Bloom Energy (NYSE:BE) Trading Up 7.8% – Time to Buy?

Shares of Bloom Energy Corporation (NYSE:BE) shot up 7.8% during trading on Thursday . The stock traded as high as $110.29 and last traded at $109.14. 9,103,530 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 9,689,701 shares. The stock had previously closed at $101.29.

Wall Street Analysts Forecast Growth

BE has been the subject of several research analyst reports. Wedbush set a $39.00 price objective on shares of Bloom Energy in a research report on Tuesday, November 25th. Hsbc Global Res raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. Robert W. Baird set a $157.00 target price on shares of Bloom Energy in a research note on Wednesday, October 29th. Jefferies Financial Group reiterated an “underperform” rating and set a $53.00 price target on shares of Bloom Energy in a report on Friday, October 31st. Finally, BMO Capital Markets set a $136.00 price objective on Bloom Energy in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $93.77.

Bloom Energy Stock Performance

The firm has a market capitalization of $22.51 billion, a P/E ratio of 562.72, a price-to-earnings-growth ratio of 68.84 and a beta of 3.00. The company has a 50-day moving average of $110.13 and a 200-day moving average of $64.99. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98.

Bloom Energy (NYSE:BE) last released its quarterly earnings results 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 net margin of 0.84% and a return on equity of 8.74%. The firm had revenue of $519.05 million during the quarter, compared to analyst estimates of $425.18 million. During the same quarter last year, the business earned ($0.01) EPS. The company’s revenue was up 57.1% compared to the same quarter last year. On average, equities analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Transactions at Bloom Energy

In related news, insider Aman Joshi sold 4,543 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $109.13, for a total transaction of $495,777.59. Following the completion of the sale, the insider directly owned 219,818 shares of the company’s stock, valued at approximately $23,988,738.34. This trade represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shawn Marie Soderberg sold 36,666 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $141.00, for a total transaction of $5,169,906.00. Following the completion of the transaction, the insider directly owned 225,949 shares in the company, valued at $31,858,809. This trade represents a 13.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 119,589 shares of company stock valued at $16,439,742. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Bloom Energy by 6.3% during the third quarter. Vanguard Group Inc. now owns 20,807,920 shares of the company’s stock valued at $1,759,726,000 after buying an additional 1,240,819 shares during the last quarter. Graticule Asia Macro Advisors LLC purchased a new position in Bloom Energy in the 3rd quarter worth approximately $402,494,000. Geode Capital Management LLC lifted its position in Bloom Energy by 2.1% in the second quarter. Geode Capital Management LLC now owns 4,756,516 shares of the company’s stock valued at $113,790,000 after purchasing an additional 95,990 shares during the last quarter. Public Investment Fund boosted its stake in shares of Bloom Energy by 16.8% during the first quarter. Public Investment Fund now owns 3,803,770 shares of the company’s stock valued at $74,782,000 after purchasing an additional 546,372 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in shares of Bloom Energy by 29.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company’s stock worth $71,010,000 after purchasing an additional 821,814 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors.

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.