Bloom Energy (NYSE:BE) Hits New 12-Month High Following Analyst Upgrade

Key Points

• Bloom Energy hit a new 12-month high on Monday, trading as high as $109.01, following an upgrade from Susquehanna that raised its price target from $43 to $105.
• Bloom Energy currently holds a consensus rating of "Hold" among analysts, with a range of opinions resulting in an average target price of $54.13.
• Insider sales have occurred recently, with total insider transactions over the last ninety days amounting to approximately $14.9 million from 302,205 shares sold.

Bloom Energy Corporation (NYSE:BE - Get Free Report) reached a new 52-week high during trading on Monday after Susquehanna raised their price target on the stock from $43.00 to $105.00. Susquehanna currently has a positive rating on the stock. Bloom Energy traded as high as $109.01 and last traded at $105.74, with a volume of 3021238 shares trading hands. The stock had previously closed at $86.87.

A number of other equities analysts have also issued reports on BE. Royal Bank Of Canada set a $75.00 target price on Bloom Energy in a research report on Tuesday, September 30th. HSBC reissued a "hold" rating and set a $100.00 price objective (up previously from $44.00) on shares of Bloom Energy in a report on Thursday. Zacks Research upgraded shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 3rd. Mizuho lowered Bloom Energy from an "outperform" rating to a "neutral" rating and lifted their price objective for the stock from $48.00 to $79.00 in a report on Thursday, October 2nd. Finally, Jefferies Financial Group downgraded Bloom Energy from a "hold" rating to an "underperform" rating and raised their target price for the stock from $24.00 to $31.00 in a research report on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Bloom Energy currently has a consensus rating of "Hold" and an average target price of $54.13.

Insider Buying and Selling at Bloom Energy

In other news, insider Satish Chitoori sold 400 shares of the business's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $71.16, for a total value of $28,464.00. Following the transaction, the insider directly owned 231,965 shares of the company's stock, valued at $16,506,629.40. The trade was a 0.17% 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 Maciej Kurzymski sold 2,474 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $70.47, for a total value of $174,342.78. Following the transaction, the insider directly owned 106,374 shares in the company, valued at approximately $7,496,175.78. This trade represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 302,205 shares of company stock valued at $14,919,283 over the last ninety days. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

Several institutional investors have recently bought and sold shares of BE. Elevation Point Wealth Partners LLC purchased a new stake in shares of Bloom Energy during the second quarter worth $36,000. Sound Income Strategies LLC lifted its position in shares of Bloom Energy by 75.7% during the third quarter. Sound Income Strategies LLC now owns 1,553 shares of the company's stock worth $135,000 after acquiring an additional 669 shares in the last quarter. Harbour Investments Inc. lifted its position in shares of Bloom Energy by 2,160.0% during the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock worth $31,000 after acquiring an additional 1,512 shares in the last quarter. Banque Transatlantique SA lifted its position in shares of Bloom Energy by 227.6% during the first quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock worth $30,000 after acquiring an additional 1,161 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Bloom Energy by 674.7% in the first quarter. NewEdge Advisors LLC now owns 1,867 shares of the company's stock worth $37,000 after buying an additional 1,626 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company's stock.

Bloom Energy Stock Up 21.4%

The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. The company has a market cap of $24.67 billion, a PE ratio of 2,636.33, a P/E/G ratio of 137.79 and a beta of 3.48. The stock has a 50-day moving average of $61.58 and a 200-day moving average of $35.58.

Bloom Energy (NYSE:BE - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.10 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 business had revenue of $401.24 million for the quarter, compared to analysts' expectations of $382.23 million. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. The firm's revenue was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. Sell-side analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal 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.

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