Bloom Energy Co. (NYSE:BE) Receives $22.45 Consensus PT from Brokerages

Shares of Bloom Energy Co. (NYSE:BE) have been given a consensus rating of “Hold” by the twenty-three ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $22.45.

Several brokerages recently issued reports on BE. Roth Mkm began coverage on shares of Bloom Energy in a research note on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 target price for the company. Hsbc Global Res upgraded shares of Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. Robert W. Baird raised their target price on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Royal Bank of Canada raised their target price on shares of Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Finally, BMO Capital Markets raised their target price on shares of Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research note on Friday, November 15th.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction on 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 of the company’s stock, 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 document filed with the SEC, which is available through the SEC website. Also, CEO Kr Sridhar sold 46,697 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 1,822,496 shares in the company, valued at approximately $45,562,400. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,975 shares of company stock valued at $3,045,019 over the last 90 days. 3.50% of the stock is owned by insiders.

Institutional Trading of Bloom Energy

A number of institutional investors have recently bought and sold shares of the company. Electron Capital Partners LLC raised its holdings in shares of Bloom Energy by 131.5% during the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after purchasing an additional 1,790,733 shares during the period. JAT Capital Mgmt LP raised its holdings in shares of Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after purchasing an additional 733,363 shares during the period. DigitalBridge Group Inc. raised its holdings in shares of Bloom Energy by 66.3% during the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after purchasing an additional 462,581 shares during the period. Pier Capital LLC acquired a new position in shares of Bloom Energy during the second quarter valued at about $5,602,000. Finally, Erste Asset Management GmbH acquired a new position in shares of Bloom Energy during the third quarter valued at about $3,762,000. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Trading Up 5.2 %

Bloom Energy stock opened at $23.37 on Tuesday. The firm has a 50-day moving average of $20.70 and a 200-day moving average of $14.82. Bloom Energy has a one year low of $8.41 and a one year high of $28.70. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The company has a market cap of $5.34 billion, a price-to-earnings ratio of -41.73 and a beta of 3.04.

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.