Bloom Energy (NYSE:BE) Shares Gap Up – Still a Buy?

Bloom Energy Corporation (NYSE:BE) gapped up prior to trading on Thursday . The stock had previously closed at $76.97, but opened at $82.91. Bloom Energy shares last traded at $80.6250, with a volume of 3,190,190 shares trading hands.

Wall Street Analysts Forecast Growth

BE has been the topic of several research analyst reports. Mizuho set a $89.00 price objective on Bloom Energy in a report on Wednesday, October 29th. Evercore ISI reiterated an “outperform” rating on shares of Bloom Energy in a research note on Monday, October 13th. Bank of America raised their price objective on shares of Bloom Energy from $26.00 to $39.00 and gave the company an “underperform” rating in a research note on Tuesday, November 25th. Wells Fargo & Company lifted their price objective on shares of Bloom Energy to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $93.77.

Bloom Energy Stock Up 6.6%

The firm’s 50-day moving average price is $110.00 and its two-hundred day moving average price is $66.68. 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 $19.41 billion, a PE ratio of 486.72, a P/E/G ratio of 55.33 and a beta of 3.00.

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

Insiders Place Their Bets

In related news, insider Shawn Marie Soderberg sold 1,583 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $105.97, for a total value of $167,750.51. Following the completion of the sale, the insider directly owned 221,633 shares of the company’s stock, valued at $23,486,449.01. This represents a 0.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Satish Chitoori sold 2,085 shares of Bloom Energy stock in a transaction that occurred 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 transaction, the insider directly owned 229,880 shares in the company, valued at approximately $23,925,910.40. This trade represents a 0.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 116,715 shares of company stock worth $16,236,935. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. boosted its position in Bloom Energy by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company’s stock worth $1,704,000 after purchasing an additional 26,077 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of Bloom Energy during the 2nd quarter worth $108,000. Mizuho Markets Americas LLC raised its stake in shares of Bloom Energy by 29.9% during the 2nd quarter. Mizuho Markets Americas LLC now owns 395,490 shares of the company’s stock worth $9,460,000 after buying an additional 90,980 shares during the last quarter. Comerica Bank boosted its position in shares of Bloom Energy by 5.8% in the 1st quarter. Comerica Bank now owns 88,554 shares of the company’s stock worth $1,741,000 after buying an additional 4,885 shares in the last quarter. Finally, Jump Financial LLC grew its stake in Bloom Energy by 137.8% in the 2nd quarter. Jump Financial LLC now owns 332,722 shares of the company’s stock valued at $7,959,000 after acquiring an additional 192,790 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Company Profile

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.