Bloom Energy (NYSE:BE) Lowered to Hold Rating by HSBC

Bloom Energy (NYSE:BE) was downgraded by equities research analysts at HSBC from a “buy” rating to a “hold” rating in a report issued on Wednesday, MarketBeat reports. They presently have a $24.50 price objective on the stock. HSBC’s target price points to a potential upside of 2.34% from the company’s previous close.

BE has been the topic of a number of other reports. UBS Group cut their target price on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Piper Sandler raised shares of Bloom Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $10.00 to $20.00 in a research note on Friday, November 15th. Royal Bank of Canada upped their target price on shares of Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday. Robert W. Baird cut their price target on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.55.

Bloom Energy Stock Down 3.5 %

Shares of Bloom Energy stock opened at $23.94 on Wednesday. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $25.12. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of -44.27 and a beta of 2.71. 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 business’s 50 day simple moving average is $11.64 and its 200-day simple moving average is $12.53.

Insiders Place Their Bets

In other 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 transaction of $31,657.84. Following the completion of the sale, the insider now owns 168,561 shares in the company, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds have recently modified their holdings of BE. Electron Capital Partners LLC increased its position in shares of Bloom Energy by 131.5% in the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after acquiring an additional 1,790,733 shares in the last quarter. JAT Capital Mgmt LP grew its position in Bloom Energy by 50.0% during the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after purchasing an additional 733,363 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in Bloom Energy during the 2nd quarter valued at $7,502,000. DigitalBridge Group Inc. lifted its holdings in shares of Bloom Energy by 66.3% in the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after purchasing an additional 462,581 shares in the last quarter. Finally, Pier Capital LLC acquired a new stake in shares of Bloom Energy in the second quarter worth $5,602,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.