Bloom Energy (NYSE:BE) Now Covered by Roth Mkm

Roth Mkm initiated coverage on shares of Bloom Energy (NYSE:BE - Free Report) in a report released on Wednesday, MarketBeat reports. The brokerage issued a neutral rating and a $25.00 price target on the stock.

Several other brokerages have also commented on BE. Morgan Stanley lifted their target price on Bloom Energy from $20.00 to $28.00 and gave the stock an "overweight" rating in a research report on Monday, November 18th. UBS Group lifted their price objective on shares of Bloom Energy from $21.00 to $33.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Marathon Capitl raised shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. Piper Sandler boosted their price objective on shares of Bloom Energy from $20.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. Finally, Royal Bank of Canada raised their target price on shares of Bloom Energy from $15.00 to $28.00 and gave the stock an "outperform" rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Bloom Energy currently has an average rating of "Hold" and a consensus target price of $21.03.

Bloom Energy Stock Up 0.6 %

Shares of BE stock traded up $0.13 during trading hours on Wednesday, hitting $23.60. 7,774,121 shares of the company were exchanged, compared to its average volume of 6,593,911. 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 market capitalization of $5.39 billion, a price-to-earnings ratio of -44.75 and a beta of 3.04. Bloom Energy has a one year low of $8.41 and a one year high of $28.70. The business's 50-day simple moving average is $16.06 and its two-hundred day simple moving average is $13.81.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction dated 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 $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kr Sridhar sold 46,697 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now owns 1,822,496 shares of the company's stock, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock worth $3,045,019 over the last quarter. 8.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently modified their holdings of BE. Millburn Ridgefield Corp grew 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 purchasing an additional 528 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Bloom Energy during the third quarter valued at $34,000. ORG Partners LLC acquired a new position in Bloom Energy during the second quarter valued at $40,000. Quest Partners LLC lifted its stake in Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company's stock worth $44,000 after acquiring an additional 3,475 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in Bloom Energy during the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 77.04% of the company's stock.

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.