Bloom Energy (NYSE:BE) Trading 2.4% Higher - What's Next?

Key Points

• Bloom Energy shares traded up 2.4% to a last price of $116.75, with trading volume significantly increasing to 16.67 million shares, nearly double the average.
• Equity analysts have mixed views on Bloom Energy, with ratings ranging from Strong Buy to Sell, and an average price target of $61.70.
• The company reported a net margin of 1.45% and earnings of $0.10 per share, exceeding estimates, while revenue increased 19.5% year-over-year, reaching $401.24 million.

Bloom Energy Corporation (NYSE:BE - Get Free Report) shares traded up 2.4% on Wednesday . The company traded as high as $125.75 and last traded at $116.75. 16,674,603 shares changed hands during mid-day trading, an increase of 93% from the average session volume of 8,648,572 shares. The stock had previously closed at $114.06.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Hsbc Global Res cut shares of Bloom Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 9th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Bloom Energy in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 3rd. Roth Capital upped their target price on shares of Bloom Energy from $34.00 to $73.00 and gave the stock a "neutral" rating in a research note on Friday, September 19th. Finally, Morgan Stanley upped their target price on shares of Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $61.70.

Bloom Energy Stock Up 2.4%

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 firm has a market capitalization of $27.32 billion, a P/E ratio of 2,919.43, a P/E/G ratio of 174.34 and a beta of 3.48. The company's 50-day simple moving average is $64.60 and its two-hundred day simple moving average is $36.75.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share 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 business had revenue of $401.24 million for the quarter, compared to the consensus estimate of $382.23 million. During the same period last year, the firm earned ($0.06) earnings per share. The company's quarterly revenue was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. As a group, research analysts expect that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Maciej Kurzymski sold 2,474 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $70.47, for a total value of $174,342.78. Following the completion of the sale, the insider directly owned 106,374 shares of the company's stock, valued at $7,496,175.78. This represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 45,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $43.31, for a total transaction of $1,948,950.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 301,193 shares of company stock valued at $14,893,710. 3.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Bloom Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of Bloom Energy by 2.1% in the second quarter. Geode Capital Management LLC now owns 4,756,516 shares of the company's stock worth $113,790,000 after purchasing an additional 95,990 shares in the last quarter. Public Investment Fund increased its stake in shares of Bloom Energy by 16.8% in the first quarter. Public Investment Fund now owns 3,803,770 shares of the company's stock worth $74,782,000 after purchasing an additional 546,372 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Bloom Energy by 29.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company's stock worth $71,010,000 after purchasing an additional 821,814 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Bloom Energy by 50.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company's stock worth $49,127,000 after purchasing an additional 836,810 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Bloom Energy in the second quarter worth $57,821,000. 77.04% of the stock is 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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