Bloom Energy (NYSE:BE) Shares Up 5.2% on Analyst Upgrade

Bloom Energy Co. (NYSE:BE)’s stock price was up 5.2% during mid-day trading 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 changed hands during trading, a decline of 59% from the average daily volume of 5,177,137 shares. The stock had previously closed at $25.53.

Other equities analysts have also recently issued research reports about the company. Bank of America boosted their price objective on Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a report on Monday, December 9th. Morgan Stanley upped their price target on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. HSBC lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective for the company. in a report on Wednesday, November 20th. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. Finally, Susquehanna lifted their price target on shares of Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $23.08.

Insider Buying and Selling

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the firm’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 completion of the sale, the insider now 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kr Sridhar sold 72,903 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the transaction, the chief executive officer now owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. This trade represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,528 shares of company stock worth $3,061,501 in the last 90 days. 8.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Millburn Ridgefield Corp increased its position 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 period. GAMMA Investing LLC increased its holdings in shares of 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 during the period. Xponance Inc. increased its holdings in shares of Bloom Energy by 7.8% in the second quarter. Xponance Inc. now owns 12,542 shares of the company’s stock valued at $154,000 after purchasing an additional 903 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Bloom Energy by 2.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 47,400 shares of the company’s stock worth $1,053,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of Bloom Energy by 3.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock worth $374,000 after purchasing an additional 1,349 shares during the period. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Trading Up 7.2 %

The stock has a 50-day moving average of $24.77 and a 200 day moving average of $16.16. 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 stock has a market cap of $6.78 billion, a PE ratio of -52.95 and a beta of 3.06.

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.