Bloom Energy (NYSE:BE) Shares Surge After Analyst Upgrade

Bloom Energy Co. (NYSE:BE) saw its stock price increase before trading began on Thursday, following an upgrade from Morgan Stanley. The firm raised its price target for Bloom Energy shares from $28.00 to $35.00. Previously, the stock had closed at $24.31 but opened at $25.20. As of the latest trades, Bloom Energy shares were priced at $25.62, with a trading volume of 1,402,072 shares.

Analyst Ratings and Upgrades

In addition to Morgan Stanley’s upgrade, several other equities research analysts have commented on Bloom Energy. For example, on December 6th, Susquehanna raised their price target from $20.00 to $33.00 and assigned a "positive" rating to the stock. Roth Capital also upgraded Bloom Energy to a "hold" rating on December 10th. On December 12th, Robert W. Baird lifted their price target from $15.00 to $32.00, giving the stock an "outperform" rating. Previously, Jefferies Financial Group increased their price target from $12.00 to $22.00 while maintaining a "hold" rating. More recently, BTIG Research set a new target price of $30.00 on December 16th, with a "buy" rating. Overall, one analyst has rated the stock as a sell, eleven have given it a hold rating, eight have issued buy ratings, and one has granted a strong buy rating. According to MarketBeat, Bloom Energy currently holds a consensus rating of "Hold" with an average target price of $25.06.

Insider Transactions

In other company news, insider Satish Chitoori sold 1,020 shares of Bloom Energy on March 17th at an average price of $25.09, totaling $25,591.80. This transaction lowered Chitoori's ownership stake, which now consists of 178,656 shares valued at approximately $4,482,479.04. Another insider, Shawn Marie Soderberg, sold 1,639 shares on January 16th at an average price of $23.42 for a total of $38,385.38. After this sale, Soderberg's ownership fell to 171,040 shares worth about $4,005,756.80. Insiders currently own 8.81% of Bloom Energy stock.

Institutional Investors' Activity

Several large investors have recently adjusted their stakes in Bloom Energy. SPX Gestao de Recursos Ltda acquired a new stake valued at $4,442,000 during the fourth quarter. Likewise, Duff & Phelps Investment Management established a new position valued at around $517,000 in the third quarter. Mirae Asset Global Investments increased their stake in Bloom Energy by 184.7% in the fourth quarter, owning 404,204 shares worth about $9,209,000 after purchasing an additional 262,247 shares. Other notable activities include Edgestream Partners L.P. buying a new stake worth $3,274,000 during the third quarter, and Charles Schwab Investment Management raising its ownership in Bloom Energy by 0.6% in the fourth quarter, now holding 1,654,087 shares with a total value of approximately $36,737,000. Currently, institutional investors possess around 77.04% of the company's stock.

Bloom Energy Performance Metrics

Bloom Energy has a market capitalization of $6.00 billion, a price-to-earnings ratio of -46.48, and a beta of 3.30. The company maintains a debt-to-equity ratio of 3.09, with a quick ratio of 2.33 and a current ratio of 3.36. Its stock is supported by a 50-day moving average price of $24.08 and a 200-day moving average price of $19.18.

About Bloom Energy

Bloom Energy Corporation specializes in designing, manufacturing, selling, and installing solid-oxide fuel cell systems aimed at on-site power generation both in the United States and internationally. The company's signature product, the Bloom Energy Server, employs solid oxide technology to transform fuel—such as natural gas, biogas, or hydrogen—into electricity via an electrochemical process that avoids combustion.

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