Bloom Energy (NYSE:BE) Stock Rating Upgraded by Hsbc Global Res

Hsbc Global Res upgraded shares of Bloom Energy (NYSE:BE) to a hold rating in a report published on Wednesday,Zacks.com reports.

A number of other brokerages have also recently commented on BE. Bank of America lowered their price target on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a research note on Thursday, November 7th. Piper Sandler raised shares of Bloom Energy from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $10.00 to $20.00 in a research report on Friday, November 15th. HSBC lowered 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. Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, UBS Group decreased their target price on Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.66.

Bloom Energy Stock Up 7.6 %

Shares of Bloom Energy stock opened at $25.77 on Wednesday. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $26.26. The business has a fifty day simple moving average of $11.91 and a 200 day simple moving average of $12.61. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The stock has a market cap of $5.89 billion, a PE ratio of -46.00 and a beta of 2.71.

Insiders Place Their Bets

In other news, CEO Kr Sridhar sold 46,697 shares of Bloom Energy stock in a transaction that occurred on Friday, November 22nd. The stock was 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 in the company, valued at approximately $45,562,400. The trade was a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy 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 transaction, the insider now directly 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 disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock valued at $3,045,019 in the last 90 days. 8.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds have recently bought and sold shares of BE. Vanguard Group Inc. grew its stake in shares of Bloom Energy by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after acquiring an additional 156,434 shares in the last quarter. Electron Capital Partners LLC grew its position 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 purchasing an additional 1,790,733 shares in the last quarter. JAT Capital Mgmt LP increased its holdings in shares of Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after purchasing an additional 733,363 shares during the period. DigitalBridge Group Inc. raised its position in shares of Bloom Energy by 66.3% in the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after buying an additional 462,581 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Bloom Energy by 48.6% in the second quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock valued at $10,644,000 after buying an additional 284,298 shares during the period. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.