HSBC Downgrades Bloom Energy (NYSE:BE) to Hold

HSBC lowered shares of Bloom Energy (NYSE:BE - Free Report) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, Marketbeat.com reports. They currently have $24.50 price target on the stock.

BE has been the subject of several other reports. Susquehanna boosted their target price on shares of Bloom Energy from $13.00 to $16.00 and gave the stock a "positive" rating in a research report on Tuesday, November 12th. UBS Group dropped their price target on shares of Bloom Energy from $25.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, August 15th. BTIG Research increased their target price on shares of Bloom Energy from $16.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Truist Financial decreased their price target on shares of Bloom Energy from $13.00 to $12.00 and set a "hold" rating on the stock in a report on Wednesday, October 16th. Finally, Bank of America reduced their target price on shares of Bloom Energy from $8.00 to $7.00 and set an "underperform" rating on the stock in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Bloom Energy currently has a consensus rating of "Moderate Buy" and an average price target of $17.55.

Bloom Energy Stock Performance

Shares of NYSE:BE traded up $1.05 on Wednesday, reaching $24.80. 14,211,209 shares of the company's stock were exchanged, compared to its average volume of 6,470,753. The company has a fifty day moving average of $11.36 and a 200-day moving average of $12.45. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $25.12. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of -43.09 and a beta of 2.71. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the company's 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 transaction, the insider now directly owns 168,561 shares of the company's stock, valued at $4,139,858.16. This represents a 0.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mizuho Markets Americas LLC boosted its holdings in shares of Bloom Energy by 8.2% during the third quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company's stock worth $4,335,000 after acquiring an additional 31,189 shares during the period. Parametrica Management Ltd acquired a new position in shares of Bloom Energy during the third quarter worth $785,000. International Assets Investment Management LLC increased its holdings in Bloom Energy by 1,490.8% in the third quarter. International Assets Investment Management LLC now owns 185,328 shares of the company's stock valued at $19,570,000 after purchasing an additional 173,678 shares during the period. Oppenheimer & Co. Inc. increased its holdings in Bloom Energy by 148.8% in the third quarter. Oppenheimer & Co. Inc. now owns 130,418 shares of the company's stock valued at $1,377,000 after purchasing an additional 78,009 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Bloom Energy by 13.1% in the third quarter. Van ECK Associates Corp now owns 661,932 shares of the company's stock valued at $6,990,000 after purchasing an additional 76,536 shares during the period. 77.04% of the stock is owned by institutional investors and hedge funds.

About Bloom Energy

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.