Bloom Energy (NYSE:BE) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Bloom Energy (NYSE:BE) had its price objective raised by JPMorgan Chase & Co. from $40.00 to $90.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts also recently commented on BE. Robert W. Baird boosted their price objective on shares of Bloom Energy from $45.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Morgan Stanley lifted their target price on shares of Bloom Energy from $35.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. BTIG Research lifted their target price on shares of Bloom Energy from $42.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday. Mizuho cut shares of Bloom Energy from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $48.00 to $79.00 in a research report on Thursday. Finally, Wells Fargo & Company lifted their target price on shares of Bloom Energy from $38.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.82.

Bloom Energy Stock Down 2.4%

Shares of NYSE:BE opened at $87.99 on Thursday. The company has a market cap of $20.59 billion, a price-to-earnings ratio of 2,200.30 and a beta of 3.48. The firm’s 50-day simple moving average is $55.41 and its 200-day simple moving average is $32.76. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. Bloom Energy has a fifty-two week low of $9.02 and a fifty-two week high of $92.16.

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

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $43.31, for a total value of $1,948,950.00. Following the completion of the transaction, the insider owned 229,682 shares of the company’s stock, valued at $9,947,527.42. The trade was a 16.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Satish Chitoori sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $45.00, for a total transaction of $900,000.00. Following the completion of the transaction, the insider directly owned 234,493 shares of the company’s stock, valued at approximately $10,552,185. This represents a 7.86% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 302,205 shares of company stock valued at $14,919,283. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bloom Energy

Institutional investors have recently modified their holdings of the company. Elevation Point Wealth Partners LLC acquired a new position in shares of Bloom Energy in the second quarter valued at approximately $36,000. Harbour Investments Inc. raised its position in shares of Bloom Energy by 2,160.0% in the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company’s stock valued at $31,000 after buying an additional 1,512 shares during the last quarter. Banque Transatlantique SA grew its holdings in Bloom Energy by 227.6% in the first quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock valued at $30,000 after purchasing an additional 1,161 shares during the period. NewEdge Advisors LLC grew its holdings in Bloom Energy by 674.7% in the first quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock valued at $37,000 after purchasing an additional 1,626 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in Bloom Energy in the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

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.