Bloom Energy (NYSE:BE) Trading 15.1% Higher - Still a Buy?

Key Points

• Bloom Energy shares surged 15.1% to reach a trading price of $84.70, significantly above its previous close of $73.60, with trading volumes up by 202%.
• Analysts have raised their price targets for Bloom Energy, with UBS Group increasing theirs from $29.00 to $41.00, while BTIG Research raised theirs from $42.00 to $80.00, indicating a bullish outlook.
• The company reported a 19.5% year-over-year revenue increase, reaching $401.24 million, and surpassed earnings expectations with an EPS of $0.10, exceeding analyst estimates of $0.02.

Shares of Bloom Energy Corporation (NYSE:BE - Get Free Report) traded up 15.1% during trading on Tuesday . The stock traded as high as $85.67 and last traded at $84.70. 24,999,534 shares traded hands during trading, an increase of 202% from the average session volume of 8,286,971 shares. The stock had previously closed at $73.60.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. UBS Group increased their target price 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. Mizuho raised 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. BTIG Research raised their price target on shares of Bloom Energy from $42.00 to $80.00 and gave the stock a "buy" rating in a report on Monday. Wells Fargo & Company raised 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, Robert W. Baird raised 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. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.29.

Bloom Energy Stock Performance

The company's 50-day moving average price is $51.86 and its 200 day moving average price is $31.55. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99. The stock has a market capitalization of $19.82 billion, a PE ratio of 2,118.03 and a beta of 3.28.

Bloom Energy (NYSE:BE - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.10 EPS 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 period last year, the company posted ($0.06) EPS. The company's quarterly revenue was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Bloom Energy

In related news, insider Maciej Kurzymski sold 2,474 shares of the business's stock in a transaction dated 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 $7,496,175.78. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Aman Joshi sold 4,870 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $43.36, for a total transaction of $211,163.20. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 302,205 shares of company stock valued at $14,919,283 over the last three months. 3.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC bought a new stake in Bloom Energy in the second quarter worth $235,000. State of Wyoming bought a new stake in Bloom Energy in the second quarter worth $138,000. Castleark Management LLC purchased a new position in Bloom Energy in the second quarter worth about $177,000. FORA Capital LLC purchased a new position in Bloom Energy in the second quarter worth about $510,000. Finally, Tower Research Capital LLC TRC raised its holdings in Bloom Energy by 303.6% in the second quarter. Tower Research Capital LLC TRC now owns 29,266 shares of the company's stock worth $700,000 after buying an additional 22,015 shares during the last quarter. 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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