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

Key Points

• Bloom Energy (NYSE:BE) reached a new 52-week high of $71.34 with a trading volume of 466,382 shares.
• Analysts have upgraded Bloom Energy's price targets significantly, with Robert W. Baird raising it from $45.00 to $61.00, and UBS increasing theirs from $29.00 to $41.00.
• The company reported a net margin of 1.45% and revenue of $401.24 million for the last quarter, surpassing analyst expectations.

Bloom Energy Corporation (NYSE:BE - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $71.34 and last traded at $71.34, with a volume of 466382 shares. The stock had previously closed at $67.02.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BE shares. Wells Fargo & Company boosted their price objective on shares of Bloom Energy from $38.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Friday, September 12th. UBS Group boosted their price objective on shares of Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. upgraded shares of Bloom Energy from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $18.00 to $33.00 in a research note on Wednesday, July 9th. Robert W. Baird boosted their target price on shares of Bloom Energy from $45.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, September 4th. Finally, Roth Capital boosted their target price on shares of Bloom Energy from $34.00 to $73.00 and gave the stock a "neutral" rating in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $32.13.

Bloom Energy Trading Up 5.1%

The company's fifty day moving average price is $45.97 and its two-hundred day moving average price is $29.35. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. The firm has a market cap of $19.91 billion, a P/E ratio of 2,128.03 and a beta of 3.28.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.08. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The firm had revenue of $401.24 million for the quarter, compared to analyst estimates of $382.23 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The company's revenue was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Activity at Bloom Energy

In related news, CEO Kr Sridhar sold 60,000 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $49.70, for a total value of $2,982,000.00. Following the sale, the chief executive officer directly owned 2,368,951 shares in the company, valued at $117,736,864.70. This trade represents a 2.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shawn Marie Soderberg sold 45,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $43.31, for a total transaction of $1,948,950.00. Following the completion of the sale, the insider owned 229,682 shares in the company, valued at $9,947,527.42. This represents a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 302,205 shares of company stock worth $14,919,283. Insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On Bloom Energy

A number of institutional investors have recently added to or reduced their stakes in the company. Prospera Financial Services Inc increased its holdings in Bloom Energy by 0.3% during the second quarter. Prospera Financial Services Inc now owns 95,532 shares of the company's stock worth $2,285,000 after buying an additional 313 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in Bloom Energy by 2.1% during the second quarter. Ameritas Investment Partners Inc. now owns 20,917 shares of the company's stock worth $500,000 after buying an additional 425 shares during the last quarter. Blair William & Co. IL increased its holdings in Bloom Energy by 2.8% during the second quarter. Blair William & Co. IL now owns 16,246 shares of the company's stock worth $389,000 after buying an additional 437 shares during the last quarter. CWM LLC increased its holdings in Bloom Energy by 23.7% during the first quarter. CWM LLC now owns 3,360 shares of the company's stock worth $66,000 after buying an additional 644 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in Bloom Energy by 2.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 26,949 shares of the company's stock worth $645,000 after buying an additional 658 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.