Bloom Energy (NYSE:BE) Raised to Hold at Hsbc Global Res

Hsbc Global Res upgraded shares of Bloom Energy (NYSE:BE) to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

Several other equities research analysts have also issued reports on BE. 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 research note on Wednesday. BTIG Research boosted their price target on Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. UBS Group lowered their price objective on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Bank of America reduced their target price on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a report on Thursday, November 7th. Finally, BMO Capital Markets upped their target price on Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Bloom Energy has an average rating of “Hold” and a consensus price target of $18.66.

Bloom Energy Stock Up 7.6 %

Bloom Energy stock opened at $25.76 on Wednesday. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $26.26. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The firm has a market cap of $5.89 billion, a PE ratio of -46.01 and a beta of 2.71. The firm’s 50 day moving average price is $12.22 and its two-hundred day moving average price is $12.71.

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the 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 transaction, the insider now directly owns 168,561 shares of the company’s stock, valued at $4,139,858.16. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the sale, the chief executive officer now directly owns 1,869,593 shares of the company’s stock, valued at $46,777,216.86. The trade was a 3.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,975 shares of company stock valued at $3,045,019. 8.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Millburn Ridgefield Corp increased its position in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after acquiring an additional 528 shares during the period. ORG Partners LLC bought a new position in shares of Bloom Energy during the second quarter worth approximately $40,000. Quest Partners LLC raised its position in shares of Bloom Energy by 2,780.0% in the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after buying an additional 3,475 shares in the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in shares of Bloom Energy in the second quarter valued at approximately $53,000. Finally, Mather Group LLC. acquired a new stake in Bloom Energy during the second quarter worth approximately $66,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

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.