Bloom Energy Co. (NYSE:BE - Get Free Report)'s stock price fell 7.2% on Tuesday after Bank of America lowered their price target on the stock from $20.00 to $18.00. Bank of America currently has an underperform rating on the stock. Bloom Energy traded as low as $20.73 and last traded at $20.80. 4,502,055 shares traded hands during trading, a decline of 35% from the average session volume of 6,893,055 shares. The stock had previously closed at $22.42.
Other equities analysts have also recently issued reports about the stock. Marathon Capitl upgraded shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 11th. Roth Mkm started coverage on Bloom Energy in a report on Wednesday, December 11th. They set a "neutral" rating and a $25.00 price target on the stock. HSBC downgraded Bloom Energy from a "buy" rating to a "hold" rating and set a $24.50 price objective for the company. in a research note on Wednesday, November 20th. BMO Capital Markets boosted their price objective on shares of Bloom Energy from $12.00 to $19.50 and gave the company a "market perform" rating in a research report on Friday, November 15th. Finally, Hsbc Global Res upgraded shares of Bloom Energy to a "hold" rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $23.13.
Check Out Our Latest Stock Report on Bloom Energy
Insider Activity at Bloom Energy
In related news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the transaction, the insider now directly owns 168,561 shares of the company's stock, valued at $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kr Sridhar sold 72,903 shares of the business's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the transaction, the chief executive officer now directly owns 1,869,593 shares of the company's stock, valued at approximately $46,777,216.86. This represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 122,528 shares of company stock valued at $3,061,501 in the last ninety days. Insiders own 8.81% of the company's stock.
Institutional Investors Weigh In On Bloom Energy
Several institutional investors have recently modified their holdings of BE. Sei Investments Co. increased its holdings in Bloom Energy by 86.2% in the second quarter. Sei Investments Co. now owns 44,436 shares of the company's stock valued at $544,000 after purchasing an additional 20,565 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Bloom Energy by 6.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 114,705 shares of the company's stock valued at $1,404,000 after acquiring an additional 7,205 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Bloom Energy in the 2nd quarter valued at approximately $251,000. Creative Planning boosted its stake in Bloom Energy by 31.5% during the 2nd quarter. Creative Planning now owns 34,394 shares of the company's stock worth $421,000 after acquiring an additional 8,244 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Bloom Energy during the second quarter valued at approximately $215,000. Institutional investors and hedge funds own 77.04% of the company's stock.
Bloom Energy Trading Up 0.3 %
The company's fifty day simple moving average is $24.60 and its two-hundred day simple moving average is $16.48. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of -42.11 and a beta of 3.06. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09.
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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