Bloom Energy (NYSE:BE) Sets New 12-Month High - What's Next?

Bloom Energy Corporation (NYSE:BE - Get Free Report)'s share price reached a new 52-week high on Thursday . The company traded as high as $33.21 and last traded at $32.56, with a volume of 20410383 shares trading hands. The stock had previously closed at $26.89.

Analysts Set New Price Targets

BE has been the subject of a number of research analyst reports. HSBC upgraded Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price target for the company in a research report on Tuesday, April 8th. Piper Sandler cut their price target on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Jefferies Financial Group reduced their price objective on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Mizuho upped their price objective on Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Finally, UBS Group reaffirmed a "buy" rating on shares of Bloom Energy in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.53.

Bloom Energy Price Performance

The company has a 50 day moving average of $22.23 and a two-hundred day moving average of $21.91. The firm has a market cap of $7.69 billion, a P/E ratio of -662.07 and a beta of 3.22. The company has a quick ratio of 2.39, a current ratio of 3.44 and a debt-to-equity ratio of 2.07.

Bloom Energy (NYSE:BE - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.10. The business had revenue of $326.02 million during the quarter, compared to analyst estimates of $294.27 million. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The business's quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.17) earnings per share. Sell-side analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Buying and Selling at Bloom Energy

In related news, insider Maciej Kurzymski sold 1,012 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $25.27, for a total transaction of $25,573.24. Following the transaction, the insider directly owned 108,848 shares of the company's stock, valued at approximately $2,750,588.96. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Aman Joshi sold 4,658 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total transaction of $91,855.76. Following the completion of the transaction, the insider owned 131,371 shares in the company, valued at approximately $2,590,636.12. This represents a 3.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,513 shares of company stock valued at $1,261,765 over the last three months. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Bloom Energy

A number of large investors have recently bought and sold shares of the business. Sender Co & Partners Inc. acquired a new stake in shares of Bloom Energy in the fourth quarter valued at about $283,000. Select Equity Group L.P. increased its stake in Bloom Energy by 125.5% in the fourth quarter. Select Equity Group L.P. now owns 278,515 shares of the company's stock valued at $6,186,000 after acquiring an additional 154,993 shares during the period. SIR Capital Management L.P. raised its holdings in shares of Bloom Energy by 155.1% in the 4th quarter. SIR Capital Management L.P. now owns 572,798 shares of the company's stock worth $12,722,000 after buying an additional 348,279 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Bloom Energy by 662.4% during the first quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company's stock valued at $1,445,000 after acquiring an additional 63,875 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Bloom Energy during the fourth quarter worth about $19,629,000. 77.04% of the stock is currently owned by institutional investors.

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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