Bloom Energy Co. (NYSE:BE) Given Average Recommendation of “Hold” by Brokerages

Shares of Bloom Energy Co. (NYSE:BE) have earned an average rating of “Hold” from the twenty-three brokerages that are presently covering the company, MarketBeat reports. 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 assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $22.45.

Several research analysts have recently weighed in on BE shares. Marathon Capitl upgraded shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. BTIG Research lifted their price target on Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Morgan Stanley upped their price objective on Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Roth Mkm began coverage on Bloom Energy in a research report on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 target price on the stock. Finally, Truist Financial reduced their price target on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th.

Insider Buying and Selling at Bloom Energy

In other news, CEO Kr Sridhar sold 72,903 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the sale, the chief executive officer now owns 1,869,593 shares in the company, valued at $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction that occurred on 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 owns 168,561 shares in the company, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,975 shares of company stock valued at $3,045,019 in the last quarter. 8.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors have recently modified their holdings of BE. Millburn Ridgefield Corp grew its position in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after buying an additional 528 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Bloom Energy during the 3rd quarter valued at $34,000. Quest Partners LLC grew its holdings in shares of Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after purchasing an additional 3,475 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Bloom Energy by 26.8% in the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after purchasing an additional 569 shares during the period. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in Bloom Energy in the third quarter valued at about $74,000. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Trading Up 4.5 %

NYSE:BE opened at $25.41 on Tuesday. The business’s 50-day simple moving average is $21.30 and its 200-day simple moving average is $14.99. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $28.70. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The stock has a market capitalization of $5.81 billion, a PE ratio of -45.37 and a beta of 3.06.

About Bloom Energy

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.