Bloom Energy Corporation (NYSE:BE) Receives $28.18 Average Target Price from Brokerages

Key Points

• Bloom Energy Corporation (NYSE:BE) has received a consensus recommendation of "Moderate Buy" from 21 brokerages, with an average 12-month price target of $28.18.
• The company reported a quarterly earnings of $0.10 per share, surpassing analysts' expectations, and a revenue of $401.24 million, up 19.5% year-over-year.
• Insider trading activity includes significant sales by executives, with CEO Kr Sridhar selling 60,000 shares at an average price of $49.70.

Shares of Bloom Energy Corporation (NYSE:BE - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twenty-one brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $28.1842.

A number of brokerages have recently issued reports on BE. Morgan Stanley increased their price target on shares of Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Robert W. Baird upped their target price on shares of Bloom Energy from $45.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Mizuho increased their target price on shares of Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Susquehanna raised their price target on shares of Bloom Energy from $26.00 to $30.00 and gave the company a "positive" rating in a report on Monday, July 21st. Finally, JPMorgan Chase & Co. raised shares of Bloom Energy from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $18.00 to $33.00 in a report on Wednesday, July 9th.

Bloom Energy Stock Performance

Shares of NYSE:BE traded up $4.29 during trading on Friday, hitting $67.25. 12,228,559 shares of the company were exchanged, compared to its average volume of 10,515,346. Bloom Energy has a 52-week low of $9.02 and a 52-week high of $68.74. The stock has a 50 day moving average of $39.96 and a 200 day moving average of $27.18. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21. The company has a market cap of $15.74 billion, a PE ratio of 1,681.67 and a beta of 3.28.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.08. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The company had revenue of $401.24 million for the quarter, compared to analyst estimates of $382.23 million. During the same period in the previous year, the company posted ($0.06) EPS. The firm's revenue for the quarter was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Bloom Energy will post -0.23 EPS for the current year.

Insiders Place Their Bets

In related news, insider Satish Chitoori sold 20,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $45.00, for a total value of $900,000.00. Following the transaction, the insider directly owned 234,493 shares in the company, valued at approximately $10,552,185. This represents a 7.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 45,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $43.31, for a total transaction of $1,948,950.00. Following the completion of the sale, the insider directly owned 229,682 shares in the company, valued at $9,947,527.42. This represents a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 308,477 shares of company stock worth $14,924,815. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

Institutional investors have recently made changes to their positions in the stock. Elevation Point Wealth Partners LLC purchased a new stake in shares of Bloom Energy during the 2nd quarter valued at $36,000. Harbour Investments Inc. raised its position in Bloom Energy by 2,160.0% during the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock valued at $31,000 after purchasing an additional 1,512 shares in the last quarter. Banque Transatlantique SA raised its position in Bloom Energy by 227.6% during the first quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock valued at $30,000 after purchasing an additional 1,161 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Bloom Energy by 674.7% during the first quarter. NewEdge Advisors LLC now owns 1,867 shares of the company's stock worth $37,000 after purchasing an additional 1,626 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in shares of Bloom Energy in the 1st quarter worth about $41,000. Institutional investors 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.