Bloom Energy (NYSE:BE) Shares Up 26.6% Following Analyst Upgrade

Key Points

• Bloom Energy's shares surged 26.6% after an analyst upgrade by Susquehanna, raising the price target from $43.00 to $105.00.
• Insider trading activity included significant sales, with insiders selling over 302,205 shares valued at nearly $15 million in the past ninety days.
• Bloom Energy maintains a consensus rating of "Hold" with a current average price target of $54.13, despite varying ratings and price targets from multiple analysts.

Bloom Energy Corporation (NYSE:BE - Get Free Report) shares traded up 26.6% during trading on Monday after Susquehanna raised their price target on the stock from $43.00 to $105.00. Susquehanna currently has a positive rating on the stock. Bloom Energy traded as high as $115.21 and last traded at $110.00. 28,658,047 shares changed hands during trading, an increase of 234% from the average session volume of 8,577,785 shares. The stock had previously closed at $86.87.

BE has been the topic of several other research reports. Mizuho lowered Bloom Energy from an "outperform" rating to a "neutral" rating and upped their price objective for the company from $48.00 to $79.00 in a research note on Thursday, October 2nd. Roth Capital raised their target price on Bloom Energy from $34.00 to $73.00 and gave the stock a "neutral" rating in a research report on Friday, September 19th. HSBC reissued a "hold" rating and issued a $100.00 price objective (up from $44.00) on shares of Bloom Energy in a research note on Thursday. Zacks Research raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, October 3rd. Finally, Robert W. Baird boosted their target price on Bloom Energy from $45.00 to $61.00 and gave the stock an "outperform" rating in a research note on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $54.13.

Insiders Place Their Bets

In other news, insider Aman Joshi sold 4,870 shares of Bloom Energy stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $43.36, for a total transaction of $211,163.20. Following the completion of the transaction, the insider directly owned 224,361 shares in the company, valued at approximately $9,728,292.96. This trade represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $52.00, for a total transaction of $1,300,000.00. Following the completion of the transaction, the insider owned 225,949 shares of the company's stock, valued at approximately $11,749,348. The trade was a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 302,205 shares of company stock valued at $14,919,283 over the last ninety days. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

Hedge funds have recently modified their holdings of the business. Banque Transatlantique SA grew its position in shares of 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 acquiring an additional 1,161 shares during the period. Harbour Investments Inc. lifted its stake in shares of 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 buying an additional 1,512 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Bloom Energy during the 2nd quarter valued at $36,000. NewEdge Advisors LLC lifted 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 worth $37,000 after purchasing an additional 1,626 shares in the last quarter. Finally, Vision Financial Markets LLC purchased a new stake in Bloom Energy in the 1st quarter worth $39,000. Institutional investors own 77.04% of the company's stock.

Bloom Energy Stock Performance

The firm has a market cap of $25.74 billion, a PE ratio of 2,750.59, a PEG ratio of 137.79 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 firm's 50 day simple moving average is $61.58 and its 200 day simple moving average is $35.58.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.02 by $0.08. The business had revenue of $401.24 million for the quarter, compared to analysts' expectations of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The business's quarterly revenue was up 19.5% compared to the same quarter last year. 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, research analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

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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