Bloom Energy Co. (NYSE:BE) Given Consensus Rating of "Hold" by Brokerages

Bloom Energy Co. (NYSE:BE - Get Free Report) has been assigned a consensus recommendation of "Hold" from the twenty-three analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $23.08.

Several research analysts have commented on BE shares. BMO Capital Markets boosted their price objective on shares of Bloom Energy from $12.00 to $19.50 and gave the company a "market perform" rating in a research report on Friday, November 15th. Jefferies Financial Group boosted their price target on Bloom Energy from $12.00 to $22.00 and gave the stock a "hold" rating in a report on Friday, November 22nd. HSBC lowered 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. JPMorgan Chase & Co. boosted their target price on Bloom Energy from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Bank of America raised their price target on shares of Bloom Energy from $7.00 to $20.00 and gave the company an "underperform" rating in a research note on Monday, December 9th.

Bloom Energy Stock Performance

Shares of NYSE:BE traded up $1.98 on Friday, reaching $29.65. 12,235,256 shares of the company's stock were exchanged, compared to its average volume of 4,339,815. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $29.83. The company has a fifty day moving average of $24.77 and a 200-day moving average of $16.16. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of -52.95 and a beta of 3.06. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Insider Activity at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the transaction, the chief executive officer now directly owns 1,869,593 shares of the company's stock, valued at approximately $46,777,216.86. This trade represents a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,289 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the sale, the insider now owns 168,561 shares of the company's stock, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 122,528 shares of company stock valued at $3,061,501. Company insiders own 8.81% of the company's stock.

Hedge Funds Weigh In On Bloom Energy

Large investors have recently made changes to their positions in the business. Sei Investments Co. lifted its holdings in shares of Bloom Energy by 86.2% during the second quarter. Sei Investments Co. now owns 44,436 shares of the company's stock valued at $544,000 after purchasing an additional 20,565 shares in the last quarter. Ensign Peak Advisors Inc lifted its stake in Bloom Energy by 8.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 77,417 shares of the company's stock valued at $948,000 after acquiring an additional 5,800 shares during the period. Xponance Inc. boosted its holdings in shares of Bloom Energy by 7.8% during the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company's stock valued at $154,000 after acquiring an additional 903 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Bloom Energy by 30.0% in the second quarter. Marshall Wace LLP now owns 510,315 shares of the company's stock worth $6,246,000 after acquiring an additional 117,648 shares during the period. Finally, Dark Forest Capital Management LP purchased a new position in shares of Bloom Energy during the second quarter valued at approximately $711,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Bloom Energy Company Profile

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.