Bloom Energy Co. (NYSE:BE) Receives Consensus Rating of “Hold” from Brokerages

Bloom Energy Co. (NYSE:BE) has received an average rating of “Hold” from the twenty-two ratings firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $24.29.

A number of research firms recently commented on BE. BMO Capital Markets reissued a “market perform” rating on shares of Bloom Energy in a report on Friday, February 28th. BTIG Research boosted their price target on Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Bank of America dropped their price objective on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Truist Financial boosted their target price on Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, TD Cowen lifted their price target on Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, February 28th.

Insider Transactions at Bloom Energy

In related news, insider Satish Chitoori sold 1,020 shares of the stock in a transaction that occurred on 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 $4,482,479.04. This represents a 0.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction on 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 directly owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Several hedge funds have recently modified their holdings of the company. Mainstream Capital Management LLC acquired a new stake in Bloom Energy in the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC lifted its position in shares of Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after acquiring an additional 934 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after acquiring an additional 812 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Bloom Energy in the 3rd quarter worth $34,000. Finally, Quarry LP acquired a new stake in shares of Bloom Energy during the fourth quarter worth $35,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Price Performance

Bloom Energy stock opened at $17.92 on Thursday. The company has a market cap of $4.13 billion, a P/E ratio of -32.00 and a beta of 3.27. Bloom Energy has a one year low of $9.02 and a one year high of $29.83. The business has a fifty day moving average of $22.80 and a two-hundred day moving average of $20.27. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

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.