Evercore ISI Initiates Coverage on Bloom Energy (NYSE:BE)

Key Points

• Bloom Energy has been upgraded to a "strong-buy" rating by Evercore ISI, indicating growing confidence in the company’s performance.
• Multiple analysts, including Zacks Research and JPMorgan Chase, have raised their price targets for Bloom Energy to as high as $90.00, reflecting optimism about its stock potential.
• The company's recent earnings report showed a significant revenue increase of 19.5% compared to the previous year, with an EPS of $0.10, surpassing estimates.

Research analysts at Evercore ISI initiated coverage on shares of Bloom Energy (NYSE:BE - Get Free Report) in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage set an "outperform" rating on the stock.

Other equities analysts have also issued research reports about the stock. BTIG Research lifted their price target on shares of Bloom Energy from $42.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, September 29th. Susquehanna lifted their price target 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. JPMorgan Chase & Co. lifted their price target on shares of Bloom Energy from $40.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, October 2nd. Wells Fargo & Company lifted their price target on shares of Bloom Energy from $38.00 to $65.00 and gave the stock an "equal weight" rating in a report on Friday, September 12th. Finally, Jefferies Financial Group downgraded shares of Bloom Energy from a "hold" rating to an "underperform" rating and lifted their target price for the stock from $24.00 to $31.00 in a research note on Wednesday, September 24th. Four investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $46.63.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $86.00 on Monday. Bloom Energy has a fifty-two week low of $9.02 and a fifty-two week high of $95.69. 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 $20.12 billion, a P/E ratio of 2,150.51 and a beta of 3.48. The company's 50 day moving average price is $58.60 and its two-hundred day moving average price is $34.14.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.08. The company had revenue of $401.24 million for the quarter, compared to analyst estimates of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. Bloom Energy's revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) earnings per share. Bloom Energy has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Bloom Energy will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Satish Chitoori sold 400 shares of the firm's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $71.16, for a total value of $28,464.00. Following the completion of the sale, the insider directly owned 231,965 shares in the company, valued at $16,506,629.40. This trade represents a 0.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Kr Sridhar sold 37,955 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $53.39, for a total value of $2,026,417.45. Following the completion of the sale, the chief executive officer owned 2,378,663 shares of the company's stock, valued at approximately $126,996,817.57. This represents a 1.57% 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 90 days. 3.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently made changes to their positions in BE. GAMMA Investing LLC increased its position in shares of Bloom Energy by 2,149.6% during the first quarter. GAMMA Investing LLC now owns 60,513 shares of the company's stock worth $1,190,000 after acquiring an additional 57,823 shares in the last quarter. Rhumbline Advisers increased its position in shares of Bloom Energy by 2.8% during the first quarter. Rhumbline Advisers now owns 298,283 shares of the company's stock worth $5,864,000 after acquiring an additional 8,212 shares in the last quarter. M.E. Allison & CO. Inc. increased its position in shares of Bloom Energy by 59.3% during the first quarter. M.E. Allison & CO. Inc. now owns 51,030 shares of the company's stock worth $1,003,000 after acquiring an additional 19,000 shares in the last quarter. Mezzasalma Advisors LLC increased its position in shares of Bloom Energy by 113.2% during the first quarter. Mezzasalma Advisors LLC now owns 33,139 shares of the company's stock worth $652,000 after acquiring an additional 17,598 shares in the last quarter. Finally, Lumbard & Kellner LLC increased its position in shares of Bloom Energy by 1.0% during the first quarter. Lumbard & Kellner LLC now owns 348,802 shares of the company's stock worth $6,857,000 after acquiring an additional 3,430 shares in the last quarter. 77.04% of the stock is owned by 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.