Bloom Energy (NYSE:BE) Shares Gap Up - Here's Why

Key Points

• Bloom Energy's stock gapped up from a previous close of $114.06 to an opening price of $120.81 on Wednesday, with a trading volume of over 3 million shares.
• Several analysts have upgraded their price targets for Bloom Energy, with BMO Capital Markets raising it from $33.00 to $97.00, while JPMorgan Chase & Co. increased theirs from $40.00 to $90.00, indicating strong analyst support.
• The company reported a quarterly earnings per share of $0.10, surpassing expectations, with revenues up 19.5% year-over-year, contributing to a positive outlook for the future.

Bloom Energy Corporation (NYSE:BE - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $114.06, but opened at $120.81. Bloom Energy shares last traded at $120.66, with a volume of 3,077,344 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BE shares. BMO Capital Markets raised their price target on Bloom Energy from $33.00 to $97.00 and gave the stock a "market perform" rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price target on Bloom Energy from $40.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Susquehanna raised their price target on Bloom Energy from $43.00 to $105.00 and gave the stock a "positive" rating in a research report on Monday. Jefferies Financial Group cut Bloom Energy from a "hold" rating to an "underperform" rating and lifted their target price for the company from $24.00 to $31.00 in a research report on Wednesday, September 24th. Finally, Robert W. Baird lifted their target price on Bloom Energy from $45.00 to $61.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Bloom Energy currently has a consensus rating of "Hold" and an average price target of $61.70.

Bloom Energy Stock Up 4.9%

The stock has a market cap of $27.99 billion, a price-to-earnings ratio of 2,989.35, a P/E/G ratio of 174.34 and a beta of 3.48. 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 stock's 50-day moving average price is $64.60 and its 200-day moving average price is $36.75.

Bloom Energy (NYSE:BE - Get Free Report) last issued 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 firm had revenue of $401.24 million for the quarter, compared to the consensus estimate of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The company's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Activity at Bloom Energy

In related news, CEO Kr Sridhar sold 60,000 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $48.97, for a total transaction of $2,938,200.00. Following the transaction, the chief executive officer owned 2,324,613 shares in the company, valued at $113,836,298.61. The trade was a 2.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 45,000 shares of the business's stock in a transaction 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 transaction, the insider owned 229,682 shares in the company, valued at $9,947,527.42. The trade was a 16.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 301,193 shares of company stock worth $14,893,710 over the last ninety days. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of Bloom Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of BE. Banque Transatlantique SA increased its stake in Bloom Energy by 227.6% during 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 in the last quarter. Harbour Investments Inc. increased its stake in Bloom Energy by 2,160.0% during 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 in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Bloom Energy during the 2nd quarter valued at $36,000. NewEdge Advisors LLC increased its stake in Bloom Energy by 674.7% during 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 in the last quarter. Finally, Vision Financial Markets LLC bought a new stake in Bloom Energy during the 1st quarter valued at $39,000. 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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