Bloom Energy (NYSE:BE) Trading 5.1% Higher After Analyst Upgrade

Key Points

• Bloom Energy's stock price rose by 5.1% after Roth Capital increased its price target from $34.00 to $73.00, indicating stronger market confidence.
• Insider selling has occurred recently, with notable transactions that resulted in a total sale of 302,205 shares worth approximately $14.9 million over the past three months.
• Several brokerages have raised their target prices for Bloom Energy, reflecting a mostly positive outlook, with a consensus rating of "Moderate Buy" and an average target price of $32.13.

Bloom Energy Corporation (NYSE:BE - Get Free Report)'s share price rose 5.1% during mid-day trading on Friday after Roth Capital raised their price target on the stock from $34.00 to $73.00. Roth Capital currently has a neutral rating on the stock. Bloom Energy traded as high as $85.40 and last traded at $85.10. Approximately 16,552,448 shares traded hands during trading, an increase of 110% from the average daily volume of 7,889,531 shares. The stock had previously closed at $80.97.

A number of other equities research analysts have also weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Bloom Energy from $38.00 to $65.00 and gave the company an "equal weight" rating in a report on Friday, September 12th. Morgan Stanley raised their price objective on shares of Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Mizuho raised their price objective on shares of Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Susquehanna raised their price objective on shares of Bloom Energy from $26.00 to $30.00 and gave the company a "positive" rating in a report on Monday, July 21st. Finally, UBS Group raised their price objective on shares of Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a report on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $32.13.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 45,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $43.31, for a total transaction of $1,948,950.00. Following the transaction, the insider directly owned 229,682 shares of the company's stock, valued at approximately $9,947,527.42. This trade represents a 16.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Aman Joshi sold 4,870 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $43.36, for a total transaction of $211,163.20. Following the transaction, the insider directly owned 224,361 shares in the company, valued at $9,728,292.96. The trade was a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 302,205 shares of company stock worth $14,919,283. Insiders own 3.50% of the company's stock.

Institutional Trading of Bloom Energy

Several hedge funds and other institutional investors have recently made changes to their positions in BE. Norges Bank purchased a new stake in shares of Bloom Energy in the second quarter valued at about $57,821,000. Man Group plc boosted its holdings in shares of Bloom Energy by 177.4% in the second quarter. Man Group plc now owns 2,392,915 shares of the company's stock valued at $57,239,000 after acquiring an additional 1,530,167 shares in the last quarter. Tree Line Advisors Hong Kong Ltd. purchased a new stake in shares of Bloom Energy in the first quarter valued at about $22,609,000. Driehaus Capital Management LLC purchased a new stake in shares of Bloom Energy in the first quarter valued at about $21,066,000. Finally, Wellington Management Group LLP lifted its stake in shares of Bloom Energy by 306.3% in the fourth quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company's stock valued at $30,736,000 after purchasing an additional 1,043,326 shares during the period. Hedge funds and other institutional investors own 77.04% of the company's stock.

Bloom Energy Price Performance

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 company's 50 day moving average is $47.18 and its 200 day moving average is $29.88. The stock has a market cap of $20.23 billion, a price-to-earnings ratio of 772.09 and a beta of 3.28.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.10 EPS for the quarter, beating 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 last year, the business earned ($0.06) earnings per share. The business's revenue for the quarter was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. Research analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share 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.