Bloom Energy (NYSE:BE) Stock Price Up 3.5% – Should You Buy?

Bloom Energy Co. (NYSE:BE)’s share price rose 3.5% during trading on Wednesday . The stock traded as high as $10.69 and last traded at $10.61. Approximately 736,835 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 5,851,265 shares. The stock had previously closed at $10.25.

Wall Street Analysts Forecast Growth

BE has been the subject of several recent analyst reports. Bank of America raised their target price on Bloom Energy from $8.00 to $9.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Truist Financial lifted their price objective on Bloom Energy from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and set a $15.00 price objective on shares of Bloom Energy in a research report on Thursday, June 20th. JPMorgan Chase & Co. lifted their price objective on Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Finally, Jefferies Financial Group cut Bloom Energy from a “buy” rating to a “hold” rating and reduced their price objective for the company from $15.00 to $11.00 in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Bloom Energy has a consensus rating of “Hold” and an average price target of $15.88.

Bloom Energy Stock Performance

The firm has a fifty day simple moving average of $10.99 and a 200 day simple moving average of $12.21. The company has a current ratio of 4.65, a quick ratio of 3.33 and a debt-to-equity ratio of 3.43. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of -7.99 and a beta of 2.69.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $335.80 million during the quarter, compared to analysts’ expectations of $307.73 million. Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.32) EPS. As a group, sell-side analysts expect that Bloom Energy Co. will post -0.25 earnings per share for the current year.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 2,094 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total value of $30,425.82. Following the completion of the transaction, the insider now directly owns 168,867 shares of the company’s stock, valued at approximately $2,453,637.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bloom Energy

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Bloom Energy by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 19,528,801 shares of the company’s stock valued at $289,026,000 after buying an additional 307,627 shares during the last quarter. Electron Capital Partners LLC bought a new position in Bloom Energy in the 4th quarter valued at $27,796,000. DekaBank Deutsche Girozentrale boosted its position in Bloom Energy by 762.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 504,591 shares of the company’s stock valued at $5,712,000 after buying an additional 446,074 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Bloom Energy by 99,266.7% in the 1st quarter. Russell Investments Group Ltd. now owns 146,069 shares of the company’s stock valued at $1,642,000 after buying an additional 145,922 shares during the last quarter. Finally, DigitalBridge Group Inc. boosted its position in Bloom Energy by 66.3% in the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after buying an additional 462,581 shares during the last quarter. 77.04% of the stock is currently owned by 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.