an additional 1,626 shares during the period. Finally, ORG Wealth Partners LLC bought a new stake in Bloom Energy during the first quarter valued at about $41,000. 77.04% of the stock is owned by institutional investors.

Bloom Energy Trading Up 4.6%

The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. The stock has a fifty day simple moving average of $36.34 and a 200 day simple moving average of $26.00. The firm has a market capitalization of $12.84 billion, a P/E ratio of 1,371.84 and a beta of 3.28.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.08. The business had revenue of $401.24 million for the quarter, compared to analysts’ expectations of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm earned ($0.06) earnings per share. Bloom Energy has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current year.

About Bloom Energy

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.