Bloom Energy (NYSE:BE) Stock Jumps 12% – What’s Next?

Bloom Energy Corporation (NYSE:BE)’s share price shot up 12% during mid-day trading on Monday. The company traded as high as $199.83 and last traded at $193.9680. 16,605,406 shares changed hands during mid-day trading, an increase of 23% from the average session volume of 13,460,271 shares. The stock had previously closed at $173.24.

Bloom Energy News Roundup

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

• Positive Sentiment: Bloom reportedly signed 1.6 gigawatts of fuel-cell contracts for data centers shortly after the election. Investors also revisited its major project pipeline, including a 900-megawatt agreement with NTT DATA for data-center power and Bloom’s role supplying fuel cells for Google’s planned Wyoming project. These deals reinforce the company’s opportunity to meet AI-related electricity demand. Why Bloom Energy Stock Popped Today Bloom Energy Lands 900 Megawatt Data Center Power Deal
• Positive Sentiment: The rebound also reflects a recovery in fuel-cell and AI-power stocks after last week’s sell-off, with investors potentially viewing the pullback as overdone. Bloom’s recent quarterly results—record performance and higher full-year guidance, according to the report—may add support. Bloom Energy rises as investors refocus on major data-center power deals
• Positive Sentiment: Royal Bank of Canada reaffirmed its “Outperform” rating and $335 price target, signaling continued analyst confidence in the shares. Royal Bank of Canada rating
• Negative Sentiment: Quiver’s data show 24 open-market insider sales and no purchases over the past six months. That activity may weigh on sentiment, although it does not establish why insiders sold. Insider trading and market analysis

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BE. Oppenheimer reiterated a “market perform” rating on shares of Bloom Energy in a research report on Friday, October 23rd. Truist Financial upped their price target on Bloom Energy from $218.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, October 16th. Citigroup raised their price objective on Bloom Energy from $281.00 to $284.00 and gave the company a “neutral” rating in a research note on Thursday, October 29th. Roth Capital set a $230.00 price objective on Bloom Energy in a report on Friday, October 23rd. Finally, Clear Str upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $263.05.

Bloom Energy Stock Performance

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 stock’s 50 day moving average price is $246.00 and its two-hundred day moving average price is $220.98. The firm has a market capitalization of $57.35 billion, a PE ratio of 119.00, a PEG ratio of 1.75 and a beta of 3.63.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.25. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.07 billion. Bloom Energy had a return on equity of 45.29% and a net margin of 13.53%. The company’s quarterly revenue was up 138.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 EPS. On average, equities analysts expect that Bloom Energy Corporation will post 2.61 earnings per share for the current year.

Insider Buying and Selling

In other Bloom Energy news, Director John Chambers sold 15,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $250.00, for a total value of $3,750,000.00. Following the transaction, the director directly owned 208,333 shares in the company, valued at approximately $52,083,250. This represents a 6.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shawn Soderberg sold 2,895 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $233.60, for a total transaction of $676,272.00. Following the sale, the insider directly owned 129,370 shares in the company, valued at $30,220,832. This represents a 2.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 85,859 shares of company stock worth $20,994,650 in the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Bloom Energy

Several hedge funds and other institutional investors have recently bought and sold shares of BE. Hantz Financial Services Inc. boosted its holdings in shares of Bloom Energy by 35.4% during the third quarter. Hantz Financial Services Inc. now owns 665 shares of the company’s stock worth $184,000 after purchasing an additional 174 shares during the last quarter. Harbour Investments Inc. grew its position in shares of Bloom Energy by 11.2% in the third quarter. Harbour Investments Inc. now owns 2,040 shares of the company’s stock valued at $565,000 after purchasing an additional 206 shares during the period. IFG Advisory LLC increased its stake in Bloom Energy by 310.0% in the third quarter. IFG Advisory LLC now owns 410 shares of the company’s stock valued at $114,000 after purchasing an additional 310 shares during the last quarter. Optas LLC acquired a new position in Bloom Energy in the third quarter valued at $200,000. Finally, Phoenix Financial Ltd. purchased a new position in Bloom Energy during the third quarter worth about $1,102,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Company Profile

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.