Bloom Energy (NYSE:BE) Hits New 12-Month High – What’s Next?

Bloom Energy Corporation (NYSE:BE) reached a new 52-week high during trading on Monday . The stock traded as high as $147.86 and last traded at $144.4620, with a volume of 2705815 shares traded. The stock had previously closed at $135.21.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Bloom Energy to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Bank of America boosted their target price on Bloom Energy from $24.00 to $26.00 and gave the company an “underperform” rating in a research report on Monday, October 20th. UBS Group upped their target price on Bloom Energy to $115.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. HSBC raised shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Wednesday, October 29th. Finally, Morgan Stanley upped their price target on shares of Bloom Energy to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $95.65.

Bloom Energy Stock Up 2.7%

The business’s 50-day moving average is $91.63 and its two-hundred day moving average is $49.97. The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98. The stock has a market capitalization of $32.83 billion, a price-to-earnings ratio of 751.17, a price-to-earnings-growth ratio of 76.19 and a beta of 3.43.

Bloom Energy (NYSE:BE) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating 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 firm had revenue of $519.05 million for the quarter, compared to analyst estimates of $425.18 million. During the same quarter in the previous year, the company earned ($0.01) EPS. The business’s revenue for the quarter was up 57.1% compared to the same quarter last year. Equities analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Buying and Selling

In other Bloom Energy news, Director Mary K. Bush sold 36,000 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $142.82, for a total transaction of $5,141,520.00. Following the transaction, the director owned 133,524 shares of the company’s stock, valued at approximately $19,069,897.68. This trade represents a 21.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kr Sridhar sold 60,000 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $48.97, for a total transaction of $2,938,200.00. Following the sale, the chief executive officer owned 2,324,613 shares of the company’s stock, valued at approximately $113,836,298.61. This represents a 2.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 406,964 shares of company stock valued at $29,954,235 over the last ninety days. 3.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Bloom Energy by 6.3% in the 3rd quarter. Vanguard Group Inc. now owns 20,807,920 shares of the company’s stock valued at $1,759,726,000 after purchasing an additional 1,240,819 shares in the last quarter. Graticule Asia Macro Advisors LLC acquired a new position in shares of Bloom Energy in the 3rd quarter valued at about $402,494,000. Geode Capital Management LLC increased its position in Bloom Energy by 2.1% in the second quarter. Geode Capital Management LLC now owns 4,756,516 shares of the company’s stock worth $113,790,000 after buying an additional 95,990 shares during the period. Public Investment Fund increased its stake in shares of Bloom Energy by 16.8% in the first quarter. Public Investment Fund now owns 3,803,770 shares of the company’s stock valued at $74,782,000 after purchasing an additional 546,372 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its position in Bloom Energy by 29.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company’s stock worth $71,010,000 after acquiring an additional 821,814 shares during the period. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

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.