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

Shares of Bloom Energy Corporation (NYSE:BE) reached a new 52-week high during trading on Tuesday . The company traded as high as $176.49 and last traded at $165.5330, with a volume of 2344609 shares traded. The stock had previously closed at $156.13.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of Bloom Energy to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Wedbush set a $39.00 price target on Bloom Energy in a research report on Tuesday, November 25th. Evercore ISI restated an “outperform” rating on shares of Bloom Energy in a report on Thursday, January 8th. UBS Group raised their target price on Bloom Energy to $115.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Finally, Roth Mkm boosted their price target on shares of Bloom Energy to $133.00 and gave the stock a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bloom Energy has a consensus rating of “Hold” and an average price target of $111.13.

Bloom Energy Price Performance

The stock has a 50-day moving average of $117.11 and a two-hundred day moving average of $91.27. 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 cap of $32.09 billion, a price-to-earnings ratio of 938.28, a price-to-earnings-growth ratio of 13.65 and a beta of 3.07.

Insider Activity

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,583 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $105.97, for a total transaction of $167,750.51. Following the sale, the insider directly owned 221,633 shares of the company’s stock, valued at $23,486,449.01. The trade was a 0.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Maciej Kurzymski sold 3,264 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $86.48, for a total value of $282,270.72. Following the completion of the sale, the insider owned 90,005 shares of the company’s stock, valued at $7,783,632.40. The trade was a 3.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 14,639 shares of company stock worth $1,496,660 over the last three months. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors have recently modified their holdings of BE. WPG Advisers LLC raised its holdings in shares of Bloom Energy by 26.4% during the fourth quarter. WPG Advisers LLC now owns 321 shares of the company’s stock worth $28,000 after acquiring an additional 67 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Bloom Energy during the 3rd quarter worth about $32,000. Fifth Third Bancorp acquired a new stake in shares of Bloom Energy during the 3rd quarter valued at about $32,000. Parkside Financial Bank & Trust lifted its holdings in shares of Bloom Energy by 250.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock valued at $33,000 after buying an additional 281 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Bloom Energy in the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Company Profile

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.