Bloom Energy (NYSE:BE) Reaches New 1-Year High Following Analyst Upgrade

Key Points

• Bloom Energy shares reached a new 52-week high of $85.95 after Roth Capital upgraded their price target from $34.00 to $73.00 while maintaining a neutral rating.
• Multiple analysts have recently increased their price targets for Bloom Energy, with Susquehanna and JPMorgan raising theirs to $30.00 and $33.00 respectively.
• Insider activity has been noted with 302,205 shares sold by company insiders over the past 90 days, reflecting significant transactions at varying average prices.

Bloom Energy Corporation (NYSE:BE - Get Free Report) shares hit a new 52-week high on Monday after Roth Capital raised their price target on the stock from $34.00 to $73.00. Roth Capital currently has a neutral rating on the stock. Bloom Energy traded as high as $85.95 and last traded at $85.26, with a volume of 7162553 shares. The stock had previously closed at $84.93.

A number of other analysts have also weighed in on BE. Susquehanna raised their price objective on shares of Bloom Energy from $26.00 to $30.00 and gave the company a "positive" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. upgraded shares of Bloom Energy from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $18.00 to $33.00 in a research note on Wednesday, July 9th. UBS Group lifted their price target on shares of Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Wells Fargo & Company raised their price objective on shares of Bloom Energy from $38.00 to $65.00 and gave the stock an "equal weight" rating in a report on Friday, September 12th. Finally, Morgan Stanley raised their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $32.13.

Insider Activity

In related news, insider Satish Chitoori sold 400 shares of the business's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $71.16, for a total value of $28,464.00. Following the sale, the insider owned 231,965 shares in the company, valued at approximately $16,506,629.40. The trade was a 0.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shawn Marie Soderberg sold 25,000 shares of the business's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $52.00, for a total transaction of $1,300,000.00. Following the completion of the sale, the insider owned 225,949 shares in the company, valued at $11,749,348. This represents a 9.96% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 302,205 shares of company stock valued at $14,919,283. Company insiders own 3.60% of the company's stock.

Institutional Trading of Bloom Energy

Large investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its stake in shares of Bloom Energy by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company's stock valued at $1,704,000 after purchasing an additional 26,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Bloom Energy by 634.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company's stock worth $11,763,000 after acquiring an additional 516,833 shares during the period. Teacher Retirement System of Texas lifted its stake in Bloom Energy by 662.4% in the first quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company's stock worth $1,445,000 after acquiring an additional 63,875 shares during the period. Comerica Bank lifted its stake in Bloom Energy by 5.8% in the first quarter. Comerica Bank now owns 88,554 shares of the company's stock worth $1,741,000 after acquiring an additional 4,885 shares during the period. Finally, Torray Investment Partners LLC purchased a new stake in Bloom Energy in the first quarter worth about $904,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Trading Up 1.0%

The firm has a market capitalization of $20.08 billion, a PE ratio of 2,146.04 and a beta of 3.28. The company's 50-day simple moving average is $45.97 and its 200 day simple moving average is $29.44. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18.

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