Bloom Energy (NYSE:BE) Shares Up 1.9% - Here's Why

Key Points

• Bloom Energy's stock increased by 1.9% during trading, reaching a last traded value of $87.67, while trading volume decreased by 6% from the average session.
• Recent analyst upgrades have significantly raised the price targets for Bloom Energy, with some analysts estimating prices as high as $100.00.
• Insiders have sold a total of 302,205 shares of Bloom Energy stock over the last quarter, indicating a decrease in their ownership levels.

Shares of Bloom Energy Corporation (NYSE:BE - Get Free Report) shot up 1.9% during trading on Wednesday . The stock traded as high as $90.00 and last traded at $87.67. 7,929,481 shares were traded during mid-day trading, a decline of 6% from the average session volume of 8,444,978 shares. The stock had previously closed at $86.06.

Analyst Ratings Changes

A number of brokerages recently commented on BE. Susquehanna lifted their price objective on Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a research report on Monday, July 21st. Evercore ISI began coverage on Bloom Energy in a research report on Monday. They issued an "outperform" rating and a $100.00 price objective for the company. Roth Capital lifted their price objective on Bloom Energy from $34.00 to $73.00 and gave the stock a "neutral" rating in a research report on Friday, September 19th. BTIG Research lifted their price objective on Bloom Energy from $42.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, September 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Bloom Energy from $40.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, Bloom Energy has a consensus rating of "Hold" and an average target price of $46.63.

Bloom Energy Price Performance

The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99. The business has a fifty day moving average of $58.60 and a two-hundred day moving average of $34.14. The firm has a market capitalization of $20.51 billion, a price-to-earnings ratio of 2,192.30 and a beta of 3.48.

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, beating analysts' consensus estimates of $0.02 by $0.08. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The firm had revenue of $401.24 million for the quarter, compared to analyst estimates of $382.23 million. During the same period in the prior year, the firm posted ($0.06) EPS. The company's revenue for the quarter was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. As a group, research analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 25,000 shares of the 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 completion of the transaction, the insider directly owned 225,949 shares in the company, valued at approximately $11,749,348. This trade represents a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Satish Chitoori sold 400 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $71.16, for a total value of $28,464.00. Following the completion of the sale, the insider directly owned 231,965 shares of the company's stock, valued at approximately $16,506,629.40. The trade was a 0.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold 302,205 shares of company stock worth $14,919,283 over the last quarter. 3.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BE. Banque Transatlantique SA boosted its position in shares of Bloom Energy by 227.6% during the first quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock valued at $30,000 after buying an additional 1,161 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of Bloom Energy by 2,160.0% during the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock valued at $31,000 after buying an additional 1,512 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Bloom Energy during the second quarter valued at approximately $36,000. NewEdge Advisors LLC increased its stake in 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 buying an additional 1,626 shares during the last quarter. Finally, Vision Financial Markets LLC purchased a new stake in Bloom Energy in the 1st quarter valued at about $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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