Bloom Energy (NYSE:BE) Stock Price Up 7.6% - What's Next?

Key Points

• Bloom Energy's stock surged by 7.6% to close at $101.56, following a period of active trading with over 8 million shares exchanged.
• Analysts have significantly raised their price targets for Bloom Energy, with estimates ranging as high as $123.00, while the current consensus rating remains at "Hold" with an average target of $65.70.
• The company reported earnings of $0.10 per share for the last quarter, exceeding expectations, and experienced a revenue increase of 19.5% year-over-year.

Bloom Energy Corporation (NYSE:BE - Get Free Report) rose 7.6% during trading on Thursday . The company traded as high as $103.81 and last traded at $101.56. Approximately 8,185,110 shares were traded during trading, a decline of 6% from the average daily volume of 8,717,805 shares. The stock had previously closed at $94.37.

Analysts Set New Price Targets

BE has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Bloom Energy from $40.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, October 2nd. Roth Capital raised their target price on shares of Bloom Energy from $34.00 to $73.00 and gave the company a "neutral" rating in a research report on Friday, September 19th. Royal Bank Of Canada reissued an "outperform" rating and set a $123.00 target price on shares of Bloom Energy in a research report on Monday. Zacks Research raised shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Finally, Robert W. Baird raised their price target on shares of Bloom Energy from $45.00 to $61.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $65.70.

Bloom Energy Stock Up 7.6%

The business's 50 day moving average is $72.92 and its 200 day moving average is $40.31. The company has a market capitalization of $23.76 billion, a price-to-earnings ratio of 2,539.61, a PEG ratio of 165.56 and a beta of 3.48. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99.

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 business had revenue of $401.24 million during the quarter, compared to analysts' expectations of $382.23 million. During the same period in the previous year, the business posted ($0.06) EPS. The business's quarterly revenue was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Buying and Selling 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 shares were sold at an average price of $71.16, for a total transaction of $28,464.00. Following the completion of the sale, the insider directly owned 231,965 shares in the company, valued at approximately $16,506,629.40. The trade was a 0.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Maciej Kurzymski sold 2,474 shares of Bloom Energy stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $70.47, for a total transaction of $174,342.78. Following the sale, the insider owned 106,374 shares of the company's stock, valued at approximately $7,496,175.78. The trade was a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 301,193 shares of company stock worth $14,893,710. Corporate insiders own 3.60% of the company's stock.

Institutional Trading of Bloom Energy

Several institutional investors and hedge funds have recently bought and sold shares of BE. Banque Transatlantique SA increased its holdings in shares of Bloom Energy by 227.6% during the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock valued at $30,000 after purchasing an additional 1,161 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Bloom Energy by 2,160.0% during the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock valued at $31,000 after purchasing an additional 1,512 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Bloom Energy during the 2nd quarter valued at approximately $36,000. NewEdge Advisors LLC increased its holdings in shares of Bloom Energy by 674.7% during the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company's stock valued at $37,000 after purchasing an additional 1,626 shares in the last quarter. Finally, Vision Financial Markets LLC purchased a new position in shares of Bloom Energy during the 1st quarter valued at approximately $39,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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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