Bloom Energy (NYSE:BE) Rating Lowered to Sell at Redburn Atlantic

Redburn Atlantic lowered shares of Bloom Energy (NYSE:BE - Free Report) from a neutral rating to a sell rating in a research note released on Wednesday, MarketBeat Ratings reports. The brokerage currently has $10.00 target price on the stock, down from their prior target price of $14.50.

A number of other equities analysts have also recently weighed in on BE. Bank of America lowered their price target on shares of Bloom Energy from $20.00 to $18.00 and set an "underperform" rating on the stock in a research note on Tuesday, January 28th. Truist Financial increased their target price on shares of Bloom Energy from $11.00 to $22.00 and gave the company a "hold" rating in a report on Thursday, January 16th. TD Cowen boosted their price target on Bloom Energy from $13.00 to $20.00 and gave the stock a "hold" rating in a research note on Friday, February 28th. Piper Sandler lowered their price target on Bloom Energy from $33.00 to $31.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Finally, Roth Mkm started coverage on Bloom Energy in a report on Wednesday, December 11th. They set a "neutral" rating and a $25.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.29.

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Bloom Energy Price Performance

Shares of BE traded up $0.78 during mid-day trading on Wednesday, hitting $17.63. The company's stock had a trading volume of 6,729,752 shares, compared to its average volume of 6,891,278. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. Bloom Energy has a 1-year low of $9.02 and a 1-year high of $29.83. The firm has a market capitalization of $4.06 billion, a P/E 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.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the transaction, the insider now owns 171,040 shares in the company, valued at $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the business's stock in a transaction that occurred 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 in the company, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Bloom Energy

A number of large investors have recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC boosted its position in Bloom Energy by 3.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company's stock valued at $374,000 after buying an additional 1,349 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Bloom Energy during the 3rd quarter valued at approximately $34,000. Peapack Gladstone Financial Corp grew its stake in Bloom Energy by 4.4% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 271,924 shares of the company's stock valued at $2,871,000 after purchasing an additional 11,525 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Bloom Energy by 62.4% in the 3rd quarter. Franklin Resources Inc. now owns 125,598 shares of the company's stock valued at $1,314,000 after purchasing an additional 48,258 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of Bloom Energy by 21.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 21,404 shares of the company's stock worth $226,000 after buying an additional 3,824 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

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.