Bloom Energy (NYSE:BE) Downgraded to “Sell” Rating by Redburn Atlantic

Bloom Energy (NYSE:BE) was downgraded by stock analysts at Redburn Atlantic from a “neutral” rating to a “sell” rating in a report issued on Wednesday, Marketbeat.com reports. They presently have a $10.00 target price on the stock, down from their previous target price of $14.50. Redburn Atlantic’s price target would suggest a potential downside of 40.62% from the company’s previous close.

Several other brokerages have also recently commented on BE. Roth Capital raised Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Mizuho began coverage on Bloom Energy in a report on Tuesday, March 18th. They issued a “neutral” rating and a $28.00 price objective for the company. Bank of America decreased their target price on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, Robert W. Baird lifted 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. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.29.

Bloom Energy Stock Down 5.8 %

NYSE:BE opened at $16.84 on Wednesday. The stock has a 50-day simple moving average of $22.67 and a 200 day simple moving average of $20.32. Bloom Energy has a 52-week low of $9.02 and a 52-week high of $29.83. The company has a market cap of $3.88 billion, a PE ratio of -30.07 and a beta of 3.27. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Insider Activity at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the sale, the insider now owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the sale, the insider now directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Chesley Taft & Associates LLC raised its stake in Bloom Energy by 27.7% during the first quarter. Chesley Taft & Associates LLC now owns 12,956 shares of the company’s stock valued at $255,000 after buying an additional 2,807 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Bloom Energy by 2.8% during the first quarter. Rhumbline Advisers now owns 298,283 shares of the company’s stock valued at $5,864,000 after acquiring an additional 8,212 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Bloom Energy by 241.2% in the 1st quarter. Parallel Advisors LLC now owns 7,626 shares of the company’s stock worth $150,000 after purchasing an additional 5,391 shares during the last quarter. GAMMA Investing LLC boosted its stake in Bloom Energy by 2,149.6% in the 1st quarter. GAMMA Investing LLC now owns 60,513 shares of the company’s stock worth $1,190,000 after purchasing an additional 57,823 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Bloom Energy by 306.3% during the 4th quarter. Wellington Management Group LLP now owns 1,383,897 shares of the company’s stock valued at $30,736,000 after purchasing an additional 1,043,326 shares during the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

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.