Bloom Energy (NYSE:BE) Shares Gap Up Following Analyst Upgrade

Bloom Energy Co. (NYSE:BE)’s share price gapped up prior to trading on Thursday after Morgan Stanley raised their price target on the stock from $28.00 to $35.00. The stock had previously closed at $24.31, but opened at $25.20. Morgan Stanley currently has an overweight rating on the stock. Bloom Energy shares last traded at $25.62, with a volume of 1,402,072 shares.

A number of other research analysts also recently issued reports on the company. HSBC downgraded Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target on the stock. in a report on Wednesday, November 20th. Hsbc Global Res raised Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. upped their price target on Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. TD Cowen upped their price target on Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a report on Friday, February 28th. Finally, Truist Financial upped their price target on Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Bloom Energy currently has a consensus rating of “Hold” and an average price target of $25.06.

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the transaction, the insider now owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the transaction, the insider now directly owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its stake in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after buying an additional 934 shares during the last quarter. Mainstream Capital Management LLC bought a new position in Bloom Energy during the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp boosted its stake in Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after buying an additional 812 shares during the last quarter. Quarry LP bought a new position in Bloom Energy during the fourth quarter valued at approximately $35,000. Finally, Avior Wealth Management LLC bought a new position in Bloom Energy during the fourth quarter valued at approximately $40,000. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Performance

The company has a market capitalization of $5.51 billion, a P/E ratio of -42.68 and a beta of 3.30. The business has a 50 day moving average of $24.10 and a 200 day moving average of $19.30. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09.

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.