Bloom Energy (NYSE:BE) Reaches New 52-Week High – Should You Buy?

Bloom Energy Co. (NYSE:BE)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $28.70 and last traded at $27.21, with a volume of 12065362 shares traded. The stock had previously closed at $26.17.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BE shares. Jefferies Financial Group raised their price target on Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. BMO Capital Markets raised their price target on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a report on Friday, November 15th. Truist Financial dropped their price target on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a report on Wednesday, October 16th. Finally, Royal Bank of Canada raised their price target on Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and an average price target of $19.14.

Bloom Energy Price Performance

The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The firm has a market capitalization of $6.28 billion, a P/E ratio of -49.09 and a beta of 2.71. The company has a 50-day moving average price of $13.88 and a 200-day moving average price of $13.23.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction dated 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 directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kr Sridhar sold 46,697 shares of Bloom Energy stock in a transaction dated 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 owns 1,822,496 shares in the company, valued at approximately $45,562,400. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock worth $3,045,019 in the last three months. Insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Electron Capital Partners LLC lifted its holdings in shares of Bloom Energy by 131.5% in the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after purchasing an additional 1,790,733 shares in the last quarter. JAT Capital Mgmt LP lifted its holdings in shares of Bloom Energy by 50.0% in the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after purchasing an additional 733,363 shares in the last quarter. DigitalBridge Group Inc. lifted its holdings in shares of Bloom Energy by 66.3% in the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after purchasing an additional 462,581 shares in the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of Bloom Energy by 48.6% in the second quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock valued at $10,644,000 after purchasing an additional 284,298 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Bloom Energy by 64.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 830,405 shares of the company’s stock valued at $11,017,000 after purchasing an additional 325,814 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors.

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.