Bloom Energy (NYSE:BE) Price Target Raised to $26.00

Bloom Energy (NYSE:BE) had its target price boosted by Bank of America from $24.00 to $26.00 in a research note issued to investors on Monday morning,Benzinga reports. Bank of America currently has an underperform rating on the stock.

Other research analysts also recently issued reports about the stock. Morgan Stanley raised their price objective on shares of Bloom Energy from $35.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Bloom Energy in a research note on Wednesday, October 8th. BMO Capital Markets raised their target price on shares of Bloom Energy from $33.00 to $97.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 14th. Mizuho cut shares of Bloom Energy from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $48.00 to $79.00 in a research note on Thursday, October 2nd. Finally, Jefferies Financial Group cut shares of Bloom Energy from a “hold” rating to an “underperform” rating and raised their target price for the stock from $24.00 to $31.00 in a research note on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $65.70.

Bloom Energy Trading Down 9.6%

NYSE BE opened at $94.35 on Monday. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21. The firm’s fifty day moving average price is $72.92 and its 200 day moving average price is $40.31. The company has a market capitalization of $22.08 billion, a price-to-earnings ratio of 2,359.26, a price-to-earnings-growth ratio of 165.56 and a beta of 3.48. Bloom Energy has a 12 month low of $9.02 and a 12 month high of $125.75.

Bloom Energy (NYSE:BE) last posted its earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.08. The firm 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 company’s revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm posted ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Bloom Energy will post -0.23 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Aman Joshi sold 4,870 shares of Bloom Energy 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 completion of the sale, the insider directly owned 224,361 shares in the company, valued at $9,728,292.96. The trade was a 2.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 45,000 shares of Bloom Energy stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $43.31, for a total transaction of $1,948,950.00. Following the sale, the insider owned 229,682 shares of the company’s stock, valued at approximately $9,947,527.42. This trade represents a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,193 shares of company stock worth $14,893,710 in the last three months. 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 bought and sold shares of BE. Norges Bank acquired a new position in Bloom Energy during the second quarter valued at approximately $57,821,000. Man Group plc lifted its position in Bloom Energy by 177.4% during the second quarter. Man Group plc now owns 2,392,915 shares of the company’s stock valued at $57,239,000 after buying an additional 1,530,167 shares in the last quarter. Tree Line Advisors Hong Kong Ltd. acquired a new position in shares of Bloom Energy during the first quarter worth $22,609,000. Driehaus Capital Management LLC acquired a new position in shares of Bloom Energy during the first quarter worth $21,066,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Bloom Energy by 50.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock worth $49,127,000 after purchasing an additional 836,810 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Company Profile

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.