Roth Mkm Initiates Coverage on Bloom Energy (NYSE:BE)

Roth Mkm initiated coverage on shares of Bloom Energy (NYSE:BE) in a report released on Wednesday morning, MarketBeat.com reports. The firm issued a neutral rating and a $25.00 price objective on the stock.

Several other brokerages also recently issued reports on BE. HSBC downgraded Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective for the company. in a research report on Wednesday, November 20th. UBS Group boosted their price target on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Hsbc Global Res raised Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, BMO Capital Markets raised their price target on shares of Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.92.

Bloom Energy Stock Performance

NYSE:BE opened at $25.60 on Wednesday. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $28.70. The company has a market capitalization of $5.85 billion, a P/E ratio of -45.71 and a beta of 3.04. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The firm has a 50-day moving average price of $16.89 and a two-hundred day moving average price of $14.02.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the transaction, the insider now directly owns 168,561 shares of the company’s stock, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kr Sridhar sold 46,697 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 1,822,496 shares of the company’s stock, valued at $45,562,400. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,975 shares of company stock worth $3,045,019 in the last three months. 8.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bloom Energy

Large investors have recently added to or reduced their stakes in the company. Mizuho Markets Americas LLC raised its position in shares of Bloom Energy by 8.2% in the 3rd quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock valued at $4,335,000 after purchasing an additional 31,189 shares in the last quarter. Duff & Phelps Investment Management Co. acquired a new stake in Bloom Energy in the third quarter valued at $517,000. Parametrica Management Ltd bought a new position in Bloom Energy during the 3rd quarter valued at $785,000. Edgestream Partners L.P. bought a new stake in shares of Bloom Energy in the 3rd quarter worth about $3,274,000. Finally, Penserra Capital Management LLC raised its stake in shares of Bloom Energy by 20.7% in the 3rd quarter. Penserra Capital Management LLC now owns 165,660 shares of the company’s stock valued at $1,749,000 after purchasing an additional 28,416 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

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.