Bloom Energy (NYSE:BE) Shares Up 14.4% – Time to Buy?

Bloom Energy Corporation (NYSE:BE)’s share price traded up 14.4% on Thursday . The company traded as high as $128.02 and last traded at $123.5160. 10,623,190 shares traded hands during trading, a decline of 6% from the average session volume of 11,308,908 shares. The stock had previously closed at $108.00.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Daiwa Capital Markets set a $98.00 target price on Bloom Energy in a research report on Tuesday, December 2nd. Wedbush set a $39.00 price target on shares of Bloom Energy in a research report on Tuesday, November 25th. Cowen reaffirmed a “hold” rating on shares of Bloom Energy in a research note on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Bloom Energy in a research note on Thursday, October 30th. Finally, Evercore ISI restated an “outperform” rating on shares of Bloom Energy in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Bloom Energy currently has a consensus rating of “Hold” and a consensus price target of $93.77.

Bloom Energy Price Performance

The company’s fifty day moving average is $105.45 and its two-hundred day moving average is $74.15. 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 firm has a market cap of $28.99 billion, a price-to-earnings ratio of 572.50, a price-to-earnings-growth ratio of 8.68 and a beta of 3.01.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.08 by $0.07. The company had revenue of $519.05 million for 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%.The firm’s revenue was up 57.1% compared to the same quarter last year. During the same period last year, the company posted ($0.01) earnings per share. Equities research analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Aman Joshi sold 4,543 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $109.13, for a total value of $495,777.59. Following the completion of the sale, the insider owned 219,818 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Maciej Kurzymski sold 13,105 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $144.09, for a total transaction of $1,888,299.45. Following the transaction, the insider directly owned 93,269 shares in the company, valued at approximately $13,439,130.21. The trade was a 12.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 120,410 shares of company stock worth $16,557,185 over the last 90 days. 3.60% of the stock is owned by corporate insiders.

Institutional Trading of Bloom Energy

Several institutional investors have recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC acquired a new position in Bloom Energy during the 3rd quarter worth $32,000. Fifth Third Bancorp acquired a new position in Bloom Energy in the third quarter worth about $32,000. Parkside Financial Bank & Trust grew its stake in 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 in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Bloom Energy during the second quarter valued at approximately $36,000. Finally, NewEdge Advisors LLC raised its stake in Bloom Energy by 674.7% during the first quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock valued at $37,000 after buying an additional 1,626 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

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.