Bloom Energy (NYSE:BE) Trading Up 7.3% on Analyst Upgrade

Bloom Energy Co. (NYSE:BE) rose 7.3% during trading on Wednesday after UBS Group raised their price target on the stock from $21.00 to $33.00. UBS Group currently has a buy rating on the stock. Bloom Energy traded as high as $28.36 and last traded at $28.08. Approximately 1,158,056 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 6,508,571 shares. The stock had previously closed at $26.17.

Several other equities research analysts also recently issued reports on the company. Royal Bank of Canada lifted their price objective on Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Piper Sandler upped their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Jefferies Financial Group raised their price objective on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. BTIG Research upped their target price on shares of Bloom Energy from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Morgan Stanley lifted their price target on Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.18.

Insider Activity at Bloom Energy

In related news, CEO Kr Sridhar sold 46,697 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the sale, the chief executive officer now directly owns 1,822,496 shares in the company, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the transaction, the insider now directly owns 168,561 shares in the company, valued at $4,139,858.16. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock worth $3,045,019 over the last quarter. 3.50% of the stock is currently owned by company insiders.

Institutional Trading of Bloom Energy

Several institutional investors and hedge funds have recently bought and sold shares of BE. Vanguard Group Inc. boosted its position in shares of Bloom Energy by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock worth $221,262,000 after buying an additional 156,434 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Bloom Energy by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 116,882 shares of the company’s stock worth $1,314,000 after acquiring an additional 6,902 shares during the period. Tidal Investments LLC purchased a new position in Bloom Energy during the 1st quarter valued at about $370,000. Comerica Bank grew its stake in Bloom Energy by 222.8% during the 1st quarter. Comerica Bank now owns 23,884 shares of the company’s stock valued at $268,000 after acquiring an additional 16,484 shares in the last quarter. Finally, Cetera Advisors LLC increased its holdings in shares of Bloom Energy by 201.2% in the 1st quarter. Cetera Advisors LLC now owns 37,019 shares of the company’s stock valued at $416,000 after purchasing an additional 24,730 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Stock Up 8.1 %

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 firm has a market capitalization of $6.46 billion, a PE ratio of -50.14 and a beta of 2.71. The business’s 50-day moving average price is $12.87 and its 200-day moving average price is $12.93.

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.