Bloom Energy (NYSE:BE) Shares Up 8.9% – Time to Buy?

Bloom Energy Corporation (NYSE:BE) shot up 8.9% during mid-day trading on Friday . The stock traded as high as $91.50 and last traded at $94.58. 853,065 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 10,392,208 shares. The stock had previously closed at $86.89.

Analyst Ratings Changes

Several research analysts recently issued reports on BE shares. TD Cowen lifted their price objective on Bloom Energy to $105.00 and gave the stock a “hold” rating in a research report on Wednesday, October 29th. Morgan Stanley raised their price target on Bloom Energy to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Daiwa Capital Markets set a $98.00 price objective on Bloom Energy in a research report on Tuesday, December 2nd. Bank of America increased their price objective on Bloom Energy from $26.00 to $39.00 and gave the company an “underperform” rating in a research note on Tuesday, November 25th. Finally, UBS Group boosted their target price on shares of Bloom Energy to $115.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Bloom Energy has an average rating of “Hold” and a consensus price target of $93.77.

Bloom Energy Price Performance

The company has a 50 day moving average of $106.23 and a 200 day moving average of $72.40. The stock has a market capitalization of $23.26 billion, a price-to-earnings ratio of 548.28, a price-to-earnings-growth ratio of 8.31 and a beta of 3.01. The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.08 by $0.07. The company had revenue of $519.05 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 in the previous year, the business earned ($0.01) EPS. As a group, equities research analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Activity at Bloom Energy

In other Bloom Energy news, Director Mary K. Bush sold 36,000 shares of Bloom Energy stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $142.82, for a total value of $5,141,520.00. Following the transaction, the director owned 133,524 shares in the company, valued at $19,069,897.68. This trade represents a 21.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Aman Joshi sold 4,543 shares of Bloom Energy stock in a transaction on Friday, November 14th. The shares were sold at an average price of $109.13, for a total transaction of $495,777.59. Following the completion of the transaction, the insider owned 219,818 shares in the company, valued at approximately $23,988,738.34. This trade represents a 2.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 120,410 shares of company stock valued at $16,557,185 over the last 90 days. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bloom Energy

Large investors have recently modified their holdings of the company. Graticule Asia Macro Advisors LLC acquired a new position in shares of Bloom Energy in the 3rd quarter valued at about $402,494,000. Trivest Advisors Ltd lifted its position in Bloom Energy by 1,461.6% during the third quarter. Trivest Advisors Ltd now owns 3,420,000 shares of the company’s stock valued at $289,229,000 after buying an additional 3,201,000 shares in the last quarter. Norges Bank purchased a new stake in Bloom Energy during the second quarter worth approximately $57,821,000. Westfield Capital Management Co. LP acquired a new stake in shares of Bloom Energy in the third quarter worth $141,679,000. Finally, Man Group plc raised its stake in shares of Bloom Energy by 177.4% in the 2nd quarter. Man Group plc now owns 2,392,915 shares of the company’s stock valued at $57,239,000 after acquiring an additional 1,530,167 shares during the period. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Bloom Energy Company Profile

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.