Bloom Energy (NYSE:BE) Trading Up 4.7% on Analyst Upgrade

Key Points

• Bloom Energy's stock (NYSE:BE) surged 4.7% following an upgrade from UBS Group, which raised its price target for the stock from $29.00 to $41.00.
• Various analysts have varied opinions on Bloom Energy, with ten buy ratings, two strong buy ratings, and some sell and hold ratings, leading to an average price target of $24.97.
• Recent insider trading shows CEO Kr Sridhar sold 42,383 shares, indicating a potential decrease in confidence in the stock amidst a broader trend of insider selling.
• The company reported a 38.5% increase in revenue year-over-year, with quarterly earnings exceeding analyst expectations despite a modest net margin.

Bloom Energy Corporation (NYSE:BE - Get Free Report) shares were up 4.7% on Friday after UBS Group raised their price target on the stock from $29.00 to $41.00. UBS Group currently has a buy rating on the stock. Bloom Energy traded as high as $34.65 and last traded at $34.63. Approximately 6,037,514 shares traded hands during trading, a decline of 10% from the average daily volume of 6,684,452 shares. The stock had previously closed at $33.06.

BE has been the topic of a number of other reports. HSBC raised shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price objective on the stock in a research report on Tuesday, April 8th. Roth Capital lifted their target price on shares of Bloom Energy from $20.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday. Morgan Stanley lowered their target price on shares of Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Jefferies Financial Group reduced their price objective on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Finally, Robert W. Baird cut their target price on shares of Bloom Energy from $32.00 to $27.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.97.

Insider Activity

In other news, insider Shawn Marie Soderberg sold 2,780 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total value of $54,821.60. Following the transaction, the insider directly owned 152,890 shares in the company, valued at approximately $3,014,990.80. This trade represents a 1.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kr Sridhar sold 42,383 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total transaction of $811,210.62. Following the completion of the sale, the chief executive officer directly owned 2,724,613 shares in the company, valued at approximately $52,149,092.82. This trade represents a 1.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,513 shares of company stock worth $1,261,765 over the last ninety days. Insiders own 3.60% of the company's stock.

Institutional Trading of Bloom Energy

A number of large investors have recently modified their holdings of the company. Banque Transatlantique SA increased its stake in Bloom Energy by 227.6% during the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock valued at $30,000 after buying an additional 1,161 shares during the period. Harbour Investments Inc. grew its stake in shares of Bloom Energy by 2,160.0% in the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock worth $31,000 after purchasing an additional 1,512 shares during the last quarter. Quarry LP acquired a new position in shares of Bloom Energy in the 4th quarter worth approximately $35,000. NewEdge Advisors LLC grew its stake in shares of Bloom Energy by 674.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company's stock worth $37,000 after purchasing an additional 1,626 shares during the last quarter. Finally, Vision Financial Markets LLC acquired a new position in shares of Bloom Energy in the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 77.04% of the company's stock.

Bloom Energy Price Performance

The company's 50 day moving average price is $22.50 and its 200-day moving average price is $21.97. The company has a market cap of $7.87 billion, a price-to-earnings ratio of -678.06 and a beta of 3.22. The company has a debt-to-equity ratio of 2.07, a quick ratio of 2.39 and a current ratio of 3.44.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.10. The business had revenue of $326.02 million during the quarter, compared to analysts' expectations of $294.27 million. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The firm's quarterly revenue was up 38.5% compared to the same quarter last year. During the same period last year, the company posted ($0.17) earnings per share. On average, equities research analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

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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