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

Bloom Energy Co. (NYSE:BE) has received an average rating of “Hold” from the twenty ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $24.47.

Several research firms recently issued reports on BE. Jefferies Financial Group increased their target price on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Piper Sandler reduced their target price on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Royal Bank of Canada increased their target price on shares of Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Susquehanna increased their target price on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a report on Friday, December 6th. Finally, TD Cowen increased their target price on shares of Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, February 28th.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the transaction, the insider now directly owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.81% of the stock is currently owned by insiders.

Institutional Trading of Bloom Energy

A number of institutional investors have recently bought and sold shares of BE. Norges Bank bought a new stake in Bloom Energy in the fourth quarter worth $93,951,000. Fuller & Thaler Asset Management Inc. bought a new stake in Bloom Energy in the fourth quarter worth $61,968,000. Elemental Capital Partners LLC bought a new stake in shares of Bloom Energy during the fourth quarter worth $33,612,000. Trivest Advisors Ltd bought a new stake in shares of Bloom Energy during the fourth quarter worth $30,539,000. Finally, Voloridge Investment Management LLC lifted its position in shares of Bloom Energy by 323.6% during the fourth quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company’s stock worth $31,992,000 after purchasing an additional 1,100,352 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors.

Bloom Energy Price Performance

Shares of NYSE:BE opened at $24.39 on Friday. The firm’s 50 day moving average price is $24.12 and its 200-day moving average price is $18.92. Bloom Energy has a twelve month low of $8.99 and a twelve month high of $29.83. 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 stock has a market capitalization of $5.62 billion, a PE ratio of -43.55 and a beta of 3.30.

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.