Bloom Energy Co. (NYSE:BE - Get Free Report)'s share price traded down 17.9% during trading on Friday . The stock traded as low as $15.84 and last traded at $15.88. 4,896,441 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 6,502,913 shares. The stock had previously closed at $19.34.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on BE shares. HSBC raised Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 target price for the company in a research report on Tuesday. BTIG Research upped their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. Roth Mkm initiated coverage on Bloom Energy in a research note on Wednesday, December 11th. They issued a "neutral" rating and a $25.00 target price for the company. Mizuho assumed coverage on shares of Bloom Energy in a research note on Tuesday, March 18th. They set a "neutral" rating and a $28.00 price target for the company. Finally, JPMorgan Chase & Co. increased their target price on Bloom Energy from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $25.08.
View Our Latest Report on BE
Bloom Energy Trading Down 1.5 %
The company has a market cap of $3.91 billion, a P/E ratio of -30.32 and a beta of 3.27. 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 business has a 50 day moving average price of $23.21 and a 200-day moving average price of $20.22.
Insider Activity
In other news, insider Shawn Marie Soderberg sold 1,639 shares of the company's 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 transaction, the insider now owns 171,040 shares of the company's stock, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the sale, the insider now directly owns 178,656 shares of the company's stock, valued at $4,482,479.04. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. 3.50% of the stock is owned by insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its holdings in shares of Bloom Energy by 291.0% during 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. Mainstream Capital Management LLC acquired a new stake in shares of Bloom Energy during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp increased its stake in Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock valued at $33,000 after purchasing an additional 812 shares in the last quarter. Quarry LP acquired a new position in Bloom Energy during the 4th quarter worth approximately $35,000. Finally, Avior Wealth Management LLC acquired a new position in shares of Bloom Energy during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 77.04% of the company's stock.
About Bloom Energy
(
Get Free Report)
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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