Mizuho Begins Coverage on Bloom Energy (NYSE:BE)

Investment analysts at Mizuho began coverage on shares of Bloom Energy (NYSE:BE) in a note issued to investors on Tuesday, Marketbeat reports. The brokerage set a “neutral” rating and a $28.00 price target on the stock. Mizuho’s target price would indicate a potential upside of 14.94% from the stock’s current price.

A number of other research firms have also recently weighed in on BE. BTIG Research upped their price target on Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, December 16th. JPMorgan Chase & Co. upped their price target on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Roth Mkm started coverage on Bloom Energy in a report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 target price for the company. TD Cowen increased their target price on Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a report on Friday, February 28th. Finally, Roth Capital raised Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $24.67.

Bloom Energy Stock Performance

NYSE BE opened at $24.36 on Tuesday. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of -43.50 and a beta of 3.30. Bloom Energy has a twelve month low of $9.02 and a twelve month high of $29.83. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The stock has a 50-day moving average of $24.08 and a 200 day moving average of $19.18.

Insider Activity

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

Institutional Investors Weigh In On Bloom Energy

Institutional investors have recently added to or reduced their stakes in the business. Millburn Ridgefield Corp raised its position in shares of 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. GAMMA Investing LLC raised its position in shares of Bloom Energy by 26.8% during the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after purchasing an additional 569 shares during the last quarter. Arizona State Retirement System raised its position in shares of Bloom Energy by 1.3% during the 4th quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock worth $1,324,000 after purchasing an additional 759 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after purchasing an additional 812 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after acquiring an additional 934 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

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.