Bloom Energy (NYSE:BE) Trading Up 2.5% Following Analyst Upgrade

Key Points

• Bloom Energy's stock rose 2.5% after JPMorgan Chase & Co. upgraded its price target from $40.00 to $90.00, reflecting strong investor confidence with an overweight rating.
• Insider trading activity has been noted, with a significant insider selling of 45,000 shares by Shawn Marie Soderberg at an average price of $43.31.
• Bloom Energy reported quarterly earnings that topped estimates, earning $0.10 per share and achieving a 19.5% year-over-year revenue increase to $401.24 million.

Bloom Energy Corporation (NYSE:BE - Get Free Report) shot up 2.5% during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $40.00 to $90.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Bloom Energy traded as high as $93.80 and last traded at $90.18. 12,141,519 shares changed hands during trading, an increase of 44% from the average session volume of 8,410,820 shares. The stock had previously closed at $88.00.

Several other research analysts have also recently issued reports on BE. Susquehanna raised their target price on shares of Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a report on Monday, July 21st. Roth Capital lifted their price objective on shares of Bloom Energy from $34.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, September 19th. Jefferies Financial Group cut shares of Bloom Energy from a "hold" rating to an "underperform" rating and lifted their price objective for the company from $24.00 to $31.00 in a report on Wednesday, September 24th. UBS Group reaffirmed an "underperform" rating on shares of Bloom Energy in a report on Wednesday. Finally, Mizuho cut shares of Bloom Energy from an "outperform" rating to a "neutral" rating and boosted their target price for the stock from $48.00 to $79.00 in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $43.82.

Insider Buying and Selling

In other Bloom Energy news, insider Shawn Marie Soderberg sold 45,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $43.31, for a total value of $1,948,950.00. Following the transaction, the insider directly owned 229,682 shares in the company, valued at $9,947,527.42. The trade was a 16.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 completion of the transaction, the insider owned 106,374 shares in the company, valued at $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. Insiders sold a total of 302,205 shares of company stock worth $14,919,283 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bloom Energy

A number of hedge funds have recently added to or reduced their stakes in the business. Prospera Financial Services Inc lifted its holdings in Bloom Energy by 0.3% during the 2nd quarter. Prospera Financial Services Inc now owns 95,532 shares of the company's stock worth $2,285,000 after buying an additional 313 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Bloom Energy by 14.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,708 shares of the company's stock valued at $229,000 after purchasing an additional 335 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Bloom Energy by 2.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 20,917 shares of the company's stock valued at $500,000 after purchasing an additional 425 shares during the last quarter. Blair William & Co. IL increased its position in shares of Bloom Energy by 2.8% in the 2nd quarter. Blair William & Co. IL now owns 16,246 shares of the company's stock valued at $389,000 after purchasing an additional 437 shares during the last quarter. Finally, CWM LLC increased its position in shares of Bloom Energy by 23.7% in the 1st quarter. CWM LLC now owns 3,360 shares of the company's stock valued at $66,000 after purchasing an additional 644 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Stock Performance

The stock's 50-day simple moving average is $55.41 and its 200 day simple moving average is $32.76. 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 company has a market capitalization of $21.10 billion, a PE ratio of 2,254.99 and a beta of 3.48.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates 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 in the prior year, the business earned ($0.06) EPS. Bloom Energy's quarterly revenue was up 19.5% compared to the same quarter last year. 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 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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