Bloom Energy (NYSE:BE) Stock Jumps 3.5% – What’s Next?

Bloom Energy Corporation (NYSE:BE) was up 3.5% during mid-day trading on Friday. The stock traded as high as $186.33 and last traded at $173.3510. 23,000,262 shares traded hands during mid-day trading, an increase of 71% from the average daily volume of 13,436,388 shares. The stock had previously closed at $167.52.

More Bloom Energy News

Here are the key news stories impacting Bloom Energy this week:

• Positive Sentiment: BE shares rebounded as fuel-cell stocks clawed back some post-election losses; a technical-trading report also noted the stock found support near $163. Fuel-cell stocks rebound
• Positive Sentiment: Bloom’s agreement with NTT DATA to deploy 900 megawatts of onsite power across data-center projects supports the company’s growth opportunity in power-hungry facilities. Recent quarterly results also beat estimates, and Bloom raised its full-year outlook. NTT DATA agreement Bloom Energy outlook
• Neutral Sentiment: Director Barbara Burger sold 2,333 shares for about $502,000, reducing her stake by roughly 6%; she still held 36,607 shares after the sale. Director share sale
• Negative Sentiment: Election-related fears about potential changes to data-center approvals and the pace of AI infrastructure investment recently pressured Bloom and other AI-power stocks. That concern remains a risk despite the NTT DATA contract. AI data-center concerns

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. UBS Group increased their price objective on Bloom Energy from $325.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. Wells Fargo & Company boosted their target price on shares of Bloom Energy from $176.00 to $182.00 and gave the company an “equal weight” rating in a research note on Monday, October 26th. KeyCorp restated a “sector weight” rating on shares of Bloom Energy in a report on Friday, October 23rd. Sanford C. Bernstein raised their price target on shares of Bloom Energy from $282.00 to $306.00 and gave the stock a “market perform” rating in a research note on Friday, October 23rd. Finally, Morgan Stanley raised their price target on shares of Bloom Energy from $310.00 to $335.00 and gave the stock an “overweight” rating in a research note on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $263.05.

Bloom Energy Stock Up 3.5%

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 firm has a market capitalization of $51.25 billion, a price-to-earnings ratio of 106.35, a price-to-earnings-growth ratio of 1.75 and a beta of 3.63. The firm has a 50 day moving average price of $246.00 and a two-hundred day moving average price of $220.98.

Bloom Energy (NYSE:BE) last issued 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 net margin of 13.53% and a return on equity of 45.29%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $0.15 EPS. The business’s revenue for the quarter was up 138.1% compared to the same quarter last year. On average, equities analysts expect that Bloom Energy Corporation will post 2.61 earnings per share for the current fiscal year.

Insider Activity at Bloom Energy

In related news, insider Satish Chitoori sold 2,870 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $270.06, for a total transaction of $775,072.20. Following the sale, the insider directly owned 202,494 shares in the company, valued at approximately $54,685,529.64. This trade represents a 1.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Aman Joshi sold 8,437 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $277.17, for a total value of $2,338,483.29. Following the sale, the insider owned 147,092 shares in the company, valued at approximately $40,769,489.64. The trade was a 5.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 85,859 shares of company stock valued at $20,994,650 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of Bloom Energy

Large investors have recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. raised its holdings in Bloom Energy by 49.3% in the 2nd 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. Compound Planning Inc. grew its holdings in shares of Bloom Energy by 1.1% during the 1st quarter. Compound Planning Inc. now owns 3,445 shares of the company’s stock worth $467,000 after purchasing an additional 38 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Bloom Energy by 13.8% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 355 shares of the company’s stock worth $98,000 after purchasing an additional 43 shares in the last quarter. Carolina Wealth Advisors LLC increased its position in shares of Bloom Energy by 51.7% during the second quarter. Carolina Wealth Advisors LLC now owns 135 shares of the company’s stock valued at $41,000 after purchasing an additional 46 shares during the period. Finally, Truefg LLC increased its position in shares of Bloom Energy by 2.4% during the third quarter. Truefg LLC now owns 2,048 shares of the company’s stock valued at $567,000 after purchasing an additional 48 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

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.