Bloom Energy (NYSE:BE) Director Sells 8,828 Shares of Stock

by · The Markets Daily

Bloom Energy Corporation (NYSE:BE – Get Free Report) Director John Chambers sold 8,828 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $203.43, for a total value of $1,795,880.04. Following the completion of the transaction, the director owned 199,505 shares of the company’s stock, valued at approximately $40,585,302.15. The trade was a 4.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Bloom Energy Stock Performance

Shares of Bloom Energy stock traded up $17.80 on Tuesday, reaching $214.05. 14,053,134 shares of the stock were exchanged, compared to its average volume of 13,233,709. The business has a 50 day moving average price of $248.07 and a two-hundred day moving average price of $220.08. The firm has a market capitalization of $63.04 billion, a price-to-earnings ratio of 131.32, a PEG ratio of 2.36 and a beta of 3.77. Bloom Energy Corporation has a twelve month low of $75.70 and a twelve month high of $351.28. The company has a quick ratio of 3.08, a current ratio of 3.74 and a debt-to-equity ratio of 1.33.

Bloom Energy (NYSE:BE – Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.25. Bloom Energy had a net margin of 13.53% and a return on equity of 45.29%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company earned $0.15 EPS. Bloom Energy’s quarterly revenue was up 138.1% on a year-over-year basis. Analysts anticipate that Bloom Energy Corporation will post 2.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. UBS Group upped their price objective on shares of Bloom Energy from $325.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, October 7th. Citigroup raised their target price on shares of Bloom Energy from $281.00 to $284.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. Royal Bank Of Canada restated an “outperform” rating and set a $335.00 target price on shares of Bloom Energy in a research report on Friday, October 23rd. Evercore reaffirmed an “outperform” rating on shares of Bloom Energy in a report on Monday, October 26th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $242.00 price target on shares of Bloom Energy in a report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and a consensus target price of $263.05.

Get Our Latest Analysis on Bloom Energy

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BE. Jennison Associates LLC boosted its holdings in Bloom Energy by 20,074.4% during the 1st quarter. Jennison Associates LLC now owns 2,687,029 shares of the company’s stock valued at $364,066,000 after acquiring an additional 2,673,710 shares during the period. Bank of New York Mellon Corp purchased a new stake in Bloom Energy during the second quarter worth about $296,413,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Bloom Energy by 78.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,327,549 shares of the company’s stock worth $401,849,000 after purchasing an additional 583,135 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Bloom Energy during the third quarter worth about $158,620,000. Finally, Bessemer Group Inc. lifted its position in shares of Bloom Energy by 228.0% during the first quarter. Bessemer Group Inc. now owns 587,947 shares of the company’s stock worth $79,660,000 after purchasing an additional 408,687 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

More Bloom Energy News

Here are the key news stories impacting Bloom Energy this week:

  • Positive Sentiment: Bloom and California Resources Corporation, together with CRC’s Carbon TerraVault subsidiary, signed an MOU to evaluate at least 1 gigawatt of solid-oxide fuel-cell power paired with carbon capture and storage in California. The proposed projects could serve utilities, data centers, and industrial customers. Bloom Energy carbon-captured power deal
  • Positive Sentiment: Barclays upgraded Bloom to Overweight from Equal Weight, citing stronger prospects for firm, on-site power demand, including from AI data centers. It set a $289 price target, though that is down from its previous $316 target. Barclays upgrade and AI data-center demand
  • Neutral Sentiment: The California initiative is a non-binding MOU to evaluate potential projects, not a confirmed order. Converting the gigawatt-scale plan into customer commitments and revenue will depend on development, permitting, and execution. Bloom Energy gains on California tie-up and Barclays upgrade
  • Negative Sentiment: Bloom’s elevated valuation leaves the stock vulnerable if expected growth or project conversion disappoints. The Barclays target reduction also tempers the positive signal from its rating upgrade.

About Bloom Energy

(Get Free Report)

Bloom Energy Corporation develops and manufactures energy systems designed to generate electricity on-site. Its primary product is the Bloom Energy Server, a solid oxide fuel cell platform that converts fuel into electricity through an electrochemical process rather than combustion. The systems are used by businesses, utilities, data centers and other organizations seeking reliable, distributed power.

The company also develops electrolyzers based on its solid oxide technology. These systems are designed to produce hydrogen from electricity and water and support applications related to industrial operations, energy storage and the emerging hydrogen economy.

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