Bloom Energy (NYSE:BE) Sets New 1-Year High – Here’s Why

Bloom Energy Corporation (NYSE:BE) shares reached a new 52-week high on Thursday . The company traded as high as $155.87 and last traded at $150.50, with a volume of 12654404 shares trading hands. The stock had previously closed at $151.75.

Wall Street Analysts Forecast Growth

BE has been the subject of a number of recent research reports. Jefferies Financial Group reissued an “underperform” rating and issued a $53.00 target price on shares of Bloom Energy in a research report on Friday, October 31st. Royal Bank Of Canada set a $143.00 price objective on Bloom Energy in a report on Tuesday. Robert W. Baird set a $157.00 price objective on shares of Bloom Energy in a report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bloom Energy in a research report on Thursday, October 30th. Finally, Susquehanna lifted 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, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Bloom Energy presently has an average rating of “Hold” and an average price target of $100.57.

Bloom Energy Trading Down 0.8%

The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. The stock has a market cap of $35.59 billion, a P/E ratio of 843.06, a PEG ratio of 12.78 and a beta of 3.01. The firm’s fifty day moving average price is $106.78 and its two-hundred day moving average price is $82.37.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data 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 company 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%. Bloom Energy’s revenue for the quarter was up 57.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) earnings per share. As a group, equities research analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insiders Place Their Bets

In related news, insider Aman Joshi sold 4,543 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $109.13, for a total transaction of $495,777.59. Following the transaction, the insider owned 219,818 shares in the company, valued at $23,988,738.34. The trade was a 2.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary K. Bush sold 36,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $142.82, for a total value of $5,141,520.00. Following the transaction, the director owned 133,524 shares of the company’s stock, valued at approximately $19,069,897.68. This represents a 21.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 120,410 shares of company stock worth $16,557,185. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Westfuller Advisors LLC purchased a new position in shares of Bloom Energy in the 4th quarter worth about $106,000. Prime Capital Investment Advisors LLC grew its stake in shares of Bloom Energy by 3.5% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 2,928 shares of the company’s stock worth $254,000 after acquiring an additional 98 shares during the period. Yousif Capital Management LLC grew its stake in shares of Bloom Energy by 14.9% in the fourth quarter. Yousif Capital Management LLC now owns 2,735 shares of the company’s stock worth $238,000 after acquiring an additional 355 shares during the period. Mezzasalma Advisors LLC raised its holdings in shares of Bloom Energy by 45.5% during the fourth quarter. Mezzasalma Advisors LLC now owns 75,335 shares of the company’s stock valued at $6,546,000 after purchasing an additional 23,569 shares during the last quarter. Finally, Trust Investment Advisors lifted its position in Bloom Energy by 15.1% during the fourth quarter. Trust Investment Advisors now owns 16,286 shares of the company’s stock valued at $1,415,000 after purchasing an additional 2,135 shares during the period. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Company Profile

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.