Bloom Energy (NYSE:BE) Stock Price Up 8.7% - Time to Buy?

Key Points

• Bloom Energy's stock price rose by 8.7% during mid-day trading, reaching a high of $111.37 and closing at $110.29, with trading volume up 19% compared to its daily average.
• Several brokerages have issued varying ratings on the stock, with target prices ranging from $31.00 to $115.00 and a consensus rating of "Hold" with an average price target of $65.70.
• The company reported a revenue of $401.24 million for the last quarter, surpassing estimates, and had a return on equity of 6.80%, indicating strong financial performance compared to the previous year.

Bloom Energy Corporation (NYSE:BE - Get Free Report)'s stock price rose 8.7% during mid-day trading on Friday . The stock traded as high as $111.37 and last traded at $110.29. Approximately 10,365,779 shares traded hands during mid-day trading, an increase of 19% from the average daily volume of 8,728,264 shares. The stock had previously closed at $101.42.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BE. Jefferies Financial Group lowered Bloom Energy from a "hold" rating to an "underperform" rating and increased their target price for the stock from $24.00 to $31.00 in a research note on Wednesday, September 24th. UBS Group increased their target price on Bloom Energy to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, October 14th. Mizuho lowered Bloom Energy from an "outperform" rating to a "neutral" rating and increased their target price for the stock from $48.00 to $79.00 in a research note on Thursday, October 2nd. BTIG Research increased their target price on Bloom Energy from $42.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, September 29th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Bloom Energy in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $65.70.

Bloom Energy Stock Performance

The company has a 50-day moving average price of $74.04 and a two-hundred day moving average price of $40.89. 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 stock has a market capitalization of $25.81 billion, a P/E ratio of 2,757.94, a price-to-earnings-growth ratio of 149.69 and a beta of 3.48.

Bloom Energy (NYSE:BE - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.02 by $0.08. The company had revenue of $401.24 million during the quarter, compared to the consensus estimate of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The firm's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the business posted ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Satish Chitoori sold 400 shares of the company's stock in a transaction 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 transaction, the insider owned 231,965 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through the SEC website. Also, insider Aman Joshi sold 4,870 shares of the company'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 completion of the transaction, the insider directly owned 224,361 shares in the company, valued at approximately $9,728,292.96. The trade was a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 301,193 shares of company stock worth $14,893,710 in the last three months. Insiders own 3.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BE. MGO One Seven LLC purchased a new stake in shares of Bloom Energy during the third quarter worth about $264,000. Reliant Investment Management LLC bought a new stake in Bloom Energy in the 3rd quarter worth approximately $209,000. Forum Financial Management LP bought a new stake in Bloom Energy in the 3rd quarter worth approximately $475,000. ORG Partners LLC bought a new stake in shares of Bloom Energy during the 3rd quarter valued at $49,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Bloom Energy during the 3rd quarter valued at $233,000. 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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