Bloom Energy Corporation has received a “Moderate Buy” consensus rating from 20 brokers monitoring the stock, with two analysts suggesting a sell, six a hold, ten a buy, and two a strong buy designation. The average target price set by these analysts stands at $24.53 for the next twelve months.
In recent months, various research reports have shaped the sentiment towards Bloom Energy. Notably, JPMorgan Chase upgraded the stock from a “neutral” to an “overweight” rating, significantly increasing its price target from $18 to $33. In contrast, Redburn Atlantic lowered their rating from “neutral” to “sell,” adjusting their price target downward from $14.50 to $10. Additionally, Mizuho raised its target price from $26 to $31, affirming an “outperform” rating. Meanwhile, Robert W. Baird retracted its price target from $32 to $27 while maintaining an “outperform” rating.
Insider trading has also been notable, with the sale of 8,733 shares by Maciej Kurzymski and 4,658 shares by Aman Joshi earlier this year. This activity led to a reduction in their ownership percentage, indicating possible profit-taking by insiders. Over the last three months, a total of 63,513 shares were sold by company insiders, who collectively own 3.50% of Bloom Energy.
On the institutional investment front, firms have shown increased interest, with significant stakes being acquired by various hedge funds. For instance, Banque Transatlantique SA raised its position by 227.6%, while NewEdge Advisors LLC increased their risk exposure by about 674.7%.
Bloom Energy’s shares saw a 2.4% increase recently, closing at $25.96, with strong trading volumes following a bullish trend. The company’s debt-to-equity ratio stands at 2.07, revealing its financial leverage. The stock’s performance in the last year has been noteworthy, having ranged from a low of $9.02 to a high of $29.83.
In their recent quarterly earnings reported in April, Bloom Energy exceeded expectations, reporting earnings per share of $0.03 compared to the predicted loss, and a revenue increase of 38.5% over the previous year. The company has shown resilience in a challenging economic climate, suggesting a potential for growth in the burgeoning clean energy market.
As Bloom Energy continues to innovate within the fuel cell technology sector, its focus on solid-oxide fuel cell systems positions it strongly amid an increasing global demand for sustainable energy solutions. This optimistic outlook reflects a growing recognition of clean energy technologies as vital components of future power generation.