Bloom Energy (NYSE:BE) Trading 5.2% Higher After Analyst Upgrade

Bloom Energy Co. (NYSE:BE)’s share price rose 5.2% on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $14.00 to $16.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Bloom Energy traded as high as $26.86 and last traded at $26.85. Approximately 2,109,163 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 5,177,137 shares. The stock had previously closed at $25.53.

Several other research firms have also issued reports on BE. UBS Group lifted their price objective on shares of Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Hsbc Global Res raised Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. Truist Financial boosted 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. Roth Mkm started coverage on Bloom Energy in a research report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 target price for the company. Finally, Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Bloom Energy currently has a consensus rating of “Hold” and a consensus price target of $23.08.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction on 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 in the company, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 72,903 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total value of $1,824,033.06. Following the sale, the chief executive officer now owns 1,869,593 shares of the company’s stock, valued at approximately $46,777,216.86. The trade was a 3.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,528 shares of company stock worth $3,061,501. 8.81% of the stock is currently owned by insiders.

Institutional Trading of Bloom Energy

A number of institutional investors have recently bought and sold shares of BE. Millburn Ridgefield Corp increased its stake in shares of Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after acquiring an additional 528 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Bloom Energy during the third quarter valued at approximately $34,000. Avior Wealth Management LLC acquired a new position in Bloom Energy during the fourth quarter valued at approximately $40,000. GAMMA Investing LLC increased its stake in Bloom Energy by 26.8% in the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after purchasing an additional 569 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new position in shares of Bloom Energy during the third quarter worth $74,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Stock Up 5.7 %

The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The firm’s fifty day moving average price is $24.31 and its 200-day moving average price is $15.96. The company has a market cap of $6.17 billion, a price-to-earnings ratio of -48.18 and a beta of 3.06.

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.