Bloom Energy Co. (NYSE:BE - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $25.39, but opened at $24.54. Bloom Energy shares last traded at $24.43, with a volume of 353,437 shares changing hands.
Analyst Ratings Changes
Several brokerages have commented on BE. Bank of America cut their target price on Bloom Energy from $20.00 to $18.00 and set an "underperform" rating on the stock in a report on Tuesday, January 28th. Jefferies Financial Group lifted their price objective on Bloom Energy from $12.00 to $22.00 and gave the stock a "hold" rating in a research note on Friday, November 22nd. Roth Capital raised shares of Bloom Energy to a "hold" rating in a research report on Tuesday, December 10th. HSBC downgraded 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 report on Wednesday, November 20th. Finally, Robert W. Baird increased their price objective on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $24.18.
Check Out Our Latest Analysis on BE
Bloom Energy Trading Up 3.1 %
The business has a fifty day moving average of $24.12 and a 200-day moving average of $17.30. 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 company has a market capitalization of $5.82 billion, a P/E ratio of -45.48 and a beta of 3.06.
Insider Buying and Selling at Bloom Energy
In other news, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the sale, the insider now directly owns 171,040 shares of the company's stock, valued at $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $1,824,033.06. Following the transaction, the chief executive officer now directly owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. The trade was a 3.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,239 shares of company stock valued at $3,029,843. Corporate insiders own 8.81% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Bloom Energy by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company's stock valued at $427,194,000 after purchasing an additional 356,317 shares during the period. Norges Bank bought a new stake in shares of Bloom Energy during the 4th quarter worth $93,951,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Bloom Energy in the 4th quarter worth about $61,968,000. JAT Capital Mgmt LP grew its position in Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company's stock valued at $23,221,000 after buying an additional 733,363 shares during the period. Finally, Legal & General Group Plc increased its holdings in Bloom Energy by 7.3% during the fourth quarter. Legal & General Group Plc now owns 2,133,318 shares of the company's stock worth $47,381,000 after buying an additional 144,616 shares during the last quarter. 77.04% of the stock is owned by institutional investors.
Bloom Energy Company Profile
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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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