Bloom Energy Co. (NYSE:BE) Short Interest Down 7.0% in November

Bloom Energy Co. (NYSE:BE) was the recipient of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 42,620,000 shares, a decrease of 7.0% from the November 15th total of 45,830,000 shares. Based on an average daily volume of 8,170,000 shares, the short-interest ratio is currently 5.2 days.

Insider Transactions at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 46,697 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the transaction, the chief executive officer now directly owns 1,822,496 shares in the company, valued at $45,562,400. This represents a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the transaction, the insider now owns 168,561 shares in the company, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 122,975 shares of company stock worth $3,045,019. Insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BE. Millburn Ridgefield Corp raised its holdings in Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after buying an additional 528 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Bloom Energy in the 3rd quarter valued at about $34,000. Quest Partners LLC raised its holdings in Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after buying an additional 3,475 shares during the period. Gilliland Jeter Wealth Management LLC purchased a new stake in Bloom Energy in the 2nd quarter valued at about $53,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in Bloom Energy in the 3rd quarter valued at about $74,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Analysts Set New Price Targets

BE has been the subject of several research analyst reports. Jefferies Financial Group increased their price objective on shares of Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Susquehanna raised their price target on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research report on Friday, December 6th. Bank of America raised their price target on shares of Bloom Energy from $7.00 to $20.00 and gave the stock an “underperform” rating in a research report on Monday, December 9th. Roth Capital raised shares of Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Finally, Truist Financial reduced their price target on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Bloom Energy currently has a consensus rating of “Hold” and an average target price of $22.45.

Bloom Energy Price Performance

BE traded up $0.56 on Monday, hitting $26.15. 6,895,144 shares of the company’s stock were exchanged, compared to its average volume of 6,588,198. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $28.70. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The firm has a 50-day moving average price of $16.89 and a 200-day moving average price of $13.99. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of -46.70 and a beta of 3.04.

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.