Bloom Energy Corporation (NYSE:BE) Receives $38.29 Consensus PT from Analysts

Shares of Bloom Energy Corporation (NYSE:BE) have earned an average rating of “Hold” from the twenty-two brokerages that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $43.8158.

A number of equities research analysts have recently commented on BE shares. Roth Capital upped their price objective on shares of Bloom Energy from $34.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, September 19th. Morgan Stanley upped their price objective on shares of Bloom Energy from $35.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Royal Bank Of Canada set a $75.00 price objective on shares of Bloom Energy in a research note on Tuesday. UBS Group reaffirmed an “underperform” rating on shares of Bloom Energy in a research note on Wednesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Bloom Energy from $40.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday.

Bloom Energy Trading Up 2.5%

Shares of NYSE BE opened at $90.18 on Thursday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99. Bloom Energy has a 52-week low of $9.02 and a 52-week high of $93.80. The firm has a 50 day moving average price of $56.53 and a two-hundred day moving average price of $33.28. The stock has a market cap of $21.10 billion, a P/E ratio of 2,254.99 and a beta of 3.48.

Bloom Energy (NYSE:BE) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.08. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The firm had revenue of $401.24 million during the quarter, compared to analysts’ expectations of $382.23 million. During the same period in the prior year, the company posted ($0.06) EPS. The company’s revenue was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Bloom Energy will post -0.23 EPS for the current year.

Insider Buying and Selling

In other news, CEO Kr Sridhar sold 37,955 shares of the company’s stock in a transaction on 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 sale, the chief executive officer directly 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 25,000 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $52.00, for a total transaction of $1,300,000.00. Following the transaction, the insider directly owned 225,949 shares in the company, valued at approximately $11,749,348. This represents a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 302,205 shares of company stock worth $14,919,283. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BE. GAMMA Investing LLC boosted its stake in 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. Parallel Advisors LLC boosted its stake in Bloom Energy by 241.2% during the first quarter. Parallel Advisors LLC now owns 7,626 shares of the company’s stock worth $150,000 after acquiring an additional 5,391 shares in the last quarter. Rhumbline Advisers boosted its stake in 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. Chesley Taft & Associates LLC boosted its stake in Bloom Energy by 27.7% during the first quarter. Chesley Taft & Associates LLC now owns 12,956 shares of the company’s stock worth $255,000 after acquiring an additional 2,807 shares in the last quarter. Finally, MRA Advisory Group bought a new position in Bloom Energy during the first quarter worth $374,000. 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.