Bloom Energy (NYSE:BE) Trading Up 7.5% - Here's Why

Bloom Energy Co. (NYSE:BE - Get Free Report) rose 7.5% during mid-day trading on Friday . The company traded as high as $25.30 and last traded at $25.13. Approximately 2,027,901 shares were traded during trading, a decline of 33% from the average daily volume of 3,015,760 shares. The stock had previously closed at $23.37.

Analyst Ratings Changes

Several brokerages have weighed in on BE. Robert W. Baird boosted their price target on Bloom Energy from $15.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, December 12th. Royal Bank of Canada upped their target price on Bloom Energy from $15.00 to $28.00 and gave the company an "outperform" rating in a research note on Monday, November 18th. Bank of America raised their price target on Bloom Energy from $7.00 to $20.00 and gave the stock an "underperform" rating in a research note on Monday, December 9th. Susquehanna upped their price objective on shares of Bloom Energy from $20.00 to $33.00 and gave the company a "positive" rating in a research note on Friday, December 6th. Finally, BMO Capital Markets raised their target price on shares of Bloom Energy from $12.00 to $19.50 and gave the stock a "market perform" rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $22.45.

Bloom Energy Stock Performance

The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The company has a market cap of $5.56 billion, a price-to-earnings ratio of -43.43 and a beta of 3.04. The stock has a 50 day simple moving average of $20.99 and a 200 day simple moving average of $14.89.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the sale, the insider now owns 168,561 shares in the company, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kr Sridhar sold 46,697 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total value of $1,167,425.00. Following the completion of the transaction, the chief executive officer now directly owns 1,822,496 shares in the company, valued at approximately $45,562,400. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 122,975 shares of company stock worth $3,045,019 in the last 90 days. 3.50% of the stock is owned by company insiders.

Institutional Trading of Bloom Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its stake in Bloom Energy by 15.1% in the second quarter. Bank of New York Mellon Corp now owns 773,658 shares of the company's stock worth $9,470,000 after purchasing an additional 101,519 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Bloom Energy by 1,152.2% in the 2nd quarter. Principal Financial Group Inc. now owns 324,509 shares of the company's stock valued at $3,972,000 after acquiring an additional 298,593 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Bloom Energy by 45.8% during the 2nd quarter. Natixis Advisors LLC now owns 55,741 shares of the company's stock valued at $682,000 after acquiring an additional 17,522 shares in the last quarter. Roubaix Capital LLC bought a new position in Bloom Energy during the second quarter worth $1,753,000. Finally, Arizona State Retirement System boosted its holdings in Bloom Energy by 2.7% in the second quarter. Arizona State Retirement System now owns 56,886 shares of the company's stock worth $696,000 after purchasing an additional 1,470 shares during the period. Institutional investors 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.