Bloom Energy (NYSE:BE) Sees Large Volume Increase Following Analyst Upgrade

Key Points

• Bloom Energy shares experienced a 36% increase in trading volume after Bank of America raised its price target from $21.00 to $24.00, despite maintaining an underperform rating on the stock.
• Multiple analysts have upgraded Bloom Energy's price targets significantly, with Morgan Stanley setting a new target of $44.00, contributing to a consensus rating of "Moderate Buy" and an average target price of $33.08.
• Despite a positive earnings report showing revenue up 19.5% year-over-year, Bloom Energy's stock price has fallen by 10.8% recently, with the latest closing price at $66.30.

Shares of Bloom Energy Corporation (NYSE:BE - Get Free Report) saw unusually-strong trading volume on Wednesday after Bank of America raised their price target on the stock from $21.00 to $24.00. Bank of America currently has an underperform rating on the stock. Approximately 10,841,701 shares changed hands during mid-day trading, an increase of 36% from the previous session's volume of 7,973,102 shares.The stock last traded at $66.30 and had previously closed at $77.38.

A number of other equities research analysts have also recently weighed in on the company. Morgan Stanley raised their price target on Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, August 1st. UBS Group lifted their target price on Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Roth Capital lifted their target price on Bloom Energy from $34.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, September 19th. JPMorgan Chase & Co. raised Bloom Energy from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $18.00 to $33.00 in a research note on Wednesday, July 9th. Finally, Robert W. Baird raised their price target on Bloom Energy from $45.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $33.08.

Insiders Place Their Bets

In related news, insider Satish Chitoori sold 400 shares of Bloom Energy 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 sale, the insider owned 231,965 shares of the company's stock, valued at approximately $16,506,629.40. The trade was a 0.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 25,000 shares of Bloom Energy stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $52.00, for a total value of $1,300,000.00. Following the completion of the sale, the insider directly owned 225,949 shares in the company, valued at approximately $11,749,348. This represents a 9.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 302,205 shares of company stock valued at $14,919,283 in the last quarter. 3.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

Institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers boosted its holdings in shares of Bloom Energy by 19.9% during the fourth quarter. Cetera Investment Advisers now owns 23,842 shares of the company's stock worth $530,000 after acquiring an additional 3,956 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Bloom Energy by 1.7% during the fourth quarter. Mackenzie Financial Corp now owns 63,372 shares of the company's stock worth $1,407,000 after acquiring an additional 1,035 shares during the period. 111 Capital bought a new stake in shares of Bloom Energy during the fourth quarter worth approximately $278,000. Wellington Management Group LLP boosted its holdings in shares of Bloom Energy by 306.3% during the fourth quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company's stock worth $30,736,000 after acquiring an additional 1,043,326 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Bloom Energy by 2,149.6% during the first quarter. GAMMA Investing LLC now owns 60,513 shares of the company's stock worth $1,190,000 after acquiring an additional 57,823 shares during the period. Institutional investors and hedge funds own 77.04% of the company's stock.

Bloom Energy Trading Down 10.8%

The company has a market cap of $16.15 billion, a P/E ratio of 1,725.43 and a beta of 3.28. The business has a fifty day moving average price of $48.22 and a 200-day moving average price of $30.21. 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 issued its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.08. The business had revenue of $401.24 million during the quarter, compared to analysts' expectations of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The firm's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) earnings per share. Bloom Energy has set its FY 2025 guidance at EPS. On average, analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

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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