Bloom Energy (NYSE:BE) Trading 14.4% Higher – What’s Next?

Shares of Bloom Energy Corporation (NYSE:BE) shot up 14.4% during mid-day trading on Thursday . The stock traded as high as $128.02 and last traded at $123.5160. 10,623,190 shares traded hands during trading, a decline of 6% from the average session volume of 11,308,908 shares. The stock had previously closed at $108.00.

Analysts Set New Price Targets

Several research firms have weighed in on BE. Jefferies Financial Group reiterated an “underperform” rating and set a $53.00 target price on shares of Bloom Energy in a research note on Friday, October 31st. TD Cowen boosted their price objective on shares of Bloom Energy to $105.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. Roth Capital reissued a “neutral” rating and issued a $103.00 target price on shares of Bloom Energy in a report on Wednesday, October 29th. BMO Capital Markets set a $136.00 target price on Bloom Energy in a research note on Wednesday, October 29th. Finally, Robert W. Baird set a $157.00 price target on Bloom Energy in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Bloom Energy has a consensus rating of “Hold” and a consensus target price of $93.77.

Bloom Energy Stock Up 13.5%

The firm’s 50 day simple moving average is $105.45 and its 200 day simple moving average is $74.15. The company has a market cap of $28.99 billion, a price-to-earnings ratio of 572.50, a price-to-earnings-growth ratio of 8.68 and a beta of 3.01. The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.07. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The business had revenue of $519.05 million during the quarter, compared to the consensus estimate of $425.18 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. The business’s revenue was up 57.1% on a year-over-year basis. Sell-side analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Aman Joshi sold 4,543 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $109.13, for a total value of $495,777.59. Following the completion of the transaction, the insider owned 219,818 shares in the company, valued at $23,988,738.34. This represents a 2.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Maciej Kurzymski sold 13,105 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $144.09, for a total transaction of $1,888,299.45. Following the transaction, the insider directly owned 93,269 shares in the company, valued at approximately $13,439,130.21. The trade was a 12.32% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 120,410 shares of company stock valued at $16,557,185. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BE. Graticule Asia Macro Advisors LLC bought a new stake in Bloom Energy during the third quarter worth approximately $402,494,000. Trivest Advisors Ltd increased its position in shares of Bloom Energy by 1,461.6% during the 3rd quarter. Trivest Advisors Ltd now owns 3,420,000 shares of the company’s stock valued at $289,229,000 after purchasing an additional 3,201,000 shares during the period. Norges Bank acquired a new position in shares of Bloom Energy during the 2nd quarter valued at $57,821,000. Westfield Capital Management Co. LP bought a new stake in shares of Bloom Energy in the 3rd quarter worth $141,679,000. Finally, Man Group plc raised its stake in shares of Bloom Energy by 177.4% in the 2nd quarter. Man Group plc now owns 2,392,915 shares of the company’s stock worth $57,239,000 after buying an additional 1,530,167 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors.

About Bloom Energy

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.