Bloom Energy (NYSE:BE) Hits New 12-Month High After Analyst Upgrade

Bloom Energy Corporation (NYSE:BE)’s share price hit a new 52-week high during mid-day trading on Monday after Roth Capital raised their price target on the stock from $34.00 to $73.00. Roth Capital currently has a neutral rating on the stock. Bloom Energy traded as high as $85.95 and last traded at $85.26, with a volume of 7162553 shares traded. The stock had previously closed at $84.93.

Other research analysts have also issued reports about the company. Mizuho upped their price target on Bloom Energy from $26.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, July 14th. JPMorgan Chase & Co. upgraded Bloom Energy from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $18.00 to $33.00 in a report on Wednesday, July 9th. Wells Fargo & Company upped their price target on Bloom Energy from $38.00 to $65.00 and gave the stock an “equal weight” rating in a report on Friday, September 12th. Morgan Stanley upped their price target on Bloom Energy from $35.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Susquehanna upped their price target on Bloom Energy from $26.00 to $30.00 and gave the stock a “positive” rating in a report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bloom Energy has a consensus rating of “Moderate Buy” and an average target price of $32.13.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 45,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $43.31, for a total transaction of $1,948,950.00. Following the completion of the transaction, the insider directly owned 229,682 shares in the company, valued at $9,947,527.42. This represents a 16.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Satish Chitoori sold 20,000 shares of the 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 transaction, the insider owned 234,493 shares of the company’s stock, valued at $10,552,185. This represents a 7.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 302,205 shares of company stock valued at $14,919,283 in the last ninety days. 3.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares 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 during 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 during the last quarter. 111 Capital bought a new stake in shares of Bloom Energy during the fourth quarter worth $278,000. 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 during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Bloom Energy by 2,149.6% during the first quarter. GAMMA Investing LLC now owns 60,513 shares of the company’s stock worth $1,190,000 after purchasing an additional 57,823 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Stock Up 1.8%

The firm has a fifty day moving average price of $47.18 and a 200 day moving average price of $29.88. 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 company has a market cap of $20.23 billion, a P/E ratio of 2,162.04 and a beta of 3.28.

Bloom Energy (NYSE:BE) last announced its earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.02 by $0.08. The company 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 revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.06) earnings per share. Bloom Energy has set its FY 2025 guidance at EPS. Equities research analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Bloom Energy Company Profile

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.