Bloom Energy (NYSE:BE) Hits New 1-Year High - Here's What Happened

Key Points

• Bloom Energy shares reached a new 52-week high of $59.79 during trading, showing a significant increase from the previous close of $55.00.
• Analyst upgrades include price target increases from firms like Morgan Stanley and UBS, with a current consensus rating of "Moderate Buy" and an average target price of $28.18.
• Bloom Energy reported earnings of $0.10 per share for the last quarter, surpassing expectations and demonstrating a 19.5% year-over-year revenue growth.

Bloom Energy Corporation (NYSE:BE - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $59.79 and last traded at $59.79, with a volume of 279505 shares trading hands. The stock had previously closed at $55.00.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BE. Roth Capital lifted their price objective on Bloom Energy from $20.00 to $25.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Morgan Stanley lifted their price objective on Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. upgraded 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 report on Wednesday, July 9th. Wells Fargo & Company lifted their target price on Bloom Energy from $38.00 to $65.00 and gave the company an "equal weight" rating in a report on Friday. Finally, UBS Group lifted their target price on Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a report on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.61.

Bloom Energy Stock Performance

The stock has a market capitalization of $15.71 billion, a PE ratio of 1,678.67 and a beta of 3.28. 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 fifty day moving average of $40.82 and a 200-day moving average of $27.49.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.08. The company had revenue of $401.24 million during the quarter, compared to the consensus estimate of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.Bloom Energy's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. Equities analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bloom Energy news, insider Aman Joshi sold 4,870 shares of Bloom Energy stock in a transaction dated Thursday, August 14th. The stock was 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 of the company's stock, valued at $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 available at this link. Also, insider Shawn Marie Soderberg sold 25,000 shares of Bloom Energy stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $52.00, for a total value of $1,300,000.00. Following the sale, the insider directly owned 225,949 shares of the company's stock, valued at $11,749,348. This trade represents a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 308,477 shares of company stock valued at $14,924,815 over the last quarter. Corporate insiders own 3.60% of the company's stock.

Institutional Trading of Bloom Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Elevation Point Wealth Partners LLC purchased a new stake in shares of Bloom Energy in the 2nd quarter valued at about $36,000. Harbour Investments Inc. lifted its holdings in shares of Bloom Energy by 2,160.0% in the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock valued at $31,000 after purchasing an additional 1,512 shares during the last quarter. Banque Transatlantique SA lifted its holdings in shares of Bloom Energy by 227.6% in the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock valued at $30,000 after purchasing an additional 1,161 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Bloom Energy by 674.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company's stock valued at $37,000 after purchasing an additional 1,626 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Bloom Energy in the 1st quarter valued at about $41,000. 77.04% of the stock is 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.