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

Redburn Atlantic downgraded shares of Bloom Energy (NYSE:BE) from a neutral rating to a sell rating in a research report sent to investors on Wednesday, MarketBeat.com reports. Redburn Atlantic currently has $10.00 price target on the stock, down from their prior price target of $14.50.

A number of other equities research analysts have also recently commented on BE. Roth Mkm assumed coverage on Bloom Energy in a research report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 target price on the stock. Bank of America cut their price objective on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research report on Tuesday, January 28th. Robert W. Baird lifted their price target on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Mizuho assumed coverage on shares of Bloom Energy in a research report on Tuesday, March 18th. They set a “neutral” rating and a $28.00 price objective for the company. Finally, Morgan Stanley boosted their target price on shares of Bloom Energy from $28.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.29.

Bloom Energy Stock Performance

BE traded down $0.74 during midday trading on Wednesday, hitting $17.13. 4,983,688 shares of the company were exchanged, compared to its average volume of 6,842,399. 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 market capitalization of $3.95 billion, a price-to-earnings ratio of -30.59 and a beta of 3.27. The company’s 50 day simple moving average is $22.80 and its 200 day simple moving average is $20.27. Bloom Energy has a 1-year low of $9.02 and a 1-year high of $29.83.

Insider Activity at Bloom Energy

In other news, insider Satish Chitoori sold 1,020 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. This represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the transaction, the insider now directly owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This trade represents a 0.95 % 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

Large investors have recently modified their holdings of the business. Mainstream Capital Management LLC acquired a new stake in shares of Bloom Energy in the 4th quarter worth approximately $28,000. Smartleaf Asset Management LLC boosted its stake in Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after purchasing an additional 934 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after buying an additional 812 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Bloom Energy in the third quarter valued at $34,000. Finally, Quarry LP bought a new position in Bloom Energy during the fourth quarter valued at about $35,000. 77.04% of the stock is owned by institutional investors and hedge funds.

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.