Bloom Energy (NYSE:BE) Rating Increased to Hold at Roth Capital

Roth Capital upgraded shares of Bloom Energy (NYSE:BE) to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on BE. Robert W. Baird cut their target price on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Piper Sandler lifted their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. BMO Capital Markets upped 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. Royal Bank of Canada raised their price target on Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Finally, Roth Mkm began coverage on Bloom Energy in a research report on Wednesday. They issued a “neutral” rating and a $25.00 target price for the company. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $21.92.

Bloom Energy Stock Performance

NYSE:BE opened at $24.80 on Tuesday. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $28.70. The stock has a market capitalization of $5.67 billion, a PE ratio of -44.29 and a beta of 3.04. The company has a fifty day moving average of $16.60 and a two-hundred day moving average of $13.96. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the transaction, the insider now directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kr Sridhar sold 46,697 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total value of $1,167,425.00. Following the sale, the chief executive officer now directly owns 1,822,496 shares in the company, valued at $45,562,400. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,975 shares of company stock valued at $3,045,019. 8.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Millburn Ridgefield Corp raised its holdings in shares of Bloom Energy by 29.2% in 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 last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Bloom Energy during the 3rd quarter worth about $34,000. ORG Partners LLC acquired a new position in Bloom Energy in the 2nd quarter valued at about $40,000. Quest Partners LLC lifted its holdings in Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after purchasing an additional 3,475 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Bloom Energy during the 2nd quarter worth about $53,000. 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.