Bloom Energy Co. (NYSE:BE - Get Free Report) shares traded down 4.3% during mid-day trading on Thursday after Truist Financial lowered their price target on the stock from $22.00 to $19.00. Truist Financial currently has a hold rating on the stock. Bloom Energy traded as low as $17.05 and last traded at $17.06. 875,368 shares traded hands during trading, a decline of 87% from the average session volume of 6,728,712 shares. The stock had previously closed at $17.83.
A number of other equities analysts also recently commented on the stock. Hsbc Global Res upgraded shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. BMO Capital Markets reiterated a "market perform" rating on shares of Bloom Energy in a research report on Friday, February 28th. Piper Sandler reduced their price target on Bloom Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Jefferies Financial Group cut their price objective on Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. Finally, Redburn Atlantic lowered shares of Bloom Energy from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $14.50 to $10.00 in a research report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $22.97.
Get Our Latest Report on BE
Insider Activity
In related news, insider Satish Chitoori sold 1,020 shares of the 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 transaction, the insider now directly owns 178,656 shares of the company's stock, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.81% of the company's stock.
Institutional Investors Weigh In On Bloom Energy
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new position in Bloom Energy in the fourth quarter valued at approximately $28,000. Smartleaf Asset Management LLC raised its stake in shares of 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 during the period. Jones Financial Companies Lllp lifted its holdings 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. Wilmington Savings Fund Society FSB purchased a new stake in Bloom Energy during the 3rd quarter worth $34,000. Finally, Quarry LP acquired a new stake in Bloom Energy in the 4th quarter valued at $35,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.
Bloom Energy Stock Up 3.0 %
The firm has a 50-day simple moving average of $21.72 and a 200 day simple moving average of $20.72. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The company has a market capitalization of $3.89 billion, a PE ratio of -30.12 and a beta of 3.27.
About Bloom Energy
(
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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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