Bloom Energy (NYSE:BE) Shares Up 8% - Still a Buy?

Bloom Energy Co. (NYSE:BE - Get Free Report)'s stock price traded up 8% during trading on Tuesday . The stock traded as high as $24.56 and last traded at $24.44. 2,119,781 shares changed hands during trading, a decline of 68% from the average session volume of 6,711,593 shares. The stock had previously closed at $22.62.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BE. Robert W. Baird upped their price objective on Bloom Energy from $15.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, December 12th. Jefferies Financial Group lifted their target price on Bloom Energy from $12.00 to $22.00 and gave the company a "hold" rating in a research note on Friday, November 22nd. Royal Bank of Canada increased their price target on Bloom Energy from $15.00 to $28.00 and gave the stock an "outperform" rating in a research note on Monday, November 18th. TD Cowen lifted their price objective on shares of Bloom Energy from $13.00 to $20.00 and gave the company a "hold" rating in a research note on Friday, February 28th. Finally, UBS Group increased their target price on shares of Bloom Energy from $21.00 to $33.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $24.47.

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Bloom Energy Price Performance

The company has a 50 day moving average of $24.12 and a 200 day moving average of $18.97. 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 firm has a market cap of $5.57 billion, a price-to-earnings ratio of -43.14 and a beta of 3.30.

Insider Transactions at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the company's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the transaction, the insider now directly owns 171,040 shares of the company's stock, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.81% of the stock is currently owned by insiders.

Institutional Trading of Bloom Energy

A number of institutional investors have recently made changes to their positions in BE. Vanguard Group Inc. boosted its position in Bloom Energy by 1.9% during the fourth 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 last quarter. Norges Bank acquired a new stake in shares of Bloom Energy in the 4th quarter valued at approximately $93,951,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Bloom Energy in the 4th quarter valued at approximately $61,968,000. JAT Capital Mgmt LP grew its stake in shares of Bloom Energy by 50.0% in 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 in the last quarter. 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. 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.