Bloom Energy (NYSE:BE) Trading Up 4.7% - Should You Buy?

Key Points

• Bloom Energy's stock experienced a significant increase of 4.7%, trading between $75.55 and $73.66, with trading volume rising by 31% from its average.
• Several analysts have raised their price targets for Bloom Energy, with JPMorgan Chase & Co. setting a new target of $33.00 and BTIG Research increasing it to $80.00, reflecting strong positive sentiment.
• The company reported earnings of $0.10 per share, surpassing expectations, and achieved a 19.5% increase in quarterly revenue year-over-year, totaling $401.24 million.

Bloom Energy Corporation (NYSE:BE - Get Free Report)'s stock price was up 4.7% on Monday . The company traded as high as $75.55 and last traded at $73.66. Approximately 10,730,082 shares were traded during mid-day trading, an increase of 31% from the average daily volume of 8,198,298 shares. The stock had previously closed at $70.32.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BE shares. JPMorgan Chase & Co. raised shares of Bloom Energy from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $18.00 to $33.00 in a research report on Wednesday, July 9th. BTIG Research increased their price objective on shares of Bloom Energy from $42.00 to $80.00 and gave the company a "buy" rating in a research report on Monday. Bank of America increased their price objective on shares of Bloom Energy from $21.00 to $24.00 and gave the company an "underperform" rating in a research report on Tuesday, September 23rd. Wells Fargo & Company increased their price objective on shares of Bloom Energy from $38.00 to $65.00 and gave the company an "equal weight" rating in a research report on Friday, September 12th. Finally, Morgan Stanley increased their price objective on shares of Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $35.71.

Bloom Energy Stock Up 4.7%

The company's 50 day moving average price is $50.90 and its two-hundred day moving average price is $31.21. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. The stock has a market cap of $17.24 billion, a P/E ratio of 1,841.96 and a beta of 3.28.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $401.24 million for the quarter, compared to analysts' expectations of $382.23 million. During the same quarter in the prior year, the business earned ($0.06) EPS. The business's quarterly revenue was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. Equities analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Maciej Kurzymski sold 2,474 shares of the firm'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 sale, the insider owned 106,374 shares in the company, valued at approximately $7,496,175.78. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $52.00, for a total transaction of $1,300,000.00. Following the sale, the insider owned 225,949 shares in the company, valued at approximately $11,749,348. The trade was a 9.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 302,205 shares of company stock worth $14,919,283 in the last 90 days. Insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors have recently added to or reduced their stakes in BE. Norges Bank purchased a new stake in Bloom Energy during the 2nd quarter valued at approximately $57,821,000. Man Group plc grew its holdings in Bloom Energy by 177.4% during the 2nd quarter. Man Group plc now owns 2,392,915 shares of the company's stock valued at $57,239,000 after buying an additional 1,530,167 shares in the last quarter. Tree Line Advisors Hong Kong Ltd. purchased a new stake in Bloom Energy during the 1st quarter valued at approximately $22,609,000. Driehaus Capital Management LLC bought a new position in shares of Bloom Energy during the 1st quarter valued at approximately $21,066,000. Finally, Goldman Sachs Group Inc. grew its holdings 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 valued at $49,127,000 after purchasing an additional 836,810 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other 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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