Bloom Energy (NYSE:BE) Reaches New 52-Week High - What's Next?

Key Points

• Bloom Energy's stock reached a new 52-week high at $39.15, closing slightly lower at $38.02 with significant trading volume of over 9.4 million shares.
• Several analysts have raised their price targets for Bloom Energy, with HSBC setting a target of $25.00 and UBS increasing it to $41.00, reflecting a consensus rating of "Moderate Buy."
• The company reported a quarterly earnings per share (EPS) of $0.10, surpassing analyst expectations by $0.08, and showing a 19.5% increase in revenue year-over-year.

Bloom Energy Corporation (NYSE:BE - Get Free Report)'s share price reached a new 52-week high on Tuesday . The company traded as high as $39.15 and last traded at $38.02, with a volume of 9482511 shares traded. The stock had previously closed at $36.10.

Analysts Set New Price Targets

A number of research analysts have weighed in on BE shares. Royal Bank Of Canada set a $26.00 price objective on shares of Bloom Energy in a report on Monday, April 14th. Roth Capital boosted their price target on shares of Bloom Energy from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. upgraded shares of 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 target price on shares of Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, HSBC raised shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 target price on the stock in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $26.39.

Bloom Energy Stock Performance

The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 939.98 and a beta of 3.28. The stock has a 50-day moving average of $24.86 and a 200 day moving average of $22.55. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21.

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 the consensus estimate of $0.02 by $0.08. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%. The firm had revenue of $401.24 million for the quarter, compared to analysts' expectations of $382.23 million. During the same quarter in the previous year, the business posted ($0.06) EPS. The business's quarterly revenue was up 19.5% compared to the same quarter last year. On average, analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Activity at Bloom Energy

In other news, insider Maciej Kurzymski sold 1,012 shares of Bloom Energy stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $25.27, for a total transaction of $25,573.24. Following the sale, the insider directly owned 108,848 shares of the company's stock, valued at approximately $2,750,588.96. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kr Sridhar sold 42,383 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total value of $811,210.62. Following the transaction, the chief executive officer owned 2,724,613 shares of the company's stock, valued at $52,149,092.82. This trade represents a 1.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,513 shares of company stock worth $1,261,765 in the last quarter. 3.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Bloom Energy

Hedge funds have recently bought and sold shares of the business. Transatlantique Private Wealth LLC bought a new stake in shares of Bloom Energy during the 2nd quarter valued at $234,000. K.J. Harrison & Partners Inc bought a new stake in shares of Bloom Energy during the 2nd quarter valued at $478,000. Torray Investment Partners LLC raised its stake in shares of Bloom Energy by 50.8% during the 2nd quarter. Torray Investment Partners LLC now owns 69,320 shares of the company's stock valued at $1,658,000 after purchasing an additional 23,351 shares during the period. Eleva Capital SAS bought a new stake in shares of Bloom Energy during the 2nd quarter valued at $980,000. Finally, Emerald Advisers LLC grew its position in Bloom Energy by 4.3% during the second quarter. Emerald Advisers LLC now owns 375,796 shares of the company's stock worth $8,989,000 after buying an additional 15,382 shares in the last quarter. 77.04% of the stock is currently owned by 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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