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

Key Points

• Shares of Bloom Energy Corporation reached a new 52-week high at $35.56 during trading, closing at $34.77 with over 9.67 million shares traded.
• Analysts have mixed views on the stock, with target price adjustments ranging from a decrease to $26.00 and an increase to $25.00, leading to a consensus rating of "Moderate Buy".
• Bloom Energy reported a 38.5% increase in revenue year-over-year, with earnings per share at $0.03, exceeding expectations of a loss of $0.07.

Shares of Bloom Energy Corporation (NYSE:BE - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $35.56 and last traded at $34.77, with a volume of 9676088 shares trading hands. The stock had previously closed at $34.78.

Analyst Ratings Changes

A number of analysts recently weighed in on BE shares. Morgan Stanley decreased their target price on shares of Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Susquehanna upped their target price on shares of Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a report on Monday, July 21st. Jefferies Financial Group decreased their target price on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Robert W. Baird decreased their price target on shares of Bloom Energy from $32.00 to $27.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, UBS Group increased their price target on shares of Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.97.

Bloom Energy Stock Performance

The company has a debt-to-equity ratio of 2.07, a quick ratio of 2.39 and a current ratio of 3.44. The firm's 50 day simple moving average is $23.80 and its 200-day simple moving average is $22.27. The company has a market cap of $8.69 billion, a price-to-earnings ratio of -747.85 and a beta of 3.22.

Bloom Energy (NYSE:BE - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.10. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The company had revenue of $326.02 million for the quarter, compared to analysts' expectations of $294.27 million. During the same quarter in the previous year, the company posted ($0.17) EPS. The firm's quarterly revenue was up 38.5% on a year-over-year basis. On average, sell-side analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Maciej Kurzymski sold 1,012 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were 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 in the company, valued at $2,750,588.96. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Aman Joshi sold 4,658 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total value of $91,855.76. Following the transaction, the insider directly owned 131,371 shares of the company's stock, valued at approximately $2,590,636.12. This represents a 3.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,513 shares of company stock worth $1,261,765 in the last 90 days. Insiders own 3.60% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Quarry LP bought a new stake in shares of Bloom Energy in the 4th quarter valued at approximately $35,000. Harbour Investments Inc. increased 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 acquiring an additional 1,512 shares during the last quarter. Banque Transatlantique SA increased 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 acquiring an additional 1,161 shares during the last quarter. NewEdge Advisors LLC increased 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 acquiring an additional 1,626 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of Bloom Energy in the 1st quarter valued at approximately $41,000. 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.