Bloom Energy (NYSE:BE) Price Target Raised to $90.00 at JPMorgan Chase & Co.

Bloom Energy (NYSE:BE) had its price target lifted by JPMorgan Chase & Co. from $40.00 to $90.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on BE. BTIG Research boosted their price target on Bloom Energy from $42.00 to $80.00 and gave the company a “buy” rating in a report on Monday, September 29th. Robert W. Baird upped their price target on shares of Bloom Energy from $45.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Morgan Stanley increased their target price on Bloom Energy from $35.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Roth Capital boosted their price target on Bloom Energy from $34.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, September 19th. Finally, UBS Group restated an “underperform” rating on shares of Bloom Energy in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and an average target price of $43.82.

Bloom Energy Stock Up 2.5%

NYSE:BE opened at $90.18 on Thursday. The company has a market cap of $21.10 billion, a price-to-earnings ratio of 2,254.99 and a beta of 3.48. Bloom Energy has a twelve month low of $9.02 and a twelve month high of $93.80. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. The stock has a fifty day simple moving average of $56.53 and a 200-day simple moving average of $33.28.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.02 by $0.08. The company had revenue of $401.24 million for the quarter, compared to the consensus estimate of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The firm’s revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. Analysts anticipate that Bloom Energy will post -0.23 EPS for the current year.

Insider Activity

In other news, insider Maciej Kurzymski sold 2,474 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $70.47, for a total transaction of $174,342.78. Following the sale, the insider owned 106,374 shares in the company, valued at approximately $7,496,175.78. The trade was a 2.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Aman Joshi sold 4,870 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $43.36, for a total transaction of $211,163.20. Following the transaction, the insider owned 224,361 shares in the company, valued at approximately $9,728,292.96. This trade represents a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 302,205 shares of company stock worth $14,919,283 over the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BE. Advisors Asset Management Inc. lifted its stake in shares of Bloom Energy by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company’s stock worth $1,704,000 after buying an additional 26,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Bloom Energy by 634.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company’s stock worth $11,763,000 after acquiring an additional 516,833 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Bloom Energy by 662.4% during the 1st quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company’s stock worth $1,445,000 after acquiring an additional 63,875 shares during the period. Comerica Bank grew its stake in Bloom Energy by 5.8% during the 1st quarter. Comerica Bank now owns 88,554 shares of the company’s stock valued at $1,741,000 after purchasing an additional 4,885 shares during the last quarter. Finally, Torray Investment Partners LLC purchased a new stake in Bloom Energy during the 1st quarter valued at about $904,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

About Bloom Energy

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.