Bloom Energy (NYSE:BE) Reaches New 12-Month High - Should You Buy?

Key Points

• Bloom Energy shares reached a new 52-week high of $54.34, closing at $53.94, which marks an increase from the previous close of $50.85 during heavy trading volume.
• Several brokerages have upgraded their ratings on Bloom Energy, with Morgan Stanley raising its price target from $35 to $44 and JPMorgan boosting theirs from $18 to $33, indicating a positive outlook for the stock.
• The company reported a quarterly revenue increase of 19.5% from the previous year, with $401.24 million in revenue and earnings per share of $0.10, significantly beating analysts' expectations.

Bloom Energy Corporation (NYSE:BE - Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as $54.34 and last traded at $53.94, with a volume of 4371226 shares traded. The stock had previously closed at $50.85.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BE. Morgan Stanley boosted their price target on Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Piper Sandler dropped their price target on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. JPMorgan Chase & Co. raised Bloom Energy from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $18.00 to $33.00 in a research report on Wednesday, July 9th. UBS Group boosted their price target on Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company boosted their price target on Bloom Energy from $22.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $26.39.

Bloom Energy Stock Performance

The firm has a market capitalization of $12.54 billion, a PE ratio of 1,340.34 and a beta of 3.28. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. The business's 50 day simple moving average is $32.60 and its two-hundred day simple moving average is $24.82.

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

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Aman Joshi sold 4,870 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $43.36, for a total transaction of $211,163.20. Following the completion of the sale, the insider directly owned 224,361 shares in the company, valued at approximately $9,728,292.96. The trade was a 2.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Satish Chitoori sold 2,128 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $43.44, for a total transaction of $92,440.32. Following the sale, the insider owned 232,365 shares of the company's stock, valued at approximately $10,093,935.60. This represents a 0.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,522 shares of company stock valued at $3,580,387 in the last quarter. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently modified their holdings of BE. Norges Bank purchased a new stake in shares of Bloom Energy in the 2nd quarter worth $57,821,000. Man Group plc increased its stake in Bloom Energy by 177.4% in the 2nd quarter. Man Group plc now owns 2,392,915 shares of the company's stock worth $57,239,000 after buying an additional 1,530,167 shares in the last quarter. Tree Line Advisors Hong Kong Ltd. purchased a new stake in Bloom Energy in the 1st quarter worth $22,609,000. Voloridge Investment Management LLC increased its stake in Bloom Energy by 323.6% in the 4th quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company's stock worth $31,992,000 after buying an additional 1,100,352 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in Bloom Energy in the 1st quarter worth $21,066,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

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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