Bloom Energy (NYSE:BE) Stock Price Up 2.4% - Should You Buy?

Key Points

• Bloom Energy's stock price increased by 2.4% to a last traded price of $70.31, with a significant trading volume of approximately 9.33 million shares.
• Analysts have raised their price targets for Bloom Energy, with Mizuho setting it at $31.00 and Wells Fargo at $65.00, reflecting a general consensus rating of "Moderate Buy".
• Bloom Energy reported strong earnings, exceeding expectations with $0.10 earnings per share for the last quarter, and a revenue increase of 19.5% year-over-year.

Bloom Energy Corporation (NYSE:BE - Get Free Report)'s share price was up 2.4% on Friday . The stock traded as high as $71.46 and last traded at $70.31. Approximately 9,331,259 shares were traded during trading, an increase of 14% from the average daily volume of 8,184,583 shares. The stock had previously closed at $68.69.

Analyst Ratings Changes

Several research firms have issued reports on BE. Mizuho lifted their price target on shares of Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Bank of America lifted their price target on shares of Bloom Energy from $21.00 to $24.00 and gave the stock an "underperform" rating in a report on Tuesday. Robert W. Baird lifted their price target on shares of Bloom Energy from $45.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Wells Fargo & Company lifted their price target on shares of Bloom Energy from $38.00 to $65.00 and gave the stock an "equal weight" rating in a report on Friday, September 12th. Finally, JPMorgan Chase & Co. raised shares of Bloom Energy from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $18.00 to $33.00 in a report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Bloom Energy has a consensus rating of "Moderate Buy" and an average price target of $33.08.

Bloom Energy Stock Up 2.4%

The stock has a market capitalization of $16.45 billion, a price-to-earnings ratio of 1,758.19 and a beta of 3.28. The firm's fifty day moving average is $50.00 and its 200-day moving average is $30.80. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21.

Bloom Energy (NYSE:BE - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.08. The company 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 firm's revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.06) earnings per share. Bloom Energy has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Activity at Bloom Energy

In other news, insider Satish Chitoori sold 400 shares of the stock in a transaction that occurred on 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 $16,506,629.40. This represents 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, insider Maciej Kurzymski sold 2,474 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $70.47, for a total value of $174,342.78. Following the completion of the transaction, the insider owned 106,374 shares in the company, valued at $7,496,175.78. This represents a 2.27% decrease in their position. 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 3.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. grew its position in shares of Bloom Energy by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company's stock valued at $1,704,000 after purchasing an additional 26,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Bloom Energy by 634.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company's stock worth $11,763,000 after purchasing an additional 516,833 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Bloom Energy by 662.4% during the 1st quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company's stock worth $1,445,000 after purchasing an additional 63,875 shares in the last quarter. Comerica Bank boosted its stake in shares of Bloom Energy by 5.8% during the first quarter. Comerica Bank now owns 88,554 shares of the company's stock valued at $1,741,000 after purchasing an additional 4,885 shares in the last quarter. Finally, Torray Investment Partners LLC bought a new position in shares of Bloom Energy during the first quarter worth about $904,000. 77.04% of the stock is owned by institutional investors.

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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