Bloom Energy (NYSE:BE) Stock Price Up 7.3% After Analyst Upgrade

Shares of Bloom Energy Co. (NYSE:BE) were up 7.3% during mid-day 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 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 analysts also recently weighed in on the company. Bank of America decreased their target price on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a research note on Thursday, November 7th. Truist Financial reduced their price objective on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th. Susquehanna boosted their target price on shares of Bloom Energy from $13.00 to $16.00 and gave the stock a “positive” rating in a research report on Tuesday, November 12th. Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, BMO Capital Markets boosted 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $19.14.

Insiders Place Their Bets

In related news, CEO Kr Sridhar sold 72,903 shares of the stock in a transaction that occurred on 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 in the company, valued at $46,777,216.86. This represents a 3.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy 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 owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,975 shares of company stock worth $3,045,019 over the last three months. 8.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Bloom Energy

Large investors have recently made changes to their positions in the business. Millburn Ridgefield Corp lifted its position in Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after buying an additional 528 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Bloom Energy in the 3rd quarter valued at about $34,000. ORG Partners LLC bought a new position in shares of Bloom Energy in the second quarter worth about $40,000. Quest Partners LLC lifted its position in shares of Bloom Energy by 2,780.0% during the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after purchasing an additional 3,475 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in shares of Bloom Energy during the second quarter valued at approximately $53,000. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Trading Up 4.0 %

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 business’s fifty day moving average is $12.87 and its two-hundred day moving average is $12.93. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of -50.20 and a beta of 2.71.

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.