Bloom Energy (NYSE:BE) Stock Jumps 4.3% – Still a Buy?

Bloom Energy Corporation (NYSE:BE)’s stock price was up 4.3% during trading on Wednesday. The company traded as high as $231.67 and last traded at $227.8730. Approximately 12,850,643 shares were traded during trading, a decline of 3% from the average daily volume of 13,206,632 shares. The stock had previously closed at $218.50.

Bloom Energy News Summary

Here are the key news stories impacting Bloom Energy this week:

• Positive Sentiment: Bloom Energy’s addition to the S&P 500 in September increases its visibility and can create demand from index-tracking funds. Analysts also see substantial long-term opportunity as data centers and artificial-intelligence infrastructure require reliable power. Bloom Energy Just Joined the S&P 500. Here’s What History Says Happens Next.
• Positive Sentiment: A comparison with Plug Power favors BE on earnings growth, profitability and liquidity, supporting the view that Bloom is one of the stronger companies in the fuel-cell sector. Bloom Energy or Plug Power: Which Offers Better Long-Term Upside Now?
• Positive Sentiment: Recent coverage continues to highlight Bloom’s record quarter and explosive growth potential, while a recent analyst upgrade provided additional support for the stock’s investment case. Bloom Energy stock faces cash-flow test after record quarter

Analyst Upgrades and Downgrades

BE has been the topic of several research reports. Zacks Research lowered Bloom Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. Wells Fargo & Company upped their target price on shares of Bloom Energy from $176.00 to $182.00 and gave the company an “equal weight” rating in a research note on Monday. BMO Capital Markets restated an “outperform” rating and issued a $260.00 target price on shares of Bloom Energy in a research report on Wednesday, October 21st. JPMorgan Chase & Co. decreased their price target on Bloom Energy from $314.00 to $292.00 and set an “overweight” rating for the company in a research note on Friday, October 23rd. Finally, Evercore restated an “outperform” rating on shares of Bloom Energy in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and a consensus target price of $264.33.

Bloom Energy Stock Performance

The company has a market capitalization of $59.63 billion, a P/E ratio of 124.21, a PEG ratio of 2.36 and a beta of 3.77. The company’s 50-day moving average is $248.16 and its two-hundred day moving average is $219.47. The company has a quick ratio of 3.08, a current ratio of 3.74 and a debt-to-equity ratio of 1.33.

Bloom Energy (NYSE:BE) last posted its earnings results on Thursday, October 22nd. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.25. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.07 billion. Bloom Energy had a net margin of 13.53% and a return on equity of 45.29%. The firm’s revenue was up 138.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 EPS. Equities analysts anticipate that Bloom Energy Corporation will post 2.55 earnings per share for the current fiscal year.

Insider Activity

In other Bloom Energy news, Director Jeffrey R. Immelt sold 30,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $238.91, for a total transaction of $7,167,300.00. Following the completion of the transaction, the director owned 201,243 shares in the company, valued at $48,078,965.13. This trade represents a 12.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shawn Soderberg sold 2,870 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $270.07, for a total value of $775,100.90. Following the completion of the sale, the insider owned 126,500 shares in the company, valued at approximately $34,163,855. This trade represents a 2.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 89,698 shares of company stock valued at $21,780,758 over the last 90 days. Insiders own 3.00% of the company’s stock.

Institutional Trading of Bloom Energy

A number of large investors have recently added to or reduced their stakes in BE. Montanova Capital LLC purchased a new stake in Bloom Energy in the 2nd quarter valued at approximately $10,231,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Bloom Energy by 78.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,327,549 shares of the company’s stock worth $401,849,000 after acquiring an additional 583,135 shares in the last quarter. Militia Capital Management LLC acquired a new stake in shares of Bloom Energy during the 1st quarter worth approximately $813,000. Assenagon Asset Management S.A. boosted its position in shares of Bloom Energy by 3,398.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 239,877 shares of the company’s stock worth $72,611,000 after purchasing an additional 233,020 shares during the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new position in Bloom Energy during the first quarter worth $8,468,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Company Profile

Bloom Energy Corporation develops and manufactures energy systems designed to generate electricity on-site. Its primary product is the Bloom Energy Server, a solid oxide fuel cell platform that converts fuel into electricity through an electrochemical process rather than combustion. The systems are used by businesses, utilities, data centers and other organizations seeking reliable, distributed power.

The company also develops electrolyzers based on its solid oxide technology. These systems are designed to produce hydrogen from electricity and water and support applications related to industrial operations, energy storage and the emerging hydrogen economy.