Bloom Energy (NYSE:BE) Trading 8.3% Higher – Time to Buy?

Bloom Energy Corporation (NYSE:BE)’s stock price traded up 8.3% during mid-day trading on Friday . The stock traded as high as $108.92 and last traded at $109.54. 6,973,054 shares traded hands during trading, a decline of 27% from the average session volume of 9,570,422 shares. The stock had previously closed at $101.14.

Analyst Upgrades and Downgrades

BE has been the subject of a number of research analyst reports. Hsbc Global Res raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 29th. Susquehanna boosted their price target on Bloom Energy to $157.00 and gave the company a “positive” rating in a research note on Wednesday, October 29th. Jefferies Financial Group reiterated an “underperform” rating and issued a $53.00 price objective on shares of Bloom Energy in a research report on Friday, October 31st. BMO Capital Markets set a $136.00 price objective on Bloom Energy in a report on Wednesday, October 29th. Finally, Evercore ISI restated an “outperform” rating on shares of Bloom Energy in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $93.57.

Bloom Energy Stock Performance

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 firm has a market capitalization of $25.91 billion, a price-to-earnings ratio of 561.89, a PEG ratio of 63.88 and a beta of 3.43. The stock has a fifty day moving average price of $104.18 and a 200-day moving average price of $58.25.

Bloom Energy (NYSE:BE) last announced 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 return on equity of 8.74% and a net margin of 0.84%.The business 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 firm earned ($0.01) EPS. Bloom Energy’s quarterly revenue was up 57.1% on a year-over-year basis. As a group, analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Bloom Energy

In other news, insider Maciej Kurzymski sold 13,105 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $144.09, for a total transaction of $1,888,299.45. Following the completion of the sale, the insider owned 93,269 shares of the company’s stock, valued at approximately $13,439,130.21. This trade represents a 12.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Satish Chitoori sold 2,085 shares of Bloom Energy stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $104.08, for a total transaction of $217,006.80. Following the completion of the transaction, the insider owned 229,880 shares of the company’s stock, valued at $23,925,910.40. This trade represents a 0.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 119,589 shares of company stock worth $16,439,742 over the last ninety days. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Graticule Asia Macro Advisors LLC acquired a new position in Bloom Energy in the third quarter worth $402,494,000. Trivest Advisors Ltd raised its holdings in shares of Bloom Energy by 1,461.6% in the third quarter. Trivest Advisors Ltd now owns 3,420,000 shares of the company’s stock valued at $289,229,000 after buying an additional 3,201,000 shares during the last quarter. Norges Bank acquired a new position in Bloom Energy during the 2nd quarter worth about $57,821,000. Westfield Capital Management Co. LP acquired a new position in Bloom Energy during the 3rd quarter worth about $141,679,000. Finally, 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 worth $57,239,000 after acquiring an additional 1,530,167 shares during the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

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.