Key Points
- Bloom Energy director Barbara Burger sold 2,333 shares for about $501,712, reducing her stake by 5.99%; she retained 36,607 shares.
- Third-quarter results topped expectations: earnings were $0.94 per share versus $0.69 forecast, and revenue rose 138% year over year to $1.24 billion.
- Analyst views are mixed, with an average rating of Hold and an average price target of $263.05; recent target changes ranged from UBS raising its target to $350 to JPMorgan lowering its target to $292.
Bloom Energy Corporation (NYSE:BE - Get Free Report) Director Barbara Burger sold 2,333 shares of the stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $215.05, for a total value of $501,711.65. Following the sale, the director directly owned 36,607 shares of the company's stock, valued at approximately $7,872,335.35. This represents a 5.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Bloom Energy Stock Performance
NYSE:BE opened at $167.51 on Friday. The firm's fifty day moving average price is $246.89 and its 200 day moving average price is $220.87. Bloom Energy Corporation has a 1-year low of $75.70 and a 1-year high of $351.28. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.74 and a quick ratio of 3.08. The firm has a market cap of $49.53 billion, a price-to-earnings ratio of 102.77, a price-to-earnings-growth ratio of 2.02 and a beta of 3.63.
Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.25. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.07 billion. Bloom Energy had a net margin of 13.53% and a return on equity of 45.29%. Bloom Energy's quarterly revenue was up 138.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 EPS. On average, sell-side analysts expect that Bloom Energy Corporation will post 2.61 EPS for the current year.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of Bloom Energy from $325.00 to $350.00 and gave the stock a "buy" rating in a research note on Wednesday, October 7th. TD Cowen raised shares of Bloom Energy to a "hold" rating in a report on Monday, October 5th. JPMorgan Chase & Co. reduced their price objective on shares of Bloom Energy from $314.00 to $292.00 and set an "overweight" rating for the company 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, BMO Capital Markets cut Bloom Energy from an "outperform" rating to a "market perform" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $263.05.
View Our Latest Research Report on Bloom Energy
Institutional Investors Weigh In On Bloom Energy
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp increased its holdings in shares of Bloom Energy by 30.4% in the 3rd quarter. Fifth Third Bancorp now owns 58,744 shares of the company's stock valued at $16,271,000 after purchasing an additional 13,683 shares in the last quarter. Artemis Wealth Advisors LLC lifted its stake in shares of Bloom Energy by 50.0% in the third quarter. Artemis Wealth Advisors LLC now owns 12,000 shares of the company's stock valued at $3,324,000 after purchasing an additional 4,000 shares during the period. New Mexico Educational Retirement Board purchased a new stake in Bloom Energy during the third quarter worth about $4,072,000. Maryland State Retirement & Pension System boosted its holdings in Bloom Energy by 15.5% during the third quarter. Maryland State Retirement & Pension System now owns 16,886 shares of the company's stock worth $4,677,000 after buying an additional 2,260 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its holdings in Bloom Energy by 16.9% during the third quarter. Ritholtz Wealth Management now owns 8,605 shares of the company's stock worth $2,383,000 after buying an additional 1,241 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company's stock.
Key Headlines Impacting Bloom Energy
Here are the key news stories impacting Bloom Energy this week:
- Positive Sentiment: Bloom Energy and NTT DATA agreed to deploy up to 900 megawatts of onsite power across multiple data-center projects worldwide, reinforcing demand for Bloom’s fuel cells. NTT DATA agreement with Bloom Energy
- Positive Sentiment: Recent results and guidance remain strong: third-quarter revenue rose 138% year over year to $1.24 billion, earnings beat estimates, and Bloom raised its full-year revenue outlook to $4.4 billion–$4.6 billion. Bloom Energy raises full-year outlook
- Positive Sentiment: Barclays upgraded BE to Overweight, citing demand for reliable onsite power, including from data centers. Barclays upgrade and Bloom demand trends
- Neutral Sentiment: Director Barbara J. Burger sold 2,333 shares, about 6% of her holdings, while director John Chambers also recently disclosed a share sale. Insider sales can attract attention, though both directors retained substantial stakes. SEC filing for Barbara J. Burger transaction
- Negative Sentiment: Investors are concerned that political or regulatory changes after the midterms could slow AI data-center construction and its associated power demand. The broader concern hit fuel-cell and AI-related stocks, despite Bloom’s NTT DATA deal. Bloom Energy slides amid AI data-center concerns
- Negative Sentiment: Some analysts have warned that negative AI-sector sentiment and questions about future growth and margins could pressure the shares; BE’s high valuation may leave it particularly sensitive to shifts in expectations. Analyst downgrades Bloom Energy to Hold
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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