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

Bloom Energy Co. (NYSE:BE)’s stock price gapped up before the market opened on Thursday after Morgan Stanley raised their price target on the stock from $28.00 to $35.00. The stock had previously closed at $24.31, but opened at $25.20. Morgan Stanley currently has an overweight rating on the stock. Bloom Energy shares last traded at $25.62, with a volume of 1,402,072 shares trading hands.

Several other equities research analysts also recently issued reports on the company. Roth Mkm started coverage on Bloom Energy in a report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Robert W. Baird lifted their price objective on Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. TD Cowen lifted their target price on Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group lifted their target price on Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and an average price target of $25.06.

Insider Buying and Selling at Bloom Energy

In other news, insider Satish Chitoori sold 1,020 shares of the business’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 owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. The trade was a 0.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the sale, the insider now directly owns 171,040 shares in the company, valued at $4,005,756.80. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is owned by company insiders.

Institutional Trading of Bloom Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Millburn Ridgefield Corp raised its stake in shares of Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after buying an additional 528 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Bloom Energy by 26.8% in the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after buying an additional 569 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Bloom Energy by 1.3% in the 4th quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock worth $1,324,000 after buying an additional 759 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after buying an additional 812 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after buying an additional 934 shares in the last quarter. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Up 4.7 %

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 50 day moving average price of $24.10 and a 200 day moving average price of $19.22. The company has a market cap of $5.87 billion, a P/E ratio of -45.46 and a beta of 3.30.

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.