Bloom Energy Co. (NYSE:BE) Receives Consensus Recommendation of “Hold” from Analysts

Bloom Energy Co. (NYSE:BE) has been given a consensus recommendation of “Hold” by the twenty-three brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $22.45.

A number of brokerages recently issued reports on BE. UBS Group upped their price objective on shares of Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. HSBC downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target for the company. in a report on Wednesday, November 20th. Roth Mkm initiated coverage on Bloom Energy in a report on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 price objective on the stock. Jefferies Financial Group raised their target price on Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, November 22nd. Finally, Truist Financial decreased their price target on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, October 16th.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 72,903 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total value of $1,824,033.06. Following the completion of 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 trade represents a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the 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 completion of the transaction, the insider now owns 168,561 shares of the company’s stock, valued at $4,139,858.16. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 122,975 shares of company stock valued at $3,045,019. 8.81% of the stock is owned by company insiders.

Institutional Trading of Bloom Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Electron Capital Partners LLC lifted its holdings in shares of Bloom Energy by 131.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after acquiring an additional 1,790,733 shares during the period. JAT Capital Mgmt LP grew its stake in shares of Bloom Energy by 50.0% during the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after buying an additional 733,363 shares during the period. DigitalBridge Group Inc. increased its holdings in shares of Bloom Energy by 66.3% during the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after buying an additional 462,581 shares during the last quarter. Pier Capital LLC purchased a new position in shares of Bloom Energy in the 2nd quarter worth $5,602,000. Finally, Erste Asset Management GmbH acquired a new position in Bloom Energy in the third quarter valued at $3,762,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Bloom Energy Stock Performance

NYSE BE opened at $22.51 on Tuesday. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $28.70. The firm has a market capitalization of $5.15 billion, a P/E ratio of -40.20 and a beta of 3.04. The stock’s fifty day moving average is $19.90 and its two-hundred day moving average is $14.65. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

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.