Bloom Energy (NYSE:BE) Shares Gap Up - Should You Buy?

Bloom Energy Co. (NYSE:BE) shares saw a significant increase at the start of trading on Friday. The stock had closed the previous day at $22.39 but opened at $22.96. As of the last update, Bloom Energy shares were trading at $22.82, with a total volume of 470,801 shares exchanged.

Analysts Set New Price Targets

Bloom Energy is being recognized as a key player in decentralized energy solutions. Recent commentary from various research firms has spotlighted the stock. Morgan Stanley recently raised its price target for Bloom Energy from $20.00 to $28.00, classifying the stock as "overweight" in a report released on November 18. Meanwhile, JPMorgan Chase & Co. elevated its price target from $14.00 to $16.00, maintaining a "neutral" stance in their January 23 report. Robert W. Baird has increased its forecast from $15.00 to $32.00, giving it an "outperform" rating as of December 12. Additionally, Roth Capital upgraded Bloom Energy to a "hold" rating on December 10, while HSBC Global Research also offered a "hold" rating on November 20. The analyst consensus indicates one sell rating, ten hold ratings, eight buy ratings, and one strong buy rating, leading to an average target price of $24.47 according to MarketBeat.com.

Bloom Energy Stock Performance

The company's market capitalization stands at $5.04 billion, and it currently has a price-to-earnings ratio of -39.39. The stock exhibits a beta of 3.30, indicating high volatility. Its fifty-day moving average is $24.00, while the 200-day moving average is $18.36. Financial metrics include a debt-to-equity ratio of 3.09, a current ratio of 3.36, and a quick ratio of 2.33.

Insider Activity

In recent insider transactions, Shawn Marie Soderberg sold 1,639 shares of Bloom Energy on January 16 at an average price of $23.42, amounting to a total of $38,385.38. Following this sale, Soderberg's direct ownership of the stock decreased by 0.95%, leaving her with 171,040 shares valued at approximately $4,005,756.80. This transaction was disclosed in a filing with the SEC, where insiders reportedly hold 3.50% of the company's shares.

Hedge Funds Weigh In On Bloom Energy

Several prominent investors have been active in buying and selling Bloom Energy shares recently. In the fourth quarter, Vanguard Group Inc. increased its stake by 1.9%, now owning about 19,234,329 shares valued at $427,194,000 after purchasing an additional 356,317 shares. Norges Bank also acquired a new stake worth $93,951,000. Fuller & Thaler Asset Management Inc. made a new investment worth $61,968,000, while JAT Capital Management LP raised its position by 50.0% during the third quarter, now holding 2,198,974 shares worth $23,221,000. Legal & General Group Plc also expanded its holdings by 7.3%, now owning 2,133,318 shares valued at $47,381,000. Altogether, institutional investors and hedge funds own 77.04% of Bloom Energy's stock.

Bloom Energy Company Profile

Bloom Energy Corporation specializes in the design, manufacturing, selling, and installation of solid-oxide fuel cell systems for on-site power generation both domestically and internationally. The company's flagship product, the Bloom Energy Server, utilizes solid oxide technology that converts various fuels, including natural gas, biogas, and hydrogen, into electricity through an electrochemical process without combustion.

Consideration Before Investing

Before considering an investment in Bloom Energy, it's advisable to review current analyst opinions. While its current rating among analysts is "Hold," research indicates that several analysts suggest there are potentially better investment opportunities elsewhere.

BloomEnergy, Stocks, Analysts