Bloom Energy (NYSE:BE) Stock Price Up 9.8% - What's Next?

Bloom Energy Co. (NYSE:BE - Get Free Report) was up 9.8% on Monday . The stock traded as high as $18.48 and last traded at $18.22. Approximately 2,019,713 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 6,607,030 shares. The stock had previously closed at $16.60.

Analyst Ratings Changes

Several research firms have recently issued reports on BE. Truist Financial increased their target price on Bloom Energy from $11.00 to $22.00 and gave the stock a "hold" rating in a report on Thursday, January 16th. TD Cowen increased their price objective on shares of Bloom Energy from $13.00 to $20.00 and gave the stock a "hold" rating in a research note on Friday, February 28th. Royal Bank of Canada reissued an "outperform" rating on shares of Bloom Energy in a report on Tuesday, April 1st. Redburn Atlantic downgraded shares of Bloom Energy from a "neutral" rating to a "sell" rating and cut their price target for the stock from $14.50 to $10.00 in a report on Wednesday. Finally, Robert W. Baird increased their price target on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.29.

Bloom Energy Price Performance

The company has a 50 day moving average price of $22.56 and a 200-day moving average price of $20.37. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The company has a market cap of $4.06 billion, a price-to-earnings ratio of -31.48 and a beta of 3.27.

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Insider Activity

In related news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy 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 directly owns 171,040 shares of the company's stock, valued at $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction 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. Insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Joule Financial LLC raised its stake in Bloom Energy by 99.7% during the first quarter. Joule Financial LLC now owns 31,249 shares of the company's stock worth $614,000 after buying an additional 15,598 shares during the last quarter. Udine Wealth Management Inc. bought a new stake in Bloom Energy during the first quarter valued at $794,000. MRA Advisory Group acquired a new stake in Bloom Energy during the 1st quarter worth about $374,000. Chesley Taft & Associates LLC raised its position in shares of Bloom Energy by 27.7% in the 1st quarter. Chesley Taft & Associates LLC now owns 12,956 shares of the company's stock worth $255,000 after acquiring an additional 2,807 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Bloom Energy by 2.8% in the 1st quarter. Rhumbline Advisers now owns 298,283 shares of the company's stock valued at $5,864,000 after purchasing an additional 8,212 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.