Roth Mkm Begins Coverage on Bloom Energy (NYSE:BE)

Analysts at Roth Mkm initiated coverage on shares of Bloom Energy (NYSE:BE) in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm set a “neutral” rating and a $25.00 price target on the stock. Roth Mkm’s price target suggests a potential upside of 0.81% from the stock’s current price.

Several other research analysts have also recently commented on the company. Royal Bank of Canada raised their target price on Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Piper Sandler upped their target price on shares of Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. BTIG Research raised their price target on shares of Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Morgan Stanley upped their price objective on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, BMO Capital Markets raised their target price on Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Bloom Energy presently has an average rating of “Hold” and a consensus price target of $21.92.

Bloom Energy Trading Up 5.1 %

Shares of BE opened at $24.80 on Wednesday. The stock’s 50-day moving average price is $16.60 and its 200 day moving average price is $13.96. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy has a 12-month low of $8.41 and a 12-month high of $28.70. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of -44.29 and a beta of 3.04.

Insider Activity

In other Bloom Energy 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 directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 72,903 shares of Bloom Energy 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 sale, the chief executive officer now owns 1,869,593 shares of the company’s stock, valued at approximately $46,777,216.86. This represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock valued at $3,045,019 over the last three months. 8.81% of the stock is owned by insiders.

Institutional Trading of Bloom Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Electron Capital Partners LLC raised its position in shares of Bloom Energy by 131.5% in the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after acquiring an additional 1,790,733 shares during the period. JAT Capital Mgmt LP raised its holdings in Bloom Energy by 50.0% in the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after purchasing an additional 733,363 shares during the period. DigitalBridge Group Inc. boosted its position 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 worth $14,203,000 after purchasing an additional 462,581 shares in the last quarter. Pier Capital LLC bought a new position in shares of Bloom Energy during the second quarter worth $5,602,000. Finally, Erste Asset Management GmbH bought a new stake in shares of Bloom Energy in the 3rd quarter valued at $3,762,000. Institutional investors own 77.04% of the company’s stock.

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.