Shares of Bloom Energy Corporation (NYSE:BE – Get Free Report) traded down 3.6% during mid-day trading on Thursday. The stock traded as low as $193.44 and last traded at $202.0270. Approximately 14,200,909 shares changed hands during trading, an increase of 5% from the average session volume of 13,488,427 shares. The stock had previously closed at $209.47.
Key Bloom Energy News
These are some of the BE news items that stood out recently:
- Positive Sentiment: Bloom’s appeal to AI customers adds to the growth case: an article describes the shift from traditional customers such as hospitals and retailers toward AI hyperscalers, alongside large potential orders. Bloom Energy Has Found an Unexpected Customer: AI
- Positive Sentiment: Royal Bank of Canada assigned Bloom an “Outperform” rating, providing a favorable analyst view. Bloom Energy Earns Outperform Rating from RBC
- Negative Sentiment: The AI opportunity also creates risk: if the data-center buildout slows, demand for the power equipment needed to serve it could weaken. These Energy Stocks Can’t Escape Nvidia’s Wake
Analysts Set New Price Targets
Several equities analysts have recently commented on BE shares. Oppenheimer reaffirmed a “market perform” rating on shares of Bloom Energy in a research note on Friday, October 23rd. Truist Financial raised their price objective on Bloom Energy from $218.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, October 16th. Jefferies Financial Group restated a “hold” rating and issued a $242.00 price objective on shares of Bloom Energy in a report on Friday, October 23rd. BTIG Research lowered their target price on shares of Bloom Energy from $295.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Finally, Morgan Stanley lifted their price target on shares of Bloom Energy from $310.00 to $335.00 and gave the company an “overweight” rating in a research report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $263.05.
Bloom Energy Price Performance
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 stock has a market cap of $59.73 billion, a PE ratio of 123.94, a P/E/G ratio of 1.87 and a beta of 3.63. The company has a fifty day moving average of $245.20 and a 200-day moving average of $221.73.
Bloom Energy (NYSE:BE – Get Free Report) last announced its earnings results on Thursday, October 22nd. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.25. Bloom Energy had a return on equity of 45.29% and a net margin of 13.53%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the business posted $0.15 EPS. Bloom Energy’s revenue for the quarter was up 138.1% on a year-over-year basis. Sell-side analysts expect that Bloom Energy Corporation will post 2.61 EPS for the current fiscal year.
Insider Buying and Selling at Bloom Energy
In other news, Director Barbara Burger sold 2,333 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director owned 36,607 shares of the company’s stock, valued at approximately $7,872,335.35. This trade represents a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Satish Chitoori sold 2,870 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $270.06, for a total transaction of $775,072.20. Following the completion of the transaction, the insider directly owned 202,494 shares of the company’s stock, valued at approximately $54,685,529.64. The trade was a 1.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 70,859 shares of company stock valued at $17,244,650. Corporate insiders own 3.00% of the company’s stock.
Institutional Investors Weigh In On Bloom Energy
A number of hedge funds have recently added to or reduced their stakes in BE. Continuum Advisory LLC acquired a new position in shares of Bloom Energy in the second quarter worth $25,000. Trifecta Capital Advisors LLC purchased a new stake in shares of Bloom Energy during the third quarter worth $26,000. REAP Financial Group LLC acquired a new stake in shares of Bloom Energy in the third quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. raised its stake in shares of Bloom Energy by 49.3% in the second quarter. MJT & Associates Financial Advisory Group Inc. now owns 112 shares of the company’s stock valued at $34,000 after acquiring an additional 37 shares in the last quarter. Finally, Markowski Investments purchased a new position in Bloom Energy in the second quarter valued at $37,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.
About Bloom Energy
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.
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