Bloom Energy (NYSE:BE) Shares Gap Up After Analyst Upgrade

Bloom Energy Corporation (NYSE:BE) shares gapped up prior to trading on Friday after Roth Capital raised their price target on the stock from $34.00 to $73.00. The stock had previously closed at $80.97, but opened at $84.00. Roth Capital currently has a neutral rating on the stock. Bloom Energy shares last traded at $82.94, with a volume of 3,006,873 shares trading hands.

BE has been the topic of several other reports. UBS Group upped their price target on shares of Bloom Energy from $29.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Mizuho upped their price target on shares of Bloom Energy from $26.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, July 14th. Susquehanna increased their price objective on shares of Bloom Energy from $26.00 to $30.00 and gave the stock a “positive” rating in a research note on Monday, July 21st. Robert W. Baird raised their price target on shares of Bloom Energy from $45.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Finally, JPMorgan Chase & Co. upgraded shares of Bloom Energy from a “neutral” rating to an “overweight” rating and raised their price target for the company from $18.00 to $33.00 in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bloom Energy currently has an average rating of “Moderate Buy” and an average target price of $32.13.

Insider Activity at Bloom Energy

In other news, insider Aman Joshi sold 4,870 shares of Bloom Energy stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $43.36, for a total transaction of $211,163.20. Following the sale, the insider directly owned 224,361 shares in the company, valued at $9,728,292.96. The trade was a 2.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Maciej Kurzymski sold 2,474 shares of the business’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $70.47, for a total value of $174,342.78. Following the completion of the sale, the insider owned 106,374 shares in the company, valued at $7,496,175.78. This represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 302,205 shares of company stock worth $14,919,283. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BE. Cetera Investment Advisers grew its holdings in shares of Bloom Energy by 19.9% during the fourth quarter. Cetera Investment Advisers now owns 23,842 shares of the company’s stock worth $530,000 after purchasing an additional 3,956 shares in the last quarter. DigitalBridge Group Inc. grew its holdings in shares of Bloom Energy by 5.7% during the fourth quarter. DigitalBridge Group Inc. now owns 1,418,257 shares of the company’s stock worth $31,499,000 after purchasing an additional 75,974 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Bloom Energy by 1.7% during the fourth quarter. Mackenzie Financial Corp now owns 63,372 shares of the company’s stock worth $1,407,000 after purchasing an additional 1,035 shares in the last quarter. 111 Capital purchased a new position in shares of Bloom Energy during the fourth quarter worth about $278,000. Finally, Wellington Management Group LLP grew its holdings in shares of Bloom Energy by 306.3% during the fourth quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company’s stock worth $30,736,000 after purchasing an additional 1,043,326 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Performance

The firm has a market cap of $19.91 billion, a PE ratio of 2,128.03 and a beta of 3.28. The company has a 50 day simple moving average of $45.97 and a 200-day simple moving average of $29.39. 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 issued its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.08. The business had revenue of $401.24 million during the quarter, compared to analyst estimates of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.Bloom Energy’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. Bloom Energy has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate 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.