Shares of Bloom Energy Co. (NYSE:BE – Get Free Report) traded down 7.2% during trading on Tuesday after Bank of America lowered their price target on the stock from $20.00 to $18.00. Bank of America currently has an underperform rating on the stock. Bloom Energy traded as low as $20.73 and last traded at $20.80. 4,502,055 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 6,893,055 shares. The stock had previously closed at $22.42.
BE has been the topic of a number of other reports. Morgan Stanley upped their price target on Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Roth Capital raised Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. BMO Capital Markets lifted their target price on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research report on Friday, November 15th. UBS Group boosted their price target on shares of Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Hsbc Global Res raised shares of Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. 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 company. According to MarketBeat.com, Bloom Energy presently has a consensus rating of “Hold” and an average target price of $23.13.
Read Our Latest Research Report on Bloom Energy
Insider Buying and Selling at Bloom Energy
Hedge Funds Weigh In On Bloom Energy
A number of hedge funds have recently modified their holdings of the business. JAT Capital Mgmt LP raised its position in Bloom Energy by 50.0% in the 3rd 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 during the last quarter. Elemental Capital Partners LLC acquired a new position in Bloom Energy in the fourth quarter valued at $33,612,000. Artemis Investment Management LLP raised its holdings in shares of Bloom Energy by 20.5% in the third quarter. Artemis Investment Management LLP now owns 738,673 shares of the company’s stock valued at $7,800,000 after buying an additional 125,757 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Bloom Energy by 13.1% during the third quarter. Van ECK Associates Corp now owns 661,932 shares of the company’s stock worth $6,990,000 after buying an additional 76,536 shares during the period. Finally, Pier Capital LLC grew its holdings in shares of Bloom Energy by 0.9% during the third quarter. Pier Capital LLC now owns 461,744 shares of the company’s stock worth $4,876,000 after buying an additional 4,082 shares during the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.
Bloom Energy Price Performance
The company has a 50-day moving average of $24.65 and a 200-day moving average of $16.36. 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 stock has a market cap of $5.12 billion, a price-to-earnings ratio of -40.00 and a beta of 3.06.
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.
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