Bloom Energy (NYSE:BE) Trading 7.9% Higher – Still a Buy?

Bloom Energy Corporation (NYSE:BE) traded up 7.9% on Thursday . The company traded as high as $107.68 and last traded at $110.5730. 2,815,627 shares changed hands during trading, a decline of 71% from the average session volume of 9,581,444 shares. The stock had previously closed at $102.50.

Wall Street Analyst Weigh In

Several research firms have issued reports on BE. TD Cowen lifted their target price on Bloom Energy to $105.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. UBS Group lifted their price objective on shares of Bloom Energy to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Cowen reiterated a “hold” rating on shares of Bloom Energy in a research note on Wednesday, October 29th. Robert W. Baird set a $157.00 price target on shares of Bloom Energy in a report on Wednesday, October 29th. Finally, Roth Capital reiterated a “neutral” rating and set a $103.00 price objective on shares of Bloom Energy in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $93.77.

Bloom Energy Price Performance

The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98. The stock’s 50 day moving average price is $106.17 and its two-hundred day moving average price is $60.89. The stock has a market cap of $27.87 billion, a price-to-earnings ratio of 583.33, a price-to-earnings-growth ratio of 66.32 and a beta of 3.00.

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. The company had revenue of $519.05 million for the quarter, compared to analyst estimates of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The firm’s revenue was up 57.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.01) earnings per share. Equities research analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Activity

In related news, insider Maciej Kurzymski sold 13,105 shares of Bloom Energy stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $144.09, for a total transaction of $1,888,299.45. Following the completion of the transaction, the insider directly owned 93,269 shares in the company, valued at approximately $13,439,130.21. This trade represents a 12.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jim H. Snabe sold 20,000 shares of the business’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 value of $2,860,800.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 119,589 shares of company stock valued at $16,439,742 over the last 90 days. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Bloom Energy by 6.3% during the 3rd quarter. Vanguard Group Inc. now owns 20,807,920 shares of the company’s stock worth $1,759,726,000 after acquiring an additional 1,240,819 shares in the last quarter. Graticule Asia Macro Advisors LLC purchased a new position in shares of Bloom Energy in the 3rd quarter valued at about $402,494,000. Geode Capital Management LLC raised its holdings in Bloom Energy by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,756,516 shares of the company’s stock worth $113,790,000 after purchasing an additional 95,990 shares during the period. Public Investment Fund raised its holdings in Bloom Energy by 16.8% in the 1st quarter. Public Investment Fund now owns 3,803,770 shares of the company’s stock worth $74,782,000 after purchasing an additional 546,372 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its position in Bloom Energy by 29.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company’s stock worth $71,010,000 after purchasing an additional 821,814 shares in the last quarter. Hedge funds and other institutional investors 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.