Bloom Energy (NYSE:BE) Stock Price Up 4.4% Following Analyst Upgrade

Bloom Energy Co. (NYSE:BE) shares traded up 4.4% during mid-day trading on Thursday after Robert W. Baird raised their price target on the stock from $15.00 to $32.00. Robert W. Baird currently has an outperform rating on the stock. Bloom Energy traded as high as $24.88 and last traded at $24.63. 693,170 shares were traded during mid-day trading, a decline of 89% from the average session volume of 6,569,111 shares. The stock had previously closed at $23.60.

Several other research analysts also recently issued reports on the company. BTIG Research upped their price objective on Bloom Energy from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Jefferies Financial Group upped their price target on shares of Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Susquehanna lifted their price target on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a report on Friday, December 6th. Piper Sandler increased their price objective on Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $21.92.

Insider Activity

In related 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 value of $31,657.84. Following the sale, the insider now owns 168,561 shares in the company, valued at $4,139,858.16. This represents a 0.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the transaction, the chief executive officer now owns 1,869,593 shares of the company’s stock, valued at $46,777,216.86. This trade represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 122,975 shares of company stock worth $3,045,019. Company insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Several institutional investors have recently bought and sold shares of the stock. Mizuho Markets Americas LLC boosted its position in Bloom Energy by 8.2% in the third quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock worth $4,335,000 after purchasing an additional 31,189 shares during the last quarter. Duff & Phelps Investment Management Co. purchased a new position in shares of Bloom Energy in the 3rd quarter worth about $517,000. Parametrica Management Ltd purchased a new position in shares of Bloom Energy in the 3rd quarter worth about $785,000. Edgestream Partners L.P. purchased a new stake in Bloom Energy during the third quarter worth about $3,274,000. Finally, Penserra Capital Management LLC raised its position in Bloom Energy by 20.7% in the third quarter. Penserra Capital Management LLC now owns 165,660 shares of the company’s stock worth $1,749,000 after acquiring an additional 28,416 shares during the period. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Trading Up 3.2 %

The stock’s 50 day simple moving average is $16.89 and its two-hundred day simple moving average is $14.02. The stock has a market capitalization of $5.85 billion, a PE ratio of -45.71 and a beta of 3.04. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

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.