Bloom Energy (NYSE:BE) Trading 7.8% Higher – What’s Next?

by · The Markets Daily

Bloom Energy Corporation (NYSE:BE – Get Free Report) shares shot up 7.8% during trading on Thursday . The stock traded as high as $110.29 and last traded at $109.14. 9,103,530 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 9,689,701 shares. The stock had previously closed at $101.29.

Analyst Ratings Changes

BE has been the subject of a number of research analyst reports. Wedbush set a $39.00 target price on shares of Bloom Energy in a research report on Tuesday, November 25th. BMO Capital Markets set a $136.00 price objective on Bloom Energy in a research note on Wednesday, October 29th. Susquehanna increased their target price on Bloom Energy to $157.00 and gave the company a “positive” rating in a research note on Wednesday, October 29th. Mizuho set a $89.00 price target on shares of Bloom Energy in a report on Wednesday, October 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Bloom Energy in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $93.77.

View Our Latest Analysis on BE

Bloom Energy Trading Up 7.8%

The firm has a market cap of $25.81 billion, a P/E ratio of 608.00, a price-to-earnings-growth ratio of 69.12 and a beta of 3.00. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. The company’s fifty day moving average price is $109.61 and its two-hundred day moving average price is $64.15.

Bloom Energy (NYSE:BE – Get Free Report) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.07. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The company had revenue of $519.05 million during the quarter, compared to analyst estimates of $425.18 million. During the same quarter last year, the business posted ($0.01) earnings per share. The company’s revenue was up 57.1% on a year-over-year basis. As a group, sell-side analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Activity

In other news, insider Shawn Marie Soderberg sold 1,583 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $105.97, for a total transaction of $167,750.51. Following the sale, the insider owned 221,633 shares in the company, valued at approximately $23,486,449.01. This represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Aman Joshi sold 4,543 shares of Bloom Energy stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $109.13, for a total value of $495,777.59. Following the completion of the transaction, the insider directly owned 219,818 shares of the company’s stock, valued at $23,988,738.34. This represents a 2.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 119,589 shares of company stock worth $16,439,742. 3.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp bought a new stake in shares of Bloom Energy during the third quarter valued at approximately $32,000. N.E.W. Advisory Services LLC bought a new stake in shares of Bloom Energy during the third quarter worth $32,000. Parkside Financial Bank & Trust lifted its stake in shares of Bloom Energy by 250.9% during the third quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock valued at $33,000 after acquiring an additional 281 shares during the period. Cranbrook Wealth Management LLC acquired a new position in shares of Bloom Energy during the third quarter valued at $39,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Bloom Energy in the third quarter valued at about $42,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

About Bloom Energy

(Get Free Report)

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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