Bloom Energy (NYSE:BE) Hits New 52-Week High Following Analyst Upgrade

Bloom Energy Corporation (NYSE:BE)’s share price hit a new 52-week high during trading on Monday after Susquehanna raised their price target on the stock from $43.00 to $105.00. Susquehanna currently has a positive rating on the stock. Bloom Energy traded as high as $109.01 and last traded at $105.74, with a volume of 3021238 shares. The stock had previously closed at $86.87.

Several other analysts have also issued reports on the company. BTIG Research upped their target price on Bloom Energy from $42.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, September 29th. UBS Group restated an “underperform” rating on shares of Bloom Energy in a research note on Wednesday, October 1st. Robert W. Baird upped their price objective on Bloom Energy from $45.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Morgan Stanley upped their price objective on Bloom Energy from $35.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, HSBC restated a “hold” rating and issued a $100.00 price objective (up previously from $44.00) on shares of Bloom Energy in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $54.13.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 45,000 shares of the stock in a transaction that occurred 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 sale, the insider owned 229,682 shares of the company’s stock, valued at $9,947,527.42. This represents a 16.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kr Sridhar sold 60,000 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $49.70, for a total value of $2,982,000.00. Following the transaction, the chief executive officer owned 2,368,951 shares in the company, valued at approximately $117,736,864.70. This trade represents a 2.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 302,205 shares of company stock valued at $14,919,283 in the last 90 days. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. increased its stake in Bloom Energy by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company’s stock worth $1,704,000 after acquiring an additional 26,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Bloom Energy by 634.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company’s stock worth $11,763,000 after acquiring an additional 516,833 shares during the period. Teacher Retirement System of Texas increased its stake in Bloom Energy by 662.4% during the 1st quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company’s stock worth $1,445,000 after acquiring an additional 63,875 shares during the period. Comerica Bank increased its stake in Bloom Energy by 5.8% during the 1st quarter. Comerica Bank now owns 88,554 shares of the company’s stock worth $1,741,000 after acquiring an additional 4,885 shares during the period. Finally, Torray Investment Partners LLC acquired a new stake in shares of Bloom Energy in the 1st quarter valued at $904,000. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Performance

The stock has a fifty day simple moving average of $63.06 and a two-hundred day simple moving average of $36.20. The stock has a market cap of $25.74 billion, a price-to-earnings ratio of 2,750.59, a P/E/G ratio of 137.79 and a beta of 3.48. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99.

Bloom Energy (NYSE:BE) last issued its 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. The firm had revenue of $401.24 million for the quarter, compared to the consensus estimate of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. Analysts expect that Bloom Energy Corporation will post -0.23 EPS 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.