Bloom Energy (NYSE:BE) Trading Up 7.9% – Here’s What Happened

Bloom Energy Corporation (NYSE:BE)’s share price traded up 7.9% on Thursday . The stock traded as high as $107.68 and last traded at $110.5730. 2,815,627 shares were traded during mid-day trading, a decline of 71% from the average session volume of 9,581,444 shares. The stock had previously closed at $102.50.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BE shares. Hsbc Global Res upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. Mizuho set a $89.00 target price on Bloom Energy in a research report on Wednesday, October 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $123.00 target price on shares of Bloom Energy in a research note on Monday, October 20th. Robert W. Baird set a $157.00 price target on Bloom Energy in a research note on Wednesday, October 29th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Bloom Energy in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $93.77.

Bloom Energy Trading Up 14.9%

The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98. The stock’s 50 day moving average is $106.17 and its 200-day moving average is $60.89. The company has a market cap of $27.87 billion, a PE ratio of 583.33, a P/E/G ratio of 66.32 and a beta of 3.00.

Bloom Energy (NYSE:BE) last posted its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The firm had revenue of $519.05 million for the quarter, compared to the consensus estimate of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The business’s quarterly revenue was up 57.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) EPS. As a group, sell-side analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Buying and Selling at Bloom Energy

In related news, insider Satish Chitoori sold 2,085 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $104.08, for a total value of $217,006.80. Following the completion of the sale, the insider directly owned 229,880 shares in the company, valued at $23,925,910.40. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,583 shares of Bloom Energy stock in a transaction on Monday, November 17th. The stock was sold at an average price of $105.97, for a total transaction of $167,750.51. Following the transaction, the insider directly owned 221,633 shares of the company’s stock, valued at $23,486,449.01. The trade was a 0.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 119,589 shares of company stock valued at $16,439,742. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Bloom Energy

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Bloom Energy by 6.3% in the 3rd 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 period. Graticule Asia Macro Advisors LLC bought a new position in shares of Bloom Energy during the third quarter valued at approximately $402,494,000. Geode Capital Management LLC increased its holdings in Bloom Energy by 2.1% during the second quarter. Geode Capital Management LLC now owns 4,756,516 shares of the company’s stock valued at $113,790,000 after buying an additional 95,990 shares during the period. Public Investment Fund increased its holdings in 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 buying an additional 546,372 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its stake in 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 buying an additional 821,814 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other 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.