Wells Fargo & Company Forecasts Strong Price Appreciation for Bloom Energy (NYSE:BE) Stock

Bloom Energy (NYSE:BE) had its price target lifted by equities researchers at Wells Fargo & Company from $38.00 to $65.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 3.17% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. Mizuho raised their price target on Bloom Energy from $26.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, July 14th. UBS Group increased their price objective on Bloom Energy from $29.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Roth Capital increased their price objective on Bloom Energy from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Susquehanna increased their price objective on Bloom Energy from $26.00 to $30.00 and gave the company a “positive” rating in a research report on Monday, July 21st. Finally, Morgan Stanley increased their price objective on Bloom Energy from $35.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.61.

Bloom Energy Trading Down 0.2%

BE stock opened at $67.13 on Friday. The business has a fifty day moving average price of $40.82 and a 200 day moving average price of $27.52. Bloom Energy has a fifty-two week low of $9.02 and a fifty-two week high of $68.74. The stock has a market capitalization of $15.71 billion, a price-to-earnings ratio of 1,678.67 and a beta of 3.28. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21.

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

Insiders Place Their Bets

In other Bloom Energy news, CEO Kr Sridhar sold 60,000 shares of Bloom Energy stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the transaction, the chief executive officer directly owned 2,368,951 shares in the company, valued at approximately $117,736,864.70. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shawn Marie Soderberg sold 45,000 shares of Bloom Energy stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $43.31, for a total value of $1,948,950.00. Following the transaction, the insider owned 229,682 shares in the company, valued at approximately $9,947,527.42. This represents a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 308,477 shares of company stock worth $14,924,815 over the last three months. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Wyoming bought a new position in Bloom Energy during the second quarter worth about $138,000. Castleark Management LLC bought a new position in Bloom Energy during the second quarter worth about $177,000. FORA Capital LLC bought a new position in Bloom Energy during the second quarter worth about $510,000. Tower Research Capital LLC TRC lifted its holdings in Bloom Energy by 303.6% during the second quarter. Tower Research Capital LLC TRC now owns 29,266 shares of the company’s stock worth $700,000 after acquiring an additional 22,015 shares in the last quarter. Finally, Corient Private Wealth LLC bought a new position in Bloom Energy during the second quarter worth about $235,000. 77.04% of the stock is currently owned by institutional investors.

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.