Bloom Energy (NYSE:BE) Reaches New 12-Month High - Still a Buy?

Key Points

• Bloom Energy's stock reached a new 12-month high of $95.70 before trading at $87.08, demonstrating a significant increase in share volume of 12,255,388.
• Analyst ratings vary, with a consensus of "Hold" and target prices ranging from $31 to $90, indicating mixed investor sentiment about the stock's future performance.
• The company reported quarterly earnings that exceeded expectations, with $0.10 earnings per share against a consensus estimate of $0.02, showing a year-over-year revenue increase of 19.5%.

Shares of Bloom Energy Corporation (NYSE:BE - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $95.70 and last traded at $87.08, with a volume of 12255388 shares changing hands. The stock had previously closed at $90.29.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Royal Bank Of Canada set a $75.00 target price on Bloom Energy in a research report on Tuesday, September 30th. JPMorgan Chase & Co. increased their target price on Bloom Energy from $40.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Roth Capital increased their target price on Bloom Energy from $34.00 to $73.00 and gave the stock a "neutral" rating in a research report on Friday, September 19th. UBS Group reaffirmed an "underperform" rating on shares of Bloom Energy in a research report on Wednesday, October 1st. Finally, Jefferies Financial Group lowered Bloom Energy from a "hold" rating to an "underperform" rating and increased their target price for the stock from $24.00 to $31.00 in a research report on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $46.63.

Bloom Energy Trading Down 3.6%

The business's 50 day moving average is $57.57 and its two-hundred day moving average is $33.78. 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 firm has a market capitalization of $20.38 billion, a P/E ratio of 2,177.54 and a beta of 3.48.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings data 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. 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 for the quarter, compared to analysts' expectations of $382.23 million. During the same period in the previous year, the business earned ($0.06) earnings per share. The company's revenue was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. Analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Buying and Selling at Bloom Energy

In related news, CEO Kr Sridhar sold 37,955 shares of Bloom Energy stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $53.39, for a total transaction of $2,026,417.45. Following the sale, the chief executive officer directly owned 2,378,663 shares in the company, valued at $126,996,817.57. The trade was a 1.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Maciej Kurzymski sold 2,474 shares of Bloom Energy stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $70.47, for a total transaction of $174,342.78. Following the sale, the insider owned 106,374 shares in the company, valued at approximately $7,496,175.78. This represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 302,205 shares of company stock valued at $14,919,283. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Elevation Point Wealth Partners LLC acquired a new position in Bloom Energy during the second quarter worth about $36,000. Harbour Investments Inc. grew its holdings in 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 during the period. Banque Transatlantique SA grew its holdings in 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 during the period. NewEdge Advisors LLC grew its holdings 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 acquiring an additional 1,626 shares during the period. Finally, ORG Wealth Partners LLC acquired a new position in Bloom Energy during the first quarter worth about $41,000. 77.04% of the stock is owned by institutional investors and hedge funds.

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.

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