Bloom Energy (NYSE:BE) Stock Price Up 15.2% - What's Next?

Key Points

• Bloom Energy shares jumped 15.2%, trading as high as $119.64 and exchanging about 19.9 million shares — roughly 106% above average volume — after a prior close of $102.50.
• The company beat Q3 estimates with $0.15 EPS vs. $0.08 expected and revenue of $519.1M (+57.1% YoY vs. $425.2M est.), but valuation is rich (PE ~583) and analysts still expect full-year EPS of -0.23.
• Analyst sentiment is mixed (MarketBeat consensus: "Hold" with a $93.77 target below the current price), while insiders have been selling recently and institutions own about 77% of the stock.

Bloom Energy Corporation (NYSE:BE - Get Free Report) shot up 15.2% during mid-day trading on Thursday . The company traded as high as $119.64 and last traded at $118.11. 19,910,191 shares traded hands during trading, an increase of 106% from the average session volume of 9,657,631 shares. The stock had previously closed at $102.50.

Analyst Ratings Changes

A number of research firms have recently commented on BE. Jefferies Financial Group reaffirmed an "underperform" rating and issued a $53.00 price target on shares of Bloom Energy in a report on Friday, October 31st. Evercore ISI reiterated an "outperform" rating on shares of Bloom Energy in a report on Monday, October 13th. BMO Capital Markets set a $136.00 target price on shares of Bloom Energy in a research report on Wednesday, October 29th. Wedbush set a $39.00 price objective on Bloom Energy in a research report on Tuesday, November 25th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $123.00 target price on shares of Bloom Energy in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Bloom Energy has an average rating of "Hold" and a consensus target price of $93.77.

Bloom Energy Price Performance

The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. The firm has a 50 day moving average price of $106.17 and a 200 day moving average price of $60.89. The stock has a market capitalization of $27.93 billion, a PE ratio of 583.33, a price-to-earnings-growth ratio of 66.32 and a beta of 3.00.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.07. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The business had revenue of $519.05 million during the quarter, compared to analyst estimates of $425.18 million. During the same period in the prior year, the business posted ($0.01) earnings per share. The company's revenue was up 57.1% on a year-over-year basis. Research analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 1,583 shares of Bloom Energy stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $105.97, for a total value of $167,750.51. Following the transaction, the insider owned 221,633 shares of the company's stock, valued at $23,486,449.01. The trade was a 0.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Maciej Kurzymski sold 13,105 shares of the company's stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $144.09, for a total value of $1,888,299.45. Following the transaction, the insider directly owned 93,269 shares in the company, valued at $13,439,130.21. This represents a 12.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 119,589 shares of company stock valued at $16,439,742. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of Bloom Energy

Large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in Bloom Energy by 43.3% in the first quarter. Envestnet Asset Management Inc. now owns 24,965 shares of the company's stock valued at $491,000 after buying an additional 7,540 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Bloom Energy by 29.9% in the first quarter. Cetera Investment Advisers now owns 30,977 shares of the company's stock valued at $609,000 after acquiring an additional 7,135 shares in the last quarter. Bayforest Capital Ltd acquired a new position in shares of Bloom Energy during the first quarter worth about $2,055,000. Harbour Investments Inc. raised its holdings in Bloom Energy by 2,160.0% during the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock worth $31,000 after purchasing an additional 1,512 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Bloom Energy by 11.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,611 shares of the company's stock valued at $248,000 after purchasing an additional 1,273 shares in the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

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.

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