Bloom Energy (NYSE:BE) Trading Up 7.8% - Time to Buy?

Bloom Energy Co. (NYSE:BE - Get Free Report) shares rose 7.8% during mid-day trading on Wednesday . The company traded as high as $24.95 and last traded at $24.92. Approximately 1,302,404 shares changed hands during trading, a decline of 82% from the average daily volume of 7,107,338 shares. The stock had previously closed at $23.11.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. HSBC cut shares of Bloom Energy from a "buy" rating to a "hold" rating and set a $24.50 target price for the company. in a research report on Wednesday, November 20th. Roth Capital upgraded Bloom Energy to a "hold" rating in a report on Tuesday, December 10th. Susquehanna boosted their price target on Bloom Energy from $20.00 to $33.00 and gave the stock a "positive" rating in a report on Friday, December 6th. Marathon Capitl upgraded Bloom Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 11th. Finally, Robert W. Baird boosted their target price on shares of Bloom Energy from $15.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $23.72.

Bloom Energy Stock Performance

The firm has a 50-day simple moving average of $24.33 and a 200 day simple moving average of $16.80. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Insider Activity at Bloom Energy

In related news, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction 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 completion of the sale, the chief executive officer now owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,528 shares of company stock worth $3,061,501. 8.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors have recently modified their holdings of BE. Smartleaf Asset Management LLC increased its holdings in Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock valued at $28,000 after buying an additional 934 shares during the last quarter. Mainstream Capital Management LLC acquired a new position in shares of Bloom Energy in the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp raised its position in shares of Bloom Energy by 120.5% during the 4th 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 in the last quarter. Avior Wealth Management LLC bought a new position in Bloom Energy during the fourth quarter worth $40,000. Finally, Millburn Ridgefield Corp boosted its holdings in Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock worth $25,000 after purchasing an additional 528 shares during the period. Institutional investors and hedge funds own 77.04% of the company's stock.

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.