Bloom Energy (NYSE:BE) Hits New 12-Month High – Still a Buy?

Bloom Energy Corporation (NYSE:BE) hit a new 52-week high during trading on Wednesday . The stock traded as high as $164.40 and last traded at $162.2810, with a volume of 4854867 shares. The stock had previously closed at $152.31.

Analyst Ratings Changes

A number of brokerages have issued reports on BE. Zacks Research lowered shares of Bloom Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Jefferies Financial Group restated an “underperform” rating and set a $92.00 price target on shares of Bloom Energy in a report on Monday. China Renaissance assumed coverage on Bloom Energy in a research report on Wednesday. They set a “buy” rating and a $207.00 price target for the company. Hsbc Global Res upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 29th. Finally, UBS Group upped their target price on Bloom Energy to $115.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Bloom Energy has a consensus rating of “Hold” and an average price target of $109.83.

Bloom Energy Trading Up 8.1%

The stock has a 50-day moving average of $109.89 and a two-hundred day moving average of $86.14. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40. The company has a market cap of $38.96 billion, a P/E ratio of 775.67, a price-to-earnings-growth ratio of 11.76 and a beta of 3.01.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data 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 the consensus estimate of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. Bloom Energy’s revenue for the quarter was up 57.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) EPS. On average, equities research analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 36,666 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $141.00, for a total value of $5,169,906.00. Following the transaction, the insider directly owned 225,949 shares of the company’s stock, valued at approximately $31,858,809. This represents a 13.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Aman Joshi sold 4,543 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $109.13, for a total value of $495,777.59. Following the transaction, the insider directly owned 219,818 shares in the company, valued at approximately $23,988,738.34. The trade was a 2.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 120,410 shares of company stock worth $16,557,185 over the last 90 days. 3.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Bayforest Capital Ltd purchased a new stake in Bloom Energy during the first quarter valued at $2,055,000. AQR Capital Management LLC purchased a new stake in shares of Bloom Energy during the 1st quarter valued at about $1,820,000. NewEdge Advisors LLC lifted its stake in shares of Bloom Energy by 674.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock worth $37,000 after purchasing an additional 1,626 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Bloom Energy by 50.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock worth $49,127,000 after buying an additional 836,810 shares during the last quarter. Finally, Focus Partners Wealth grew its position in Bloom Energy by 30.7% during the first quarter. Focus Partners Wealth now owns 20,063 shares of the company’s stock valued at $394,000 after buying an additional 4,716 shares during the period. 77.04% of the stock is owned by institutional investors.

About Bloom Energy

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.