Bloom Energy (NYSE:BE) Sets New 12-Month High Following Analyst Upgrade

Bloom Energy Co. (NYSE:BE)’s stock price hit a new 52-week high during mid-day trading on Friday after Jefferies Financial Group raised their price target on the stock from $12.00 to $22.00. Jefferies Financial Group currently has a hold rating on the stock. Bloom Energy traded as high as $25.24 and last traded at $25.09, with a volume of 2715607 shares trading hands. The stock had previously closed at $23.94.

Several other research firms also recently commented on BE. Piper Sandler increased their price objective on Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday. Bank of America cut their target price on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a research note on Thursday, November 7th. HSBC downgraded Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 target price for the company. in a research note on Wednesday. Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, Robert W. Baird cut their target price on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.66.

Insider Buying and Selling

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction that occurred on Monday, November 18th. The stock was 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 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kr Sridhar sold 46,697 shares of Bloom Energy stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total value of $1,167,425.00. Following the transaction, the chief executive officer now directly owns 1,822,496 shares in the company, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,975 shares of company stock worth $3,045,019 over the last 90 days. 8.81% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Mizuho Markets Americas LLC increased its holdings 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 valued at $4,335,000 after purchasing an additional 31,189 shares during the period. Parametrica Management Ltd purchased a new stake in shares of Bloom Energy in the third quarter valued at approximately $785,000. International Assets Investment Management LLC boosted its stake in shares of Bloom Energy by 1,490.8% in the third quarter. International Assets Investment Management LLC now owns 185,328 shares of the company’s stock valued at $19,570,000 after buying an additional 173,678 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Bloom Energy by 148.8% in the third quarter. Oppenheimer & Co. Inc. now owns 130,418 shares of the company’s stock valued at $1,377,000 after buying an additional 78,009 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Bloom Energy by 13.1% in the third quarter. Van ECK Associates Corp now owns 661,932 shares of the company’s stock valued at $6,990,000 after buying an additional 76,536 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Stock Performance

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 stock has a market capitalization of $5.89 billion, a PE ratio of -46.00 and a beta of 2.71. The stock has a 50 day moving average of $11.91 and a two-hundred day moving average of $12.61.

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.