Bloom Energy Co. (NYSE:BE) Receives Consensus Rating of "Hold" from Analysts

Bloom Energy Co. (NYSE:BE - Get Free Report) has been given an average rating of "Hold" by the twenty-one ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $20.08.

A number of equities research analysts recently weighed in on the company. HSBC cut Bloom Energy from a "buy" rating to a "hold" rating and set a $24.50 price target on the stock. in a report on Wednesday, November 20th. Piper Sandler raised their price target on Bloom Energy from $20.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. Jefferies Financial Group lifted their price target on Bloom Energy from $12.00 to $22.00 and gave the stock a "hold" rating in a research note on Friday, November 22nd. Hsbc Global Res upgraded shares of Bloom Energy to a "hold" rating in a report on Wednesday, November 20th. Finally, Truist Financial cut their target price on shares of Bloom Energy from $13.00 to $12.00 and set a "hold" rating for the company in a research report on Wednesday, October 16th.

Bloom Energy Price Performance

Shares of NYSE BE traded up $1.11 during midday trading on Friday, hitting $27.08. The company had a trading volume of 6,874,078 shares, compared to its average volume of 6,550,297. 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 business has a 50-day simple moving average of $15.47 and a two-hundred day simple moving average of $13.72. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $28.70. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of -48.35 and a beta of 3.04.

Insider Activity at Bloom Energy

In related news, CEO Kr Sridhar sold 46,697 shares of Bloom Energy stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total value of $1,167,425.00. Following the transaction, the chief executive officer now owns 1,822,496 shares in the company, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. The sale 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 company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 122,975 shares of company stock worth $3,045,019. 8.81% of the stock is owned by company insiders.

Institutional Trading of Bloom Energy

A number of institutional investors have recently added to or reduced their stakes in the business. Millburn Ridgefield Corp lifted its position in 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 acquiring an additional 528 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Bloom Energy in the third quarter valued at $34,000. ORG Partners LLC acquired a new stake in Bloom Energy during the 2nd quarter valued at $40,000. Quest Partners LLC increased its stake in Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company's stock worth $44,000 after buying an additional 3,475 shares during the period. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in Bloom Energy in the 2nd quarter worth $53,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

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.