Bloom Energy Co. (NYSE:BE) Given Consensus Rating of “Hold” by Brokerages

Bloom Energy Co. (NYSE:BE) has earned a consensus rating of “Hold” from the twenty-one research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $19.14.

BE has been the subject of a number of research reports. Hsbc Global Res upgraded shares of Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. Jefferies Financial Group lifted their price objective on Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. HSBC downgraded Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective for the company. in a research report on Wednesday, November 20th. Piper Sandler lifted their price objective on Bloom Energy from $20.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, Royal Bank of Canada lifted their price objective on Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th.

Bloom Energy Price Performance

Shares of NYSE:BE opened at $25.96 on Friday. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The company has a market cap of $5.93 billion, a P/E ratio of -46.36 and a beta of 3.04. Bloom Energy has a 52 week low of $8.41 and a 52 week high of $28.70. The company has a 50-day moving average price of $15.15 and a 200 day moving average price of $13.62.

Insider Activity

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the sale, the insider now owns 168,561 shares in the company, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kr Sridhar sold 46,697 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the transaction, the chief executive officer now directly owns 1,822,496 shares in the company, valued at $45,562,400. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,975 shares of company stock worth $3,045,019. 8.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

A number of large investors have recently bought and sold shares of BE. Franklin Resources Inc. raised its holdings in shares of Bloom Energy by 62.4% during the third quarter. Franklin Resources Inc. now owns 125,598 shares of the company’s stock valued at $1,314,000 after buying an additional 48,258 shares during the last quarter. Peapack Gladstone Financial Corp raised its holdings in shares of Bloom Energy by 4.4% during the third quarter. Peapack Gladstone Financial Corp now owns 271,924 shares of the company’s stock valued at $2,871,000 after buying an additional 11,525 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Bloom Energy during the third quarter valued at approximately $34,000. Duff & Phelps Investment Management Co. bought a new stake in shares of Bloom Energy during the third quarter valued at approximately $517,000. Finally, Pier Capital LLC raised its holdings in shares of Bloom Energy by 0.9% during the third quarter. Pier Capital LLC now owns 461,744 shares of the company’s stock valued at $4,876,000 after buying an additional 4,082 shares during the last quarter. Institutional investors own 77.04% of the company’s stock.

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.