Bloom Energy (NYSE:BE) Trading Up 7.9% – Here’s What Happened

Bloom Energy Corporation (NYSE:BE) shares rose 7.9% during mid-day trading on Thursday . The stock traded as high as $143.10 and last traded at $143.9910. Approximately 5,418,568 shares were traded during trading, a decline of 59% from the average daily volume of 13,124,610 shares. The stock had previously closed at $133.46.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wedbush set a $39.00 target price on shares of Bloom Energy in a research note on Tuesday, November 25th. Susquehanna raised their price objective on shares of Bloom Energy to $157.00 and gave the company a “positive” rating in a research note on Wednesday, October 29th. Mizuho set a $89.00 target price on shares of Bloom Energy in a research report on Wednesday, October 29th. Evercore ISI reissued an “outperform” rating on shares of Bloom Energy in a research note on Thursday, January 8th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Bloom Energy in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Bloom Energy currently has a consensus rating of “Hold” and an average price target of $96.00.

Bloom Energy Price Performance

The company has a 50 day moving average of $105.31 and a 200 day moving average of $78.02. 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 $33.27 billion, a price-to-earnings ratio of 760.39, a P/E/G ratio of 11.77 and a beta of 3.01.

Bloom Energy (NYSE:BE) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.07. The company had revenue of $519.05 million during the quarter, compared to the consensus estimate of $425.18 million. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The company’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 company earned ($0.01) earnings per share. Equities research analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Transactions at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 36,666 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $141.00, for a total value of $5,169,906.00. Following the completion of the transaction, the insider directly owned 225,949 shares of the company’s stock, valued at approximately $31,858,809. This represents a 13.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary K. Bush sold 36,000 shares of Bloom Energy stock in a transaction dated 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 completion of the sale, the director directly owned 133,524 shares in the company, valued at $19,069,897.68. This represents a 21.24% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 120,410 shares of company stock valued at $16,557,185. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bloom Energy

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Bloom Energy by 6.3% in the third quarter. Vanguard Group Inc. now owns 20,807,920 shares of the company’s stock valued at $1,759,726,000 after acquiring an additional 1,240,819 shares during the last quarter. Graticule Asia Macro Advisors LLC bought a new position in Bloom Energy in the third quarter valued at approximately $402,494,000. Geode Capital Management LLC raised its stake in shares of Bloom Energy by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 4,756,516 shares of the company’s stock worth $113,790,000 after purchasing an additional 95,990 shares in the last quarter. Trivest Advisors Ltd boosted its holdings in shares of Bloom Energy by 1,461.6% in the 3rd quarter. Trivest Advisors Ltd now owns 3,420,000 shares of the company’s stock valued at $289,229,000 after buying an additional 3,201,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Bloom Energy by 50.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock valued at $49,127,000 after buying an additional 836,810 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.