Bloom Energy (NYSE:BE) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America analyst upgraded Bloom Energy's price target from $21.00 to $24.00, despite maintaining an "underperform" rating on the stock, indicating a potential downside of 72.24% from its current price.
• Other analysts have varied opinions, with Robert W. Baird setting a price target of $61.00 and UBS Group raising it to $41.00, contributing to a consensus rating of "Moderate Buy" with a target price of $32.45.
• Bloom Energy reported a revenue increase of 19.5% year-over-year for its last quarter, alongside earnings per share of $0.10, surpassing estimates, signaling a positive financial trend.

Bloom Energy (NYSE:BE - Get Free Report) had its price objective raised by equities researchers at Bank of America from $21.00 to $24.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "underperform" rating on the stock. Bank of America's price target would indicate a potential downside of 72.24% from the stock's current price.

BE has been the topic of several other reports. Robert W. Baird raised their price objective 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. JPMorgan Chase & Co. raised shares of Bloom Energy from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $18.00 to $33.00 in a research report on Wednesday, July 9th. UBS Group raised their price objective on shares of Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Wells Fargo & Company raised 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 report on Friday, September 12th. Finally, Roth Capital lifted their target price on shares of Bloom Energy from $34.00 to $73.00 and gave the company a "neutral" rating in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Bloom Energy has a consensus rating of "Moderate Buy" and a consensus target price of $32.45.

Bloom Energy Price Performance

Shares of NYSE:BE opened at $86.46 on Tuesday. Bloom Energy has a 12 month low of $9.02 and a 12 month high of $86.89. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21. The firm has a market capitalization of $20.23 billion, a P/E ratio of 2,162.04 and a beta of 3.28. The company's fifty day moving average price is $47.18 and its 200 day moving average price is $29.88.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.08. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The company had revenue of $401.24 million for the quarter, compared to the consensus estimate of $382.23 million. During the same period last year, the firm posted ($0.06) EPS. Bloom Energy'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, sell-side analysts predict that Bloom Energy will post -0.23 earnings per share for the current fiscal year.

Insider Transactions at Bloom Energy

In related news, insider Satish Chitoori sold 400 shares of the firm's 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 owned 231,965 shares in the company, valued at $16,506,629.40. This trade represents a 0.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Maciej Kurzymski sold 2,474 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $70.47, for a total transaction of $174,342.78. Following the completion of the sale, the insider owned 106,374 shares of the company's stock, valued at $7,496,175.78. This trade represents a 2.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 302,205 shares of company stock valued at $14,919,283. 3.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BE. Norges Bank acquired a new position in Bloom Energy during the second quarter worth about $57,821,000. Man Group plc raised its position in Bloom Energy by 177.4% during the second quarter. Man Group plc now owns 2,392,915 shares of the company's stock worth $57,239,000 after acquiring an additional 1,530,167 shares during the last quarter. Tree Line Advisors Hong Kong Ltd. acquired a new position in Bloom Energy during the first quarter worth about $22,609,000. Driehaus Capital Management LLC acquired a new position in Bloom Energy during the first quarter worth about $21,066,000. Finally, Wellington Management Group LLP raised its position in Bloom Energy by 306.3% during the fourth quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company's stock worth $30,736,000 after acquiring an additional 1,043,326 shares during the last quarter. Institutional investors and hedge funds 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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