Bloom Energy (NYSE:BE) Sees Large Volume Increase on Analyst Upgrade

Bloom Energy Corporation (NYSE:BE) shares saw unusually-high trading volume on Wednesday after Bank of America raised their price target on the stock from $21.00 to $24.00. Bank of America currently has an underperform rating on the stock. Approximately 10,841,701 shares traded hands during mid-day trading, an increase of 36% from the previous session’s volume of 7,973,102 shares.The stock last traded at $66.30 and had previously closed at $77.38.

BE has been the subject of several other reports. Mizuho boosted their target price on shares of Bloom Energy from $26.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, July 14th. Wells Fargo & Company boosted their target price on shares of Bloom Energy from $38.00 to $65.00 and gave the company an “equal weight” rating in a research report on Friday, September 12th. JPMorgan Chase & Co. raised shares of Bloom Energy from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $18.00 to $33.00 in a report on Wednesday, July 9th. Roth Capital lifted their price target on shares of Bloom Energy from $34.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, September 19th. Finally, Robert W. Baird lifted their price target on shares of Bloom Energy from $45.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.08.

Insider Transactions at Bloom Energy

In other news, insider Aman Joshi sold 4,870 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $43.36, for a total value of $211,163.20. Following the transaction, the insider owned 224,361 shares in the company, valued at approximately $9,728,292.96. The trade was a 2.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kr Sridhar sold 60,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 2,368,951 shares in the company, valued at $117,736,864.70. This trade represents a 2.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 302,205 shares of company stock worth $14,919,283. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Banque Transatlantique SA lifted its position in shares of Bloom Energy by 227.6% during the 1st 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. Harbour Investments Inc. lifted its position in shares of Bloom Energy by 2,160.0% during the 1st 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. Elevation Point Wealth Partners LLC acquired a new position in shares of Bloom Energy during the 2nd quarter valued at $36,000. NewEdge Advisors LLC lifted its position in shares of Bloom Energy by 674.7% during the 1st 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, Vision Financial Markets LLC acquired a new position in shares of Bloom Energy during the 1st quarter valued at $39,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Stock Down 10.8%

The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. The stock’s 50-day moving average is $49.11 and its 200-day moving average is $30.48. The company has a market cap of $16.16 billion, a price-to-earnings ratio of 1,726.93 and a beta of 3.28.

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