Bloom Energy (NYSE:BE) Shares Up 4.4% on Analyst Upgrade

Bloom Energy Co. (NYSE:BE) traded up 4.4% during trading on Thursday after Robert W. Baird raised their price target on the stock from $15.00 to $32.00. Robert W. Baird currently has an outperform rating on the stock. Bloom Energy traded as high as $24.88 and last traded at $24.63. 693,170 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 6,569,111 shares. The stock had previously closed at $23.60.

BE has been the topic of a number of other research reports. Roth Mkm began coverage on Bloom Energy in a research report on Wednesday. They issued a “neutral” rating and a $25.00 target price on the stock. Roth Capital upgraded Bloom Energy to a “hold” rating in a report on Tuesday. Morgan Stanley upped their target price on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. BMO Capital Markets increased their price objective on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research note on Friday, November 15th. Finally, Truist Financial decreased their price objective on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $21.92.

Insider Activity

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kr Sridhar sold 46,697 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the transaction, the chief executive officer now directly owns 1,822,496 shares of the company’s stock, valued at $45,562,400. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,975 shares of company stock worth $3,045,019 in the last 90 days. 8.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Bloom Energy

A number of institutional investors have recently modified their holdings of the company. Millburn Ridgefield Corp increased its holdings in Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after purchasing an additional 528 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Bloom Energy in the 3rd quarter valued at approximately $34,000. ORG Partners LLC acquired a new stake in shares of Bloom Energy during the 2nd quarter valued at approximately $40,000. Quest Partners LLC raised its position in shares of Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after acquiring an additional 3,475 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC bought a new position in Bloom Energy during the second quarter worth $53,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Trading Up 5.1 %

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 business’s fifty day simple moving average is $16.60 and its 200 day simple moving average is $13.96. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of -44.29 and a beta of 3.04.

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.