Bloom Energy (NYSE:BE) Sets New 1-Year High Following Analyst Upgrade

Bloom Energy Co. (NYSE:BE)’s stock price reached a new 52-week high during trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $14.00 to $16.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Bloom Energy traded as high as $28.99 and last traded at $28.82, with a volume of 2260327 shares traded. The stock had previously closed at $27.67.

A number of other research firms have also recently commented on BE. Truist Financial lifted their target price on Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Roth Mkm started coverage on Bloom Energy in a report on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 price objective on the stock. Roth Capital raised Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. Robert W. Baird boosted their price target on Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Finally, BTIG Research upped their price objective on Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Bloom Energy presently has an average rating of “Hold” and a consensus target price of $23.08.

Insider Buying and Selling at Bloom Energy

In related news, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total value of $1,824,033.06. Following the completion of the sale, the chief executive officer now directly owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. This trade represents a 3.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the sale, the insider now owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,528 shares of company stock worth $3,061,501 over the last ninety days. Insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

Several hedge funds have recently modified their holdings of BE. Mizuho Markets Americas LLC raised its stake in Bloom Energy by 8.2% in the third quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock valued at $4,335,000 after buying an additional 31,189 shares during the last quarter. Duff & Phelps Investment Management Co. purchased a new position in Bloom Energy during the third quarter worth approximately $517,000. Parametrica Management Ltd purchased a new position in Bloom Energy during the third quarter worth approximately $785,000. Edgestream Partners L.P. acquired a new stake in Bloom Energy during the third quarter worth $3,274,000. Finally, Penserra Capital Management LLC grew its stake in shares of Bloom Energy by 20.7% in the third quarter. Penserra Capital Management LLC now owns 165,660 shares of the company’s stock valued at $1,749,000 after buying an additional 28,416 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Price Performance

The firm has a market capitalization of $6.61 billion, a price-to-earnings ratio of -51.66 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. The stock has a 50 day moving average price of $24.31 and a two-hundred day moving average price of $15.96.

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.