Bloom Energy (NYSE:BE) Hits New 52-Week High – Time to Buy?

Bloom Energy Corporation (NYSE:BE)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $150.84 and last traded at $145.1260, with a volume of 4577653 shares. The stock had previously closed at $139.17.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BE. Morgan Stanley lifted their price objective on shares of Bloom Energy to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $123.00 price target on shares of Bloom Energy in a report on Monday, October 20th. Mizuho set a $89.00 price objective on Bloom Energy in a report on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of Bloom Energy in a research report on Thursday, October 30th. Finally, Hsbc Global Res raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $96.00.

Bloom Energy Stock Up 7.3%

The firm has a market cap of $35.31 billion, a price-to-earnings ratio of 830.56, a price-to-earnings-growth ratio of 12.59 and a beta of 3.01. The stock’s 50 day moving average is $105.62 and its 200 day moving average is $79.72. 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 issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The firm had revenue of $519.05 million during the quarter, compared to analyst estimates of $425.18 million. During the same period last year, the company posted ($0.01) EPS. The firm’s quarterly revenue was up 57.1% on a year-over-year basis. Analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Buying and Selling

In related news, insider Satish Chitoori sold 431 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $88.12, for a total value of $37,979.72. Following the sale, the insider directly owned 229,449 shares in the company, valued at $20,219,045.88. The trade was a 0.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Maciej Kurzymski sold 3,264 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $86.48, for a total transaction of $282,270.72. Following the sale, the insider owned 90,005 shares of the company’s stock, valued at $7,783,632.40. The trade was a 3.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 120,410 shares of company stock worth $16,557,185 in the last ninety days. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. StoneCrest Wealth Management Inc. bought a new stake in shares of Bloom Energy during the 4th quarter worth $604,000. MRA Advisory Group acquired a new stake in shares of Bloom Energy during the fourth quarter worth $453,000. Genesis Financial Group LLC purchased a new stake in shares of Bloom Energy during the fourth quarter valued at $1,412,000. Aberdeen Group plc acquired a new position in shares of Bloom Energy in the 4th quarter valued at $300,000. Finally, TB Alternative Assets Ltd. acquired a new position in shares of Bloom Energy in the 4th quarter valued at $417,000. Institutional investors own 77.04% of the company’s stock.

About Bloom Energy

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.