Bloom Energy (NYSE:BE) Trading Up 5.2% on Analyst Upgrade

Bloom Energy Co. (NYSE:BE)’s stock price was up 5.2% during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $14.00 to $16.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Bloom Energy traded as high as $26.86 and last traded at $26.85. 2,109,163 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 5,177,137 shares. The stock had previously closed at $25.53.

A number of other research analysts also recently commented on BE. Hsbc Global Res raised Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. Susquehanna increased their target price on Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a research note on Friday, December 6th. Piper Sandler lifted their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Jefferies Financial Group increased their price objective on shares of Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Finally, UBS Group raised their price objective on shares of Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bloom Energy currently has a consensus rating of “Hold” and a consensus target price of $23.08.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the sale, the insider now directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kr Sridhar sold 72,903 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the sale, the chief executive officer now owns 1,869,593 shares of the company’s stock, valued at approximately $46,777,216.86. The trade was a 3.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,528 shares of company stock valued at $3,061,501. Company insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BE. Millburn Ridgefield Corp grew its holdings in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after purchasing an additional 528 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Bloom Energy during the 3rd quarter worth $34,000. Avior Wealth Management LLC acquired a new position in Bloom Energy in the 4th quarter valued at $40,000. GAMMA Investing LLC raised its holdings in Bloom Energy by 26.8% in the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after acquiring an additional 569 shares during the period. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Bloom Energy during the third quarter valued at about $74,000. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Trading Up 8.5 %

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 capitalization of $6.33 billion, a price-to-earnings ratio of -49.45 and a beta of 3.06. The company has a 50-day moving average price of $24.31 and a 200-day moving average price of $15.96.

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.