Key Points
- Director John Chambers sold 8,828 Bloom Energy shares for about $1.8 million, reducing his stake by 4.24%; he retained 199,505 shares.
- Bloom reported third-quarter revenue of $1.24 billion, up 138% year over year, and EPS of $0.94, beating analyst estimates; it also raised full-year revenue guidance to $4.4 billion–$4.6 billion.
- A proposed collaboration with California Resources could evaluate at least 1 gigawatt of fuel-cell power paired with carbon capture, but the agreement is non-binding and not yet a firm order.
Bloom Energy Corporation (NYSE:BE - Get Free Report) Director John Chambers sold 8,828 shares of the company's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $203.43, for a total transaction of $1,795,880.04. Following the completion of the transaction, the director owned 199,505 shares in the company, valued at approximately $40,585,302.15. This represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Bloom Energy Stock Performance
NYSE:BE opened at $214.05 on Wednesday. Bloom Energy Corporation has a fifty-two week low of $75.70 and a fifty-two week high of $351.28. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.08 and a current ratio of 3.74. The company has a 50 day moving average price of $248.26 and a 200 day moving average price of $220.48. The stock has a market capitalization of $63.28 billion, a P/E ratio of 131.32, a PEG ratio of 1.98 and a beta of 3.63.
Bloom Energy (NYSE:BE - Get Free Report) last announced its earnings results on Thursday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.25. Bloom Energy had a return on equity of 45.29% and a net margin of 13.53%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the company earned $0.15 earnings per share. The firm's quarterly revenue was up 138.1% compared to the same quarter last year. Equities research analysts forecast that Bloom Energy Corporation will post 2.61 EPS for the current year.
Key Bloom Energy News
Here are the key news stories impacting Bloom Energy this week:
- Positive Sentiment: Bloom and California Resources Corporation, including its Carbon TerraVault business, signed a non-binding MOU to evaluate at least 1 gigawatt of Bloom solid-oxide fuel-cell power paired with carbon capture and storage. The proposed projects could serve utilities, data centers and industrial customers, opening a sizable commercial opportunity. California Resources Corporation Announces Strategic Collaboration with Bloom Energy
- Positive Sentiment: Barclays upgraded Bloom to Overweight from Equal Weight, citing prospects for firm, on-site power, including demand from AI data centers. The analyst’s $289 price target still implies substantial potential upside from the price cited in the coverage, although it was reduced from $316. Bloom Energy Stock Upgrade Points to Staying Power for AI Data Centers
- Positive Sentiment: Recent operating results provide support for the growth story: Bloom reported third-quarter revenue of $1.24 billion, up 138% year over year, and raised its full-year revenue guidance to $4.4 billion–$4.6 billion. Why Did Bloom Energy Stock Jump Today?
- Neutral Sentiment: Director John Chambers sold 8,828 shares for about $1.8 million, reducing his stake by 4.24%; he still owned 199,505 shares after the transaction. SEC ownership filing
- Negative Sentiment: The California initiative remains an evaluation-stage, non-binding MOU, so the proposed capacity is not yet a firm order. Bloom’s elevated valuation also leaves the shares vulnerable if projects are delayed or fail to convert into revenue-generating contracts.
Institutional Trading of Bloom Energy
Hedge funds have recently modified their holdings of the stock. Continuum Advisory LLC acquired a new stake in Bloom Energy in the 2nd quarter valued at about $25,000. Trifecta Capital Advisors LLC acquired a new position in shares of Bloom Energy during the third quarter worth about $26,000. REAP Financial Group LLC acquired a new position in shares of Bloom Energy during the third quarter worth about $28,000. MJT & Associates Financial Advisory Group Inc. grew its position in shares of Bloom Energy by 49.3% during the second quarter. MJT & Associates Financial Advisory Group Inc. now owns 112 shares of the company's stock worth $34,000 after buying an additional 37 shares in the last quarter. Finally, Markowski Investments purchased a new stake in shares of Bloom Energy during the second quarter worth approximately $37,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
BE has been the topic of several research analyst reports. BTIG Research cut their price objective on Bloom Energy from $295.00 to $250.00 and set a "buy" rating on the stock in a report on Friday, October 23rd. Morgan Stanley raised their target price on Bloom Energy from $310.00 to $335.00 and gave the company an "overweight" rating in a report on Friday, October 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $335.00 target price on shares of Bloom Energy in a research report on Friday, October 23rd. Wall Street Zen lowered shares of Bloom Energy from a "buy" rating to a "hold" rating in a research note on Saturday, October 24th. Finally, Clear Str upgraded shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $263.05.
Read Our Latest Analysis on BE
Bloom Energy Company Profile
(
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.
See Also
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