Bloom Energy (NYSE:BE) Hits New 12-Month High – What’s Next?

Bloom Energy Corporation (NYSE:BE) shares reached a new 52-week high on Thursday . The company traded as high as $155.87 and last traded at $150.50, with a volume of 12654404 shares trading hands. The stock had previously closed at $151.75.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Susquehanna raised their target price on Bloom Energy to $157.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada set a $143.00 price target on Bloom Energy in a research note on Tuesday. Zacks Research cut shares of Bloom Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Roth Mkm reaffirmed a “neutral” rating and issued a $103.00 price objective on shares of Bloom Energy in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Bloom Energy to $129.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $100.57.

Bloom Energy Trading Down 0.7%

The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. The business has a fifty day moving average of $108.30 and a 200-day moving average of $83.65. The stock has a market capitalization of $34.21 billion, a price-to-earnings ratio of 809.06, a price-to-earnings-growth ratio of 12.26 and a beta of 3.01.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The company had revenue of $519.05 million during the quarter, compared to the consensus estimate of $425.18 million. During the same period in the prior year, the company earned ($0.01) EPS. Bloom Energy’s revenue was up 57.1% on a year-over-year basis. On average, equities analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Activity

In other Bloom Energy news, Director Jim H. Snabe sold 20,000 shares of Bloom Energy stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $143.04, for a total value of $2,860,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Maciej Kurzymski sold 3,264 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $86.48, for a total value of $282,270.72. Following the sale, the insider directly owned 90,005 shares of the company’s stock, valued at approximately $7,783,632.40. This represents a 3.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 120,410 shares of company stock valued at $16,557,185 in the last ninety days. 3.60% of the stock is owned by company insiders.

Institutional Trading of Bloom Energy

Several institutional investors and hedge funds have recently bought and sold shares of BE. Resona Asset Management Co. Ltd. purchased a new stake in shares of Bloom Energy in the second quarter valued at $108,000. Mizuho Markets Americas LLC grew its holdings in shares of Bloom Energy by 29.9% during the second quarter. Mizuho Markets Americas LLC now owns 395,490 shares of the company’s stock valued at $9,460,000 after buying an additional 90,980 shares in the last quarter. Udine Wealth Management Inc. raised its position in Bloom Energy by 27.8% during the third quarter. Udine Wealth Management Inc. now owns 62,967 shares of the company’s stock valued at $5,325,000 after buying an additional 13,684 shares during the period. Huntleigh Advisors Inc. purchased a new stake in Bloom Energy in the 3rd quarter worth about $766,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in Bloom Energy in the 3rd quarter worth about $1,106,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

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.