Bloom Energy (NYSE:BE) Hits New 1-Year High – What’s Next?

Bloom Energy Corporation (NYSE:BE) hit a new 52-week high on Wednesday . The stock traded as high as $164.40 and last traded at $162.2810, with a volume of 4854867 shares changing hands. The stock had previously closed at $152.31.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Truist Financial set a $68.00 price objective on shares of Bloom Energy in a report on Friday, January 9th. Morgan Stanley increased their price target on Bloom Energy to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. China Renaissance assumed coverage on shares of Bloom Energy in a research report on Wednesday. They issued a “buy” rating and a $207.00 price objective on the stock. Susquehanna lifted their price target on shares of Bloom Energy to $157.00 and gave the stock a “positive” rating in a report on Wednesday, October 29th. Finally, Wedbush set a $39.00 price objective on shares of Bloom Energy in a report on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $109.83.

Bloom Energy Stock Up 8.1%

The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. The firm has a market cap of $38.96 billion, a P/E ratio of 775.67, a price-to-earnings-growth ratio of 11.76 and a beta of 3.01. The stock’s fifty day moving average is $109.89 and its two-hundred day moving average is $86.14.

Bloom Energy (NYSE:BE) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.07. The firm had revenue of $519.05 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted ($0.01) earnings per share. As a group, research analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,583 shares of Bloom Energy 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 $23,486,449.01. The trade was a 0.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jim H. Snabe sold 20,000 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $143.04, for a total transaction of $2,860,800.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 120,410 shares of company stock worth $16,557,185. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Krilogy Financial LLC bought a new stake in shares of Bloom Energy in the 4th quarter valued at about $246,000. Bayforest Capital Ltd purchased a new position in Bloom Energy in the 4th quarter worth approximately $125,000. Asset Management One Co. Ltd. bought a new stake in Bloom Energy in the fourth quarter valued at approximately $7,574,000. Chicago Capital LLC bought a new stake in Bloom Energy in the fourth quarter valued at approximately $27,549,000. Finally, Merit Financial Group LLC boosted its stake in shares of Bloom Energy by 30.0% during the fourth quarter. Merit Financial Group LLC now owns 3,723 shares of the company’s stock valued at $323,000 after purchasing an additional 859 shares during the period. 77.04% of the stock is owned by institutional investors.

About Bloom Energy

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.