Bloom Energy (NYSE:BE) Stock Price Up 4.4% on Analyst Upgrade

Bloom Energy Co. (NYSE:BE) shot up 4.4% during trading on Thursday after Robert W. Baird raised their price target on the stock from $15.00 to $32.00. Robert W. Baird currently has an outperform rating on the stock. Bloom Energy traded as high as $24.88 and last traded at $24.63. 693,170 shares were traded during trading, a decline of 89% from the average session volume of 6,569,111 shares. The stock had previously closed at $23.60.

Several other research analysts also recently commented on the stock. BMO Capital Markets raised their price objective on shares of Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a report on Friday, November 15th. Morgan Stanley raised their price target on Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Roth Capital upgraded Bloom Energy to a “hold” rating in a research note on Tuesday. Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, Jefferies Financial Group upped their price target on Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $21.92.

Insider Buying and Selling at Bloom Energy

In other news, CEO Kr Sridhar sold 46,697 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the transaction, the chief executive officer now directly owns 1,822,496 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. This trade 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 90 days. Corporate insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

Institutional investors have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. boosted its position in Bloom Energy by 21.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 21,404 shares of the company’s stock valued at $226,000 after buying an additional 3,824 shares during the period. Franklin Resources Inc. increased its holdings in Bloom Energy by 62.4% during 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 during the period. Peapack Gladstone Financial Corp raised its position 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 during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Bloom Energy in the 3rd quarter worth approximately $34,000. Finally, Duff & Phelps Investment Management Co. bought a new stake in shares of Bloom Energy in the 3rd quarter worth approximately $517,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Up 3.2 %

The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The stock has a market capitalization of $5.85 billion, a PE ratio of -45.71 and a beta of 3.04. The company has a 50 day moving average price of $16.89 and a 200-day moving average price of $14.02.

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.