Mizuho Begins Coverage on Bloom Energy (NYSE:BE)

Research analysts at Mizuho began coverage on shares of Bloom Energy (NYSE:BE - Get Free Report) in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm set a "neutral" rating and a $28.00 price target on the stock. Mizuho's price objective indicates a potential upside of 17.15% from the company's previous close.

Other equities research analysts have also recently issued reports about the stock. Hsbc Global Res raised shares of Bloom Energy to a "hold" rating in a research note on Wednesday, November 20th. Piper Sandler decreased their price target on shares of Bloom Energy from $33.00 to $31.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Bloom Energy in a research note on Friday, February 28th. HSBC cut shares of Bloom Energy from a "buy" rating to a "hold" rating and set a $24.50 price target on the stock. in a research note on Wednesday, November 20th. Finally, Robert W. Baird raised their price target on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $25.06.

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Bloom Energy Price Performance

Shares of BE traded down $1.51 during trading hours on Tuesday, reaching $23.90. The company had a trading volume of 7,838,588 shares, compared to its average volume of 6,718,207. The firm has a 50 day simple moving average of $24.10 and a 200-day simple moving average of $19.30. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of -42.68 and a beta of 3.30. Bloom Energy has a 12-month low of $9.02 and a 12-month high of $29.83.

Insider Activity

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the sale, the insider now owns 171,040 shares of the company's stock, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the sale, the insider now directly owns 178,656 shares of the company's stock, valued at $4,482,479.04. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.81% of the company's stock.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds have recently added to or reduced their stakes in the business. Millburn Ridgefield Corp boosted its holdings in shares of 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 acquiring an additional 528 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Bloom Energy by 26.8% during the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company's stock valued at $60,000 after acquiring an additional 569 shares during the period. Arizona State Retirement System boosted its holdings in shares of Bloom Energy by 1.3% during the fourth quarter. Arizona State Retirement System now owns 59,592 shares of the company's stock valued at $1,324,000 after acquiring an additional 759 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock valued at $33,000 after acquiring an additional 812 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock valued at $28,000 after purchasing an additional 934 shares in the last quarter. 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.