Bloom Energy (NYSE:BE) Sets New 1-Year High - Should You Buy?

Key Points

• Bloom Energy shares reached a new 52-week high of $88.08 during trading, indicating strong investor interest and market performance.
• Analysts are bullish on Bloom Energy, with several increasing their price targets significantly; for instance, JPMorgan Chase raised its target from $18.00 to $33.00.
• The company reported quarterly earnings of $0.10 per share, exceeding expectations, and a year-over-year revenue increase of 19.5%, indicating solid growth potential.

Bloom Energy Corporation (NYSE:BE - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $88.08 and last traded at $84.43, with a volume of 3902037 shares. The stock had previously closed at $84.57.

Analyst Ratings Changes

Several analysts have recently issued reports on BE shares. JPMorgan Chase & Co. raised Bloom Energy from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $18.00 to $33.00 in a report on Wednesday, July 9th. Susquehanna upped their price objective on Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a report on Monday, July 21st. Wells Fargo & Company increased their price target on Bloom Energy from $38.00 to $65.00 and gave the company an "equal weight" rating in a report on Friday, September 12th. Morgan Stanley increased 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. Finally, Roth Capital increased their price target on Bloom Energy from $34.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, Bloom Energy currently has an average rating of "Hold" and an average target price of $38.29.

Bloom Energy Stock Performance

The firm has a 50 day moving average price of $53.04 and a 200-day moving average price of $31.92. 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 stock has a market capitalization of $20.16 billion, a PE ratio of 2,151.21 and a beta of 3.28.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share 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 company had revenue of $401.24 million during the quarter, compared to analysts' expectations of $382.23 million. During the same period last year, the business earned ($0.06) earnings per share. Bloom Energy's quarterly revenue was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. Research analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Satish Chitoori sold 400 shares of the business's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $71.16, for a total transaction of $28,464.00. Following the transaction, 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 filing with the SEC, which is accessible through the SEC website. Also, insider Aman Joshi sold 4,870 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $43.36, for a total value of $211,163.20. Following the transaction, the insider directly owned 224,361 shares in the company, valued at $9,728,292.96. This trade represents a 2.12% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 302,205 shares of company stock valued at $14,919,283. Insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new stake in Bloom Energy during the 2nd quarter worth about $57,821,000. Man Group plc increased its holdings in Bloom Energy by 177.4% during the 2nd quarter. Man Group plc now owns 2,392,915 shares of the company's stock worth $57,239,000 after purchasing an additional 1,530,167 shares during the period. Tree Line Advisors Hong Kong Ltd. purchased a new stake in Bloom Energy during the 1st quarter worth about $22,609,000. Driehaus Capital Management LLC purchased a new stake in Bloom Energy during the 1st quarter worth about $21,066,000. Finally, Goldman Sachs Group Inc. increased its holdings in Bloom Energy by 50.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company's stock worth $49,127,000 after purchasing an additional 836,810 shares during the period. Hedge funds and other institutional investors own 77.04% of the company's stock.

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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