Bloom Energy (NYSE:BE) Upgraded to "Buy" at HSBC

HSBC upgraded shares of Bloom Energy (NYSE:BE - Free Report) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning,Benzinga reports. HSBC currently has $25.00 price objective on the stock.

A number of other research firms also recently commented on BE. Piper Sandler reduced their price target on shares of Bloom Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Mizuho initiated coverage on Bloom Energy in a report on Tuesday, March 18th. They issued a "neutral" rating and a $28.00 price target on the stock. TD Cowen upped their price objective on Bloom Energy from $13.00 to $20.00 and gave the stock a "hold" rating in a research note on Friday, February 28th. Morgan Stanley lifted their target price on Bloom Energy from $28.00 to $35.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Finally, Truist Financial increased their price target on shares of Bloom Energy from $11.00 to $22.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $24.29.

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Bloom Energy Trading Up 4.6 %

BE traded up $0.78 during trading on Tuesday, hitting $17.63. 6,729,752 shares of the stock were exchanged, compared to its average volume of 6,891,278. Bloom Energy has a 1 year low of $9.02 and a 1 year high of $29.83. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of -31.48 and a beta of 3.27. The firm has a 50 day simple moving average of $22.56 and a 200 day simple moving average of $20.37. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Insiders Place Their Bets

In related news, insider Satish Chitoori sold 1,020 shares of the business's stock in a transaction 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 completion of the transaction, the insider now directly owns 178,656 shares in the company, valued at $4,482,479.04. The trade was a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $38,385.38. Following the completion of the sale, the insider now directly owns 171,040 shares in the company, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. SPX Gestao de Recursos Ltda acquired a new stake in shares of Bloom Energy during the 4th quarter worth approximately $4,442,000. Duff & Phelps Investment Management Co. purchased a new position in shares of Bloom Energy in the 3rd quarter valued at about $517,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Bloom Energy by 184.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company's stock worth $9,209,000 after purchasing an additional 262,247 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Bloom Energy by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company's stock valued at $36,737,000 after purchasing an additional 10,265 shares during the period. Finally, Bailard Inc. purchased a new position in shares of Bloom Energy during the 4th quarter valued at approximately $1,278,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

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.