Bloom Energy Co. (NYSE:BE) Given Average Recommendation of "Hold" by Analysts

Shares of Bloom Energy Co. (NYSE:BE - Get Free Report) have received a consensus rating of "Hold" from the twenty-three ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $22.45.

A number of brokerages have issued reports on BE. Piper Sandler boosted their price target on Bloom Energy from $20.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. Truist Financial reduced their price objective on shares of Bloom Energy from $13.00 to $12.00 and set a "hold" rating for the company in a report on Wednesday, October 16th. Marathon Capitl raised shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 11th. Susquehanna upped their price target on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a "positive" rating in a research note on Friday, December 6th. Finally, HSBC lowered shares of Bloom Energy from a "buy" rating to a "hold" rating and set a $24.50 price objective on the stock. in a research note on Wednesday, November 20th.

Insider Activity

In other news, CEO Kr Sridhar sold 46,697 shares of Bloom Energy stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the sale, the chief executive officer now owns 1,822,496 shares in the company, valued at $45,562,400. The trade was a 2.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the transaction, the insider now owns 168,561 shares in the company, 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. In the last ninety days, insiders sold 122,975 shares of company stock valued at $3,045,019. Company insiders own 8.81% of the company's stock.

Institutional Investors Weigh In On Bloom Energy

Institutional investors have recently made changes to their positions in the stock. Millburn Ridgefield Corp grew its holdings in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock valued at $25,000 after purchasing an additional 528 shares during the period. Xponance Inc. grew its holdings in shares of Bloom Energy by 7.8% in the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company's stock valued at $154,000 after buying an additional 903 shares during the period. Kovitz Investment Group Partners LLC increased its position in shares of Bloom Energy by 3.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company's stock valued at $374,000 after buying an additional 1,349 shares in the last quarter. Arizona State Retirement System raised its stake in Bloom Energy by 2.7% during the 2nd quarter. Arizona State Retirement System now owns 56,886 shares of the company's stock worth $696,000 after buying an additional 1,470 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Bloom Energy during the third quarter worth about $34,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Stock Performance

Shares of NYSE BE traded down $0.30 during midday trading on Tuesday, hitting $22.21. 3,815,778 shares of the company's stock were exchanged, compared to its average volume of 6,517,012. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $28.70. The firm has a market cap of $5.08 billion, a P/E ratio of -39.66 and a beta of 3.04. The stock's 50 day moving average price is $20.15 and its 200-day moving average price is $14.71. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

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.