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

Shares of Bloom Energy Corporation (NYSE:BE) gapped up prior to trading on Wednesday after Bank of America raised their price target on the stock from $26.00 to $39.00. The stock had previously closed at $94.29, but opened at $99.86. Bank of America currently has an underperform rating on the stock. Bloom Energy shares last traded at $92.8960, with a volume of 2,727,650 shares trading hands.

BE has been the topic of several other reports. UBS Group raised their target price on shares of Bloom Energy to $115.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. BTIG Research increased their price target on shares of Bloom Energy to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. TD Cowen lifted their price objective on shares of Bloom Energy to $105.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of Bloom Energy in a research note on Thursday, October 30th. Finally, HSBC raised Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and an average target price of $93.57.

Insider Transactions at Bloom Energy

In related news, CEO Kr Sridhar sold 37,955 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $53.39, for a total value of $2,026,417.45. Following the completion of the transaction, the chief executive officer owned 2,378,663 shares in the company, valued at $126,996,817.57. This trade represents a 1.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 36,666 shares of Bloom Energy stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $141.00, for a total transaction of $5,169,906.00. Following the sale, the insider owned 225,949 shares in the company, valued at approximately $31,858,809. This represents a 13.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 157,544 shares of company stock valued at $18,466,159. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of Bloom Energy by 3.3% in the 3rd quarter. CWM LLC now owns 5,111 shares of the company’s stock valued at $432,000 after purchasing an additional 162 shares during the last quarter. Seelaus Asset Management LLC lifted its holdings in Bloom Energy by 2.4% in the third quarter. Seelaus Asset Management LLC now owns 11,420 shares of the company’s stock valued at $966,000 after buying an additional 270 shares during the period. Parkside Financial Bank & Trust boosted its position in Bloom Energy by 250.9% during the third quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock valued at $33,000 after acquiring an additional 281 shares during the last quarter. Rothschild Investment LLC grew its holdings in Bloom Energy by 74.4% during the 3rd quarter. Rothschild Investment LLC now owns 680 shares of the company’s stock worth $58,000 after acquiring an additional 290 shares during the period. Finally, Prospera Financial Services Inc grew its holdings in Bloom Energy by 0.3% during the 2nd quarter. Prospera Financial Services Inc now owns 95,532 shares of the company’s stock worth $2,285,000 after acquiring an additional 313 shares during the period. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Performance

The stock has a market capitalization of $23.93 billion, a P/E ratio of 523.83, a price-to-earnings-growth ratio of 53.13 and a beta of 3.43. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. The company has a 50-day moving average price of $103.78 and a two-hundred day moving average price of $57.95.

Bloom Energy (NYSE:BE) last released its earnings results on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.08 by $0.07. The business had revenue of $508.69 million during the quarter, compared to analysts’ expectations of $425.18 million. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The firm’s revenue was up 57.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) earnings per share. On average, equities 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.