Bank of America Issues Positive Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its price target raised by Bank of America from $24.00 to $26.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has an underperform rating on the stock.

Other analysts have also recently issued research reports about the company. Morgan Stanley increased their target price on Bloom Energy from $35.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Bloom Energy in a report on Wednesday, October 8th. BMO Capital Markets increased their target price on Bloom Energy from $33.00 to $97.00 and gave the stock a “market perform” rating in a report on Tuesday, October 14th. Roth Capital raised their price target on Bloom Energy from $34.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, September 19th. Finally, JPMorgan Chase & Co. raised their price target on Bloom Energy from $40.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $64.20.

Bloom Energy Price Performance

Shares of BE stock opened at $108.91 on Monday. The stock’s fifty day moving average is $70.65 and its 200-day moving average is $39.48. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99. The stock has a market capitalization of $25.49 billion, a PE ratio of 2,723.51, a PEG ratio of 176.86 and a beta of 3.48. Bloom Energy has a 52 week low of $9.02 and a 52 week high of $125.75.

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 expect that Bloom Energy will post -0.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bloom Energy news, insider Satish Chitoori sold 20,000 shares of the stock in a transaction dated 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 approximately $10,552,185. This represents a 7.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Maciej Kurzymski sold 2,474 shares of the 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 transaction, the insider directly owned 106,374 shares in the company, valued at $7,496,175.78. The trade was a 2.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 301,193 shares of company stock valued at $14,893,710 over 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. lifted its stake in Bloom Energy by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company’s stock valued at $1,704,000 after buying an additional 26,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Bloom Energy by 634.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company’s stock valued at $11,763,000 after buying an additional 516,833 shares during the period. Teacher Retirement System of Texas lifted its stake in Bloom Energy by 662.4% in the first quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company’s stock valued at $1,445,000 after buying an additional 63,875 shares during the period. Comerica Bank lifted its stake in Bloom Energy by 5.8% in the first quarter. Comerica Bank now owns 88,554 shares of the company’s stock valued at $1,741,000 after buying an additional 4,885 shares during the period. Finally, Torray Investment Partners LLC acquired a new position in Bloom Energy in the first quarter valued at about $904,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

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.