Bloom Energy (NYSE:BE) Sees Large Volume Increase – Still a Buy?

Shares of Bloom Energy Corporation (NYSE:BE) saw an uptick in trading volume on Friday . 14,444,819 shares changed hands during trading, an increase of 55% from the previous session’s volume of 9,347,603 shares.The stock last traded at $79.1550 and had previously closed at $93.38.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bloom Energy in a research report on Thursday, October 30th. Cowen restated a “hold” rating on shares of Bloom Energy in a research note on Wednesday, October 29th. Roth Capital reaffirmed a “neutral” rating and issued a $103.00 price objective on shares of Bloom Energy in a research report on Wednesday, October 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $123.00 target price on shares of Bloom Energy in a report on Monday, October 20th. Finally, HSBC raised Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $95.65.

Bloom Energy Stock Performance

The stock has a 50 day simple moving average of $101.90 and a 200 day simple moving average of $55.49. The stock has a market cap of $20.48 billion, a P/E ratio of 605.17, a price-to-earnings-growth ratio of 61.38 and a beta of 3.43. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The firm had revenue of $508.69 million for the quarter, compared to the consensus estimate of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The business’s revenue for the quarter was up 57.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) earnings per share. On average, equities analysts expect 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 13,105 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $144.09, for a total value of $1,888,299.45. Following the completion of the transaction, the insider owned 93,269 shares of the company’s stock, valued at $13,439,130.21. This represents a 12.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jim H. Snabe sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $143.04, for a total transaction of $2,860,800.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 341,544 shares of company stock valued at $27,784,169. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Fifth Third Bancorp bought a new position in Bloom Energy in the 3rd quarter valued at about $32,000. N.E.W. Advisory Services LLC bought a new position in Bloom Energy during the third quarter valued at about $32,000. Parkside Financial Bank & Trust increased its stake in shares of Bloom Energy by 250.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock worth $33,000 after purchasing an additional 281 shares during the last quarter. Cranbrook Wealth Management LLC purchased a new position in shares of Bloom Energy during the 3rd quarter valued at $39,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Bloom Energy during the third quarter worth about $42,000. Institutional investors own 77.04% of the company’s stock.

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.