Bloom Energy (NYSE:BE) Shares Climb 12% – Time to Buy?

Bloom Energy Corporation (NYSE:BE)’s stock price traded up 12% during trading on Monday. The company traded as high as $199.83 and last traded at $193.9680. 16,605,406 shares changed hands during trading, an increase of 23% from the average daily volume of 13,460,271 shares. The stock had previously closed at $173.24.

Top Bloom Energy Stories

Here are a few of the latest stories about BE:

• Positive Sentiment: Other coverage also pointed to renewed strength in the AI trade and sector updates seen as favorable for Bloom. Recent articles highlighted the company’s AI data-center opportunity and a major deal, reinforcing expectations for demand growth. Here’s Why Bloom Energy Stock Popped Today Bloom Energy lands a major AI data center deal as revenue surges
• Positive Sentiment: Royal Bank of Canada reaffirmed an “Outperform” rating, providing additional analyst support for the shares. Bloom Energy earns Outperform rating from Royal Bank of Canada
• Neutral Sentiment: Investors are also weighing whether Bloom’s future cash generation can support its elevated valuation after a sharp multi-year share-price rise. Can Bloom Energy justify its price on future cash flow?

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BE. Barclays raised Bloom Energy from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $316.00 to $289.00 in a research note on Tuesday, November 3rd. Royal Bank Of Canada reissued an “outperform” rating and set a $335.00 target price on shares of Bloom Energy in a research note on Monday. Clear Str raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Jefferies Financial Group reiterated a “hold” rating and set a $242.00 price target on shares of Bloom Energy in a research note on Friday, October 23rd. Finally, Mizuho increased their price target on shares of Bloom Energy from $242.00 to $351.00 and gave the stock an “outperform” rating in a research report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $263.05.

Bloom Energy Stock Up 13.2%

The company has a current ratio of 3.74, a quick ratio of 3.08 and a debt-to-equity ratio of 1.33. The company has a market cap of $62.07 billion, a price-to-earnings ratio of 128.79, a PEG ratio of 1.96 and a beta of 3.63. The firm’s fifty day simple moving average is $245.27 and its 200 day simple moving average is $221.40.

Bloom Energy (NYSE:BE) last issued its earnings results on Thursday, October 22nd. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.25. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.07 billion. Bloom Energy had a net margin of 13.53% and a return on equity of 45.29%. The company’s revenue was up 138.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share. Sell-side analysts predict that Bloom Energy Corporation will post 2.61 earnings per share for the current year.

Insider Activity at Bloom Energy

In related news, Director Barbara J. Burger sold 2,333 shares of the stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $215.05, for a total value of $501,711.65. Following the transaction, the director directly owned 36,607 shares of the company’s stock, valued at $7,872,335.35. This trade represents a 5.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John T. Chambers sold 8,828 shares of Bloom Energy stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $203.43, for a total transaction of $1,795,880.04. Following the sale, the director owned 199,505 shares in the company, valued at $40,585,302.15. This represents a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 85,859 shares of company stock valued at $20,994,650 in the last quarter. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Bloom Energy

Large investors have recently made changes to their positions in the company. Montanova Capital LLC purchased a new position in shares of Bloom Energy during the second quarter worth about $10,231,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Bloom Energy by 78.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,327,549 shares of the company’s stock valued at $401,849,000 after acquiring an additional 583,135 shares during the last quarter. Militia Capital Management LLC purchased a new stake in Bloom Energy during the 1st quarter valued at approximately $813,000. Assenagon Asset Management S.A. raised its stake in Bloom Energy by 3,398.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 239,877 shares of the company’s stock valued at $72,611,000 after acquiring an additional 233,020 shares during the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new stake in Bloom Energy during the 1st quarter worth approximately $8,468,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Company Profile

Bloom Energy Corporation develops solid oxide fuel cell technology for on-site electricity generation and hydrogen production. Its Bloom Energy Server systems generate power near the point of use, helping businesses and institutions meet electricity needs and support resilient energy operations. The company also offers solid oxide electrolyzers designed to produce hydrogen. Founded in 2001 by K.R. Sridhar, Bloom Energy is headquartered in San Jose, California. It serves customers in the United States and international markets, including countries in Asia.