Bloom Energy (NYSE:BE) Shares Up 7.5% – Still a Buy?

Bloom Energy Co. (NYSE:BE) shot up 7.5% during trading on Friday . The company traded as high as $25.30 and last traded at $25.13. 2,027,901 shares changed hands during trading, a decline of 33% from the average session volume of 3,015,760 shares. The stock had previously closed at $23.37.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group raised their price target on Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. HSBC downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target on the stock. in a research report on Wednesday, November 20th. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Finally, Marathon Capitl upgraded shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.45.

Bloom Energy Stock Up 4.1 %

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 cap of $5.56 billion, a price-to-earnings ratio of -43.43 and a beta of 3.06. The firm has a 50 day simple moving average of $20.99 and a two-hundred day simple moving average of $14.89.

Insider Activity at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $4,139,858.16. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kr Sridhar sold 72,903 shares of the firm’s stock in a transaction 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 owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock worth $3,045,019 in the last ninety days. Company insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Millburn Ridgefield Corp grew its holdings in shares of 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 buying an additional 528 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Bloom Energy during the 3rd quarter worth approximately $34,000. Quest Partners LLC grew its stake in shares of Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after acquiring an additional 3,475 shares in the last quarter. GAMMA Investing LLC raised 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 last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of Bloom Energy in the third quarter worth $74,000. 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.