Bloom Energy (NYSE:BE) Shares Up 9.1% Following Analyst Upgrade

Bloom Energy Corporation (NYSE:BE)’s stock price rose 9.1% on Tuesday after Barclays upgraded the stock from an equal weight rating to an overweight rating. Barclays now has a $289.00 price target on the stock, down from their previous price target of $316.00. Bloom Energy traded as high as $220.50 and last traded at $214.0460. 13,753,605 shares changed hands during mid-day trading, an increase of 4% from the average session volume of 13,226,049 shares. The stock had previously closed at $196.25.

Other research analysts have also issued research reports about the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $335.00 price objective on shares of Bloom Energy in a research note on Friday, October 23rd. Roth Capital set a $230.00 target price on shares of Bloom Energy in a research note on Friday, October 23rd. Zacks Research lowered shares of Bloom Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Evercore reaffirmed an “outperform” rating on shares of Bloom Energy in a research report on Monday, October 26th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $242.00 price objective on shares of Bloom Energy in a report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bloom Energy has an average rating of “Hold” and a consensus price target of $263.05.

Insider Transactions at Bloom Energy

In related news, Director John T. Chambers sold 15,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $250.00, for a total transaction of $3,750,000.00. Following the sale, the director owned 208,333 shares in the company, valued at approximately $52,083,250. This trade represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shawn Soderberg sold 2,895 shares of Bloom Energy stock in a transaction on Friday, August 14th. The shares were sold at an average price of $233.60, for a total transaction of $676,272.00. Following the completion of the transaction, the insider directly owned 129,370 shares of the company’s stock, valued at $30,220,832. The trade was a 2.19% 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. Over the last 90 days, insiders sold 74,698 shares of company stock worth $18,697,058. Insiders own 3.00% of the company’s stock.

Key Headlines Impacting Bloom Energy

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

• Positive Sentiment: Bloom and California Resources Corporation, together with carbon-management subsidiary Carbon TerraVault, signed a memorandum of understanding to evaluate at least 1 GW of solid-oxide fuel-cell power paired with carbon capture and storage in California. Potential customers include utilities, data centers and industrial users, opening a sizable commercial opportunity if projects proceed. California Resources collaboration announcement
• Positive Sentiment: Barclays raised its rating on Bloom to Overweight from Equal Weight, citing demand for firm, on-site power, including from AI data centers. Its price target is now $289, reduced from $316, and was reported as implying roughly 35% upside from the cited share price. Barclays upgrade and AI data center demand
• Neutral Sentiment: The California agreement is non-binding and calls for evaluating projects, not committing to construction or revenue. Permitting, financing and customer commitments will determine whether the 1-GW opportunity becomes executable business. Bloom Energy partnership details
• Negative Sentiment: Bloom’s valuation remains a risk: the supplied market data shows a trailing P/E above 130, leaving the stock potentially sensitive to delays or any shortfall in converting growth expectations into contracts and earnings.

Institutional Trading of Bloom Energy

Institutional investors have recently made changes to their positions in the company. Pictet Asset Management Holding SA boosted its holdings in Bloom Energy by 21.0% during the 3rd quarter. Pictet Asset Management Holding SA now owns 169,607 shares of the company’s stock valued at $46,978,000 after acquiring an additional 29,410 shares during the period. Alps Advisors Inc. increased its stake in shares of Bloom Energy by 23.1% during the third quarter. Alps Advisors Inc. now owns 12,046 shares of the company’s stock worth $3,337,000 after acquiring an additional 2,257 shares during the period. Providence First Trust Co acquired a new stake in Bloom Energy in the third quarter valued at $297,000. CenterBook Partners LP acquired a new stake in shares of Bloom Energy during the 3rd quarter valued at approximately $1,928,000. Finally, International Assets Investment Management LLC increased its position in shares of Bloom Energy by 49.8% in the third quarter. International Assets Investment Management LLC now owns 6,003 shares of the company’s stock valued at $1,666,000 after buying an additional 1,995 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Trading Up 9.1%

The company has a debt-to-equity ratio of 1.33, a current ratio of 3.74 and a quick ratio of 3.08. The business’s 50-day simple moving average is $248.07 and its 200-day simple moving average is $220.08. The company has a market cap of $63.04 billion, a price-to-earnings ratio of 131.32, a PEG ratio of 2.36 and a beta of 3.77.

Bloom Energy (NYSE:BE) 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 firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm earned $0.15 EPS. Bloom Energy’s quarterly revenue was up 138.1% on a year-over-year basis. Research analysts predict that Bloom Energy Corporation will post 2.61 earnings per share for the current fiscal year.

Bloom Energy Company Profile

Bloom Energy Corporation develops and manufactures energy systems designed to generate electricity on-site. Its primary product is the Bloom Energy Server, a solid oxide fuel cell platform that converts fuel into electricity through an electrochemical process rather than combustion. The systems are used by businesses, utilities, data centers and other organizations seeking reliable, distributed power.

The company also develops electrolyzers based on its solid oxide technology. These systems are designed to produce hydrogen from electricity and water and support applications related to industrial operations, energy storage and the emerging hydrogen economy.