Bloom Energy (NYSE:BE) Trading Up 7.9% – Here’s What Happened

Bloom Energy Corporation (NYSE:BE) shares rose 7.9% on Monday . The company traded as high as $147.82 and last traded at $142.59. Approximately 17,235,517 shares traded hands during trading, an increase of 92% from the average daily volume of 8,962,181 shares. The stock had previously closed at $132.16.

Wall Street Analyst Weigh In

BE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on Bloom Energy to $129.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Oppenheimer reissued a “market perform” rating on shares of Bloom Energy in a report on Wednesday, October 29th. TD Cowen boosted their target price on Bloom Energy to $105.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. Bank of America boosted their target price on Bloom Energy from $24.00 to $26.00 and gave the stock an “underperform” rating in a report on Monday, October 20th. Finally, UBS Group boosted their target price on Bloom Energy to $115.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $95.65.

Bloom Energy Stock Performance

The firm’s fifty day moving average price is $83.10 and its 200 day moving average price is $45.75. 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 $33.37 billion, a PE ratio of 710.28, a PEG ratio of 235.83 and a beta of 3.48.

Bloom Energy (NYSE:BE) last posted 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 business had revenue of $519.05 million for the quarter, compared to analysts’ expectations of $425.18 million. During the same period in the previous year, the company posted ($0.01) EPS. Bloom Energy’s revenue was up 57.1% on a year-over-year basis. On average, research analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insiders Place Their Bets

In other Bloom Energy news, insider Maciej Kurzymski sold 2,474 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $70.47, for a total transaction of $174,342.78. Following the completion of the transaction, the insider owned 106,374 shares of the company’s stock, valued at $7,496,175.78. The trade was a 2.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Satish Chitoori sold 400 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $71.16, for a total transaction of $28,464.00. Following the transaction, the insider directly owned 231,965 shares of the company’s stock, valued at approximately $16,506,629.40. This represents a 0.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 301,193 shares of company stock worth $14,893,710 in the last 90 days. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. N.E.W. Advisory Services LLC bought a new position in Bloom Energy in the 3rd quarter valued at $32,000. Parkside Financial Bank & Trust grew its position in shares of Bloom Energy by 250.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock valued at $33,000 after purchasing an additional 281 shares during the period. Cranbrook Wealth Management LLC acquired a new position in Bloom Energy in the 3rd quarter worth $39,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Bloom Energy during the third quarter worth $42,000. Finally, ORG Partners LLC acquired a new stake in shares of Bloom Energy in the 3rd quarter valued at approximately $49,000. Institutional investors and hedge funds 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.