Bloom Energy (NYSE:BE) Price Target Raised to $73.00

Bloom Energy (NYSE:BE - Get Free Report) had its price target hoisted by equities researchers at Roth Capital from $34.00 to $73.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Roth Capital's price objective would indicate a potential downside of 12.57% from the stock's previous close.

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Several other research analysts also recently commented on the company. Mizuho increased their price objective on Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. UBS Group upped their target price on Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a report on Friday, July 25th. Wells Fargo & Company upped their target price on Bloom Energy from $38.00 to $65.00 and gave the company an "equal weight" rating in a report on Friday, September 12th. Morgan Stanley upped their target price on Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Robert W. Baird increased their price target on Bloom Energy from $45.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $32.13.

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Bloom Energy Stock Up 3.1%

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Shares of BE stock traded up $2.53 during trading hours on Friday, reaching $83.50. 8,996,992 shares of the company's stock were exchanged, compared to its average volume of 7,842,565. Bloom Energy has a 1 year low of $9.02 and a 1 year high of $85.24. The stock has a market cap of $19.54 billion, a PE ratio of 2,088.02 and a beta of 3.28. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. The stock's fifty day moving average price is $44.78 and its two-hundred day moving average price is $28.92.

Bloom Energy (NYSE:BE - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.08. The firm had revenue of $401.24 million for the quarter, compared to analyst estimates of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.Bloom Energy's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. Bloom Energy has set its FY 2025 guidance at EPS. Research analysts predict that Bloom Energy will post -0.23 EPS for the current year.

Insider Activity at Bloom Energy

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In other Bloom Energy news, CEO Kr Sridhar sold 60,000 shares of Bloom Energy stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the transaction, the chief executive officer owned 2,368,951 shares of the company's stock, valued at $117,736,864.70. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Aman Joshi sold 4,870 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $43.36, for a total value of $211,163.20. Following the sale, the insider owned 224,361 shares of the company's stock, valued at $9,728,292.96. This trade represents a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 302,205 shares of company stock valued at $14,919,283 over the last 90 days. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. grew its holdings 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 acquiring an additional 26,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Bloom Energy by 634.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company's stock valued at $11,763,000 after purchasing an additional 516,833 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Bloom Energy by 662.4% in the first quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company's stock valued at $1,445,000 after purchasing an additional 63,875 shares during the last quarter. Comerica Bank grew its holdings in Bloom Energy by 5.8% in the first quarter. Comerica Bank now owns 88,554 shares of the company's stock valued at $1,741,000 after purchasing an additional 4,885 shares during the last quarter. Finally, Torray Investment Partners LLC acquired a new stake in Bloom Energy in the first quarter valued at $904,000. Institutional investors and hedge funds own 77.04% of the company's stock.

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.

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