Bloom Energy (NYSE:BE) Trading 4% Higher Following Analyst Upgrade

Key Points

• Bloom Energy's stock jumped 4% after BMO Capital Markets raised its price target from $33.00 to $97.00, currently maintaining a market perform rating.
• Insiders have recently sold significant amounts of stock, with total sales surpassing $14.9 million in the last three months, while institutional investors own approximately 77.04% of the company.
• Bloom Energy reported better-than-expected earnings for the last quarter, with a revenue increase of 19.5% year over year, and set its FY 2025 guidance indicating expected losses.

Shares of Bloom Energy Corporation (NYSE:BE - Get Free Report) traded up 4% during trading on Tuesday after BMO Capital Markets raised their price target on the stock from $33.00 to $97.00. BMO Capital Markets currently has a market perform rating on the stock. Bloom Energy traded as high as $116.88 and last traded at $114.30. 14,020,013 shares traded hands during trading, an increase of 63% from the average session volume of 8,607,614 shares. The stock had previously closed at $109.91.

Other equities research analysts have also issued research reports about the stock. Hsbc Global Res lowered shares of Bloom Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 9th. JPMorgan Chase & Co. lifted their price objective on shares of Bloom Energy from $40.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, October 2nd. Weiss Ratings reiterated a "hold (c-)" rating on shares of Bloom Energy in a report on Wednesday, October 8th. Morgan Stanley lifted 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. Finally, Wells Fargo & Company boosted their price target 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. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Bloom Energy has an average rating of "Hold" and a consensus target price of $61.70.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Maciej Kurzymski sold 2,474 shares of the company's 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 transaction, the insider owned 106,374 shares in the company, valued at approximately $7,496,175.78. This represents a 2.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 45,000 shares of the company's stock in a transaction that occurred 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 owned 229,682 shares in the company, valued at $9,947,527.42. The trade was a 16.38% 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 worth $14,919,283 in the last three months. 3.50% of the stock is owned by company insiders.

Institutional Trading of Bloom Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of Bloom Energy by 2.1% during 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 during the last quarter. Public Investment Fund raised its holdings in shares of Bloom Energy by 16.8% during 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 during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Bloom Energy by 29.5% during 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 during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Bloom Energy by 50.3% during 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 during the last quarter. Finally, Norges Bank purchased a new position in shares of Bloom Energy during the second quarter worth $57,821,000. Institutional investors and hedge funds own 77.04% of the company's stock.

Bloom Energy Trading Up 4.0%

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 fifty day moving average is $63.06 and its 200-day moving average is $36.20. The stock has a market cap of $26.75 billion, a PE ratio of 2,858.11, a PEG ratio of 137.79 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 earnings per share (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 quarter last year, the company posted ($0.06) earnings per share. The firm's revenue was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. On average, analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

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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