Bloom Energy (NYSE:BE) Shares Gap Up Following Analyst Upgrade

Shares of Bloom Energy Co. (NYSE:BE - Get Free Report) gapped up before the market opened on Thursday after Morgan Stanley raised their price target on the stock from $28.00 to $35.00. The stock had previously closed at $24.31, but opened at $25.20. Morgan Stanley currently has an overweight rating on the stock. Bloom Energy shares last traded at $25.62, with a volume of 1,402,072 shares.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group raised their target price on Bloom Energy from $12.00 to $22.00 and gave the stock a "hold" rating in a research report on Friday, November 22nd. Piper Sandler reduced their price objective on shares of Bloom Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Roth Mkm initiated coverage on shares of Bloom Energy in a research note on Wednesday, December 11th. They issued a "neutral" rating and a $25.00 target price on the stock. Bank of America decreased their price objective on Bloom Energy from $20.00 to $18.00 and set an "underperform" rating on the stock in a report on Tuesday, January 28th. Finally, Susquehanna raised their target price on Bloom Energy from $20.00 to $33.00 and gave the stock a "positive" rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $25.06.

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Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction 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 transaction, the insider now directly owns 171,040 shares of the company's stock, valued at $4,005,756.80. This trade 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, insider Satish Chitoori sold 1,020 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the transaction, the insider now directly owns 178,656 shares of the company's stock, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.81% of the company's stock.

Institutional Trading of Bloom Energy

A number of large investors have recently bought and sold shares of the business. Millburn Ridgefield Corp increased its holdings 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. GAMMA Investing LLC grew 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 worth $60,000 after buying an additional 569 shares in the last quarter. Arizona State Retirement System grew 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 worth $1,324,000 after buying an additional 759 shares in the last quarter. Jones Financial Companies Lllp raised its position in Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock valued at $33,000 after buying an additional 812 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock valued at $28,000 after acquiring an additional 934 shares in the last quarter. 77.04% of the stock is owned by institutional investors.

Bloom Energy Stock Down 3.8 %

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 $5.31 billion, a P/E ratio of -41.12 and a beta of 3.30. The firm's 50 day moving average price is $24.10 and its two-hundred day moving average price is $19.50.

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.