Bloom Energy (NYSE:BE) Stock Price Up 7.8% – Still a Buy?

Bloom Energy Co. (NYSE:BE)’s stock price rose 7.8% during trading on Wednesday . The company traded as high as $24.95 and last traded at $24.92. Approximately 1,302,404 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 7,107,338 shares. The stock had previously closed at $23.11.

Analyst Upgrades and Downgrades

BE has been the subject of a number of research reports. Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Piper Sandler boosted their price target on shares of Bloom Energy from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. UBS Group boosted their price target on shares of Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Bank of America dropped their price target on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Finally, BMO Capital Markets boosted 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 analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $23.72.

Bloom Energy Stock Performance

The stock’s fifty day moving average is $24.38 and its two-hundred day moving average is $16.73. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of -44.12 and a beta of 3.06. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Insiders Place Their Bets

In related news, 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 sale, the chief executive officer now directly owns 1,869,593 shares in the company, valued at $46,777,216.86. This trade represents a 3.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction dated Thursday, January 16th. The stock was 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. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 122,528 shares of company stock valued at $3,061,501 in the last ninety days. Corporate insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Millburn Ridgefield Corp boosted its stake in Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after purchasing an additional 528 shares in the last quarter. Mainstream Capital Management LLC acquired a new position in Bloom Energy in the fourth quarter worth $28,000. Smartleaf Asset Management LLC boosted its stake in Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after purchasing an additional 934 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after purchasing an additional 812 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Bloom Energy in the third quarter worth $34,000. 77.04% of the stock is owned by institutional investors.

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.