Bloom Energy (NYSE:BE) Shares Up 1.8% on Analyst Upgrade

Key Points

• Bloom Energy's stock rose 1.8% after Roth Capital raised its price target from $34 to $73, maintaining a neutral rating.
• Multiple analysts have upgraded Bloom Energy, with Mizuho and JPMorgan Chase giving higher price targets of $31 and $33, respectively.
• The company's quarterly earnings report showed a revenue increase of 19.5% year-over-year, reporting $401.24 million compared to the expectation of $382.23 million.

Bloom Energy Corporation (NYSE:BE - Get Free Report)'s share price shot up 1.8% during trading on Monday after Bank of America raised their price target on the stock from $21.00 to $24.00. Bank of America currently has an underperform rating on the stock. Bloom Energy traded as high as $86.89 and last traded at $86.46. 10,882,166 shares were traded during mid-day trading, an increase of 38% from the average session volume of 7,907,843 shares. The stock had previously closed at $84.93.

A number of other equities research analysts also recently weighed in on BE. Roth Capital lifted 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. Wells Fargo & Company lifted their target price on Bloom Energy from $38.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Friday, September 12th. JPMorgan Chase & Co. raised Bloom Energy from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $18.00 to $33.00 in a research report on Wednesday, July 9th. UBS Group lifted their target price on Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Susquehanna lifted their target price on Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a research report on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $32.45.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Satish Chitoori sold 400 shares of Bloom Energy stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $71.16, for a total transaction of $28,464.00. Following 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 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, CEO Kr Sridhar sold 37,955 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $53.39, for a total value of $2,026,417.45. Following the completion of the transaction, the chief executive officer directly owned 2,378,663 shares in the company, valued at $126,996,817.57. The trade was a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 302,205 shares of company stock valued at $14,919,283. Corporate insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BE. Banque Transatlantique SA boosted its holdings in shares of Bloom Energy by 227.6% in the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock worth $30,000 after acquiring an additional 1,161 shares in the last quarter. Harbour Investments Inc. boosted its holdings in shares of Bloom Energy by 2,160.0% in the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock worth $31,000 after acquiring an additional 1,512 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Bloom Energy in the 2nd quarter worth approximately $36,000. NewEdge Advisors LLC boosted its holdings in shares of 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 acquiring an additional 1,626 shares in the last quarter. Finally, Vision Financial Markets LLC acquired a new position in shares of Bloom Energy in the 1st quarter worth approximately $39,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Stock Down 7.8%

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 has a fifty day moving average price of $47.18 and a 200 day moving average price of $29.88. The firm has a market capitalization of $18.61 billion, a price-to-earnings ratio of 1,988.50 and a beta of 3.28.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.10 earnings per share 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 firm had revenue of $401.24 million during the quarter, compared to analysts' expectations of $382.23 million. During the same quarter in the previous year, the company posted ($0.06) EPS. Bloom Energy's revenue was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

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.