Bloom Energy (NYSE:BE) Coverage Initiated by Analysts at Mizuho

Mizuho started coverage on shares of Bloom Energy (NYSE:BE) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage issued a neutral rating and a $28.00 target price on the stock.

Several other research analysts have also recently commented on BE. Roth Mkm began coverage on shares of Bloom Energy in a report on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 target price for the company. Royal Bank of Canada raised their price target 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. Hsbc Global Res upgraded shares of Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. raised their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, BTIG Research raised their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Bloom Energy presently has a consensus rating of “Hold” and an average target price of $24.67.

Bloom Energy Stock Performance

Shares of BE opened at $23.88 on Tuesday. The firm’s 50 day moving average is $24.08 and its 200-day moving average is $19.14. The stock has a market capitalization of $5.50 billion, a P/E ratio of -42.64 and a beta of 3.30. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. Bloom Energy has a 12-month low of $9.02 and a 12-month high of $29.83.

Insider Activity at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the sale, the insider now owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the sale, the insider now directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Bloom Energy by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company’s stock worth $427,194,000 after acquiring an additional 356,317 shares during the last quarter. Norges Bank bought a new stake in Bloom Energy during the 4th quarter worth about $93,951,000. Fuller & Thaler Asset Management Inc. bought a new stake in Bloom Energy during the 4th quarter worth about $61,968,000. JAT Capital Mgmt LP grew its holdings in Bloom Energy by 50.0% during the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after acquiring an additional 733,363 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Bloom Energy by 7.3% during the 4th quarter. Legal & General Group Plc now owns 2,133,318 shares of the company’s stock worth $47,381,000 after acquiring an additional 144,616 shares during the last quarter. Institutional investors own 77.04% of the company’s stock.

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.