Bloom Energy (NYSE:BE - Get Free Report) was upgraded by investment analysts at Hsbc Global Res from a "hold" rating to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.
A number of other research firms also recently weighed in on BE. TD Cowen upped their target price on shares of Bloom Energy from $13.00 to $20.00 and gave the stock a "hold" rating in a research report on Friday, February 28th. Roth Mkm assumed coverage on shares of Bloom Energy in a report on Wednesday, December 11th. They issued a "neutral" rating and a $25.00 price objective on the stock. BTIG Research lifted their target price on shares of Bloom Energy from $20.00 to $30.00 and gave the company a "buy" rating in a report on Monday, December 16th. Robert W. Baird boosted their price target on Bloom Energy from $15.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, December 12th. Finally, Bank of America reduced their price objective on Bloom Energy from $20.00 to $18.00 and set an "underperform" rating for the company in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $24.29.
Check Out Our Latest Research Report on BE
Bloom Energy Trading Up 4.6 %
Shares of BE traded up $0.78 during mid-day trading on Tuesday, hitting $17.63. 6,729,752 shares of the company's stock traded hands, compared to its average volume of 6,891,278. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy has a 1 year low of $9.02 and a 1 year high of $29.83. The firm has a market capitalization of $4.06 billion, a P/E ratio of -31.48 and a beta of 3.27. The business's 50-day moving average price is $22.56 and its 200-day moving average price is $20.37.
Insider Transactions at Bloom Energy
In other news, insider Satish Chitoori sold 1,020 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now directly owns 178,656 shares in the company, valued at $4,482,479.04. This represents a 0.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the transaction, the insider now directly owns 171,040 shares in the company, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.50% of the company's stock.
Hedge Funds Weigh In On Bloom Energy
A number of hedge funds have recently modified their holdings of the company. Kovitz Investment Group Partners LLC boosted its holdings in Bloom Energy by 3.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company's stock worth $374,000 after buying an additional 1,349 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Bloom Energy in the third quarter valued at about $34,000. Peapack Gladstone Financial Corp boosted its stake in shares of Bloom Energy by 4.4% in the third quarter. Peapack Gladstone Financial Corp now owns 271,924 shares of the company's stock worth $2,871,000 after acquiring an additional 11,525 shares during the period. Franklin Resources Inc. grew its position in shares of Bloom Energy by 62.4% during the third quarter. Franklin Resources Inc. now owns 125,598 shares of the company's stock worth $1,314,000 after purchasing an additional 48,258 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in Bloom Energy by 21.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 21,404 shares of the company's stock valued at $226,000 after purchasing an additional 3,824 shares during the period. 77.04% of the stock is currently owned by institutional investors.
About Bloom Energy
(
Get Free Report)
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.
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