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

Shares of Bloom Energy Co. (NYSE:BE) have been given a consensus rating of “Hold” by the twenty-three brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $23.13.

Several analysts have issued reports on the company. BTIG Research boosted their price target on Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, December 16th. Bank of America reduced their target price on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a report on Tuesday. Morgan Stanley lifted their price target on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Robert W. Baird raised their price objective on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Finally, Truist Financial upped their target price on shares of Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, January 16th.

Bloom Energy Trading Up 0.3 %

Shares of BE stock opened at $23.58 on Friday. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $29.83. The firm has a fifty day moving average price of $24.60 and a 200-day moving average price of $16.47. The company has a market cap of $5.39 billion, a price-to-earnings ratio of -42.11 and a beta of 3.06. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Insider Buying and Selling

In other Bloom Energy news, CEO Kr Sridhar sold 46,697 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were 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 owns 1,822,496 shares of the company’s stock, valued at $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the transaction, the insider now directly owns 171,040 shares in the company, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 122,528 shares of company stock worth $3,061,501. Corporate insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Several hedge funds have recently bought and sold shares of the business. Mizuho Markets Americas LLC boosted its stake in shares of Bloom Energy by 8.2% during the third 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 during the period. Duff & Phelps Investment Management Co. purchased a new stake in Bloom Energy in the 3rd quarter valued at about $517,000. Parametrica Management Ltd bought a new position in Bloom Energy in the 3rd quarter worth about $785,000. Edgestream Partners L.P. purchased a new stake in shares of Bloom Energy in the third quarter valued at approximately $3,274,000. Finally, Penserra Capital Management LLC grew its stake 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 purchasing an additional 28,416 shares in the last quarter. Institutional investors 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.