Bloom Energy (NYSE:BE) Trading 4.4% Higher on Analyst Upgrade

Shares of Bloom Energy Co. (NYSE:BE) traded up 4.4% during trading on Thursday after Robert W. Baird raised their price target on the stock from $15.00 to $32.00. Robert W. Baird currently has an outperform rating on the stock. Bloom Energy traded as high as $24.88 and last traded at $24.63. 693,170 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 6,569,111 shares. The stock had previously closed at $23.60.

A number of other equities analysts have also recently weighed in on BE. Piper Sandler raised their price objective on Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Hsbc Global Res upgraded shares of Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. HSBC downgraded Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective on the stock. in a report on Wednesday, November 20th. BTIG Research increased their target price on Bloom Energy from $16.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Jefferies Financial Group increased their price objective on Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.92.

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 transaction of $31,657.84. Following the transaction, the insider now owns 168,561 shares in the company, valued at $4,139,858.16. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kr Sridhar sold 72,903 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,975 shares of company stock valued at $3,045,019. 8.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Mizuho Markets Americas LLC raised its position in shares of Bloom Energy by 8.2% in the third quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock worth $4,335,000 after acquiring an additional 31,189 shares during the period. Duff & Phelps Investment Management Co. acquired a new position in Bloom Energy in the 3rd quarter worth about $517,000. Parametrica Management Ltd purchased a new position in Bloom Energy during the third quarter worth approximately $785,000. Edgestream Partners L.P. acquired a new stake in Bloom Energy in the third quarter valued at approximately $3,274,000. Finally, Penserra Capital Management LLC increased its position in shares of Bloom Energy by 20.7% in the third quarter. Penserra Capital Management LLC now owns 165,660 shares of the company’s stock valued at $1,749,000 after buying an additional 28,416 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Trading Up 5.1 %

The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of -44.29 and a beta of 3.04. The company has a 50 day moving average price of $16.60 and a two-hundred day moving average price of $13.96. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Bloom Energy Company Profile

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.