Bloom Energy (NYSE:BE) Sets New 1-Year High – Here’s Why

Bloom Energy Co. (NYSE:BE)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $28.70 and last traded at $27.21, with a volume of 12065362 shares traded. The stock had previously closed at $26.17.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Susquehanna increased their price objective on Bloom Energy from $13.00 to $16.00 and gave the stock a “positive” rating in a report on Tuesday, November 12th. Bank of America cut their target price on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a report on Thursday, November 7th. Robert W. Baird cut their target price on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. UBS Group raised their target price on Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Royal Bank of Canada raised their target price on Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Bloom Energy has an average rating of “Hold” and a consensus target price of $19.14.

Bloom Energy Trading Up 4.0 %

The firm has a market cap of $6.22 billion, a P/E ratio of -50.20 and a beta of 2.71. The company’s 50 day moving average is $12.87 and its two-hundred day moving average is $12.93. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the transaction, the insider now directly owns 168,561 shares in the company, valued at $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kr Sridhar sold 72,903 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the transaction, the chief executive officer now owns 1,869,593 shares in the company, valued at $46,777,216.86. This represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock worth $3,045,019 over the last three months. Company insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Several large investors have recently modified their holdings of BE. Vanguard Group Inc. grew its stake in shares of Bloom Energy by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after purchasing an additional 156,434 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Bloom Energy by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 116,882 shares of the company’s stock valued at $1,314,000 after purchasing an additional 6,902 shares during the period. Tidal Investments LLC bought a new stake in shares of Bloom Energy in the 1st quarter valued at approximately $370,000. Comerica Bank grew its stake in shares of Bloom Energy by 222.8% in the 1st quarter. Comerica Bank now owns 23,884 shares of the company’s stock valued at $268,000 after purchasing an additional 16,484 shares during the period. Finally, Cetera Advisors LLC grew its stake in shares of Bloom Energy by 201.2% in the 1st quarter. Cetera Advisors LLC now owns 37,019 shares of the company’s stock valued at $416,000 after purchasing an additional 24,730 shares during the period. 77.04% of the stock is currently owned by institutional investors.

About Bloom Energy

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.