Bloom Energy (NYSE:BE) Trading Up 8.9% – Still a Buy?

Bloom Energy Corporation (NYSE:BE) traded up 8.9% during trading on Friday . The company traded as high as $91.50 and last traded at $94.58. 853,065 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 10,392,208 shares. The stock had previously closed at $86.89.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BE shares. Susquehanna upped their target price on shares of Bloom Energy to $157.00 and gave the stock a “positive” rating in a research note on Wednesday, October 29th. Daiwa Capital Markets set a $98.00 price objective on shares of Bloom Energy in a research report on Tuesday, December 2nd. Roth Capital reiterated a “neutral” rating and issued a $103.00 price objective on shares of Bloom Energy in a research note on Wednesday, October 29th. Zacks Research downgraded Bloom Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Bloom Energy in a report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Bloom Energy has a consensus rating of “Hold” and an average price target of $93.77.

Bloom Energy Stock Performance

The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40. The company has a market cap of $22.57 billion, a PE ratio of 482.72, a price-to-earnings-growth ratio of 54.88 and a beta of 3.02. The company’s 50 day moving average price is $106.47 and its 200-day moving average price is $71.52.

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

Insider Buying and Selling

In other news, Director Jim H. Snabe sold 20,000 shares of Bloom Energy stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $143.04, for a total value of $2,860,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 1,583 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $105.97, for a total transaction of $167,750.51. Following the completion of the sale, the insider directly owned 221,633 shares in the company, valued at approximately $23,486,449.01. This trade represents a 0.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 120,410 shares of company stock worth $16,557,185 in the last quarter. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

A number of large investors have recently modified their holdings of BE. Banque Transatlantique SA increased its holdings in Bloom Energy by 227.6% during the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock worth $30,000 after acquiring an additional 1,161 shares during the period. N.E.W. Advisory Services LLC purchased a new position in shares of Bloom Energy during the 3rd quarter valued at $32,000. Fifth Third Bancorp bought a new position in shares of Bloom Energy in the third quarter worth $32,000. Parkside Financial Bank & Trust increased its holdings in shares of Bloom Energy by 250.9% in the third quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock worth $33,000 after purchasing an additional 281 shares during the period. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Bloom Energy in the second quarter worth $36,000. 77.04% of the stock is currently owned by institutional investors.

Bloom Energy Company Profile

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.