Bloom Energy Co. (NYSE:BE) Receives Consensus Rating of “Hold” from Brokerages

Shares of Bloom Energy Co. (NYSE:BE) have been given an average recommendation of “Hold” by the twenty-one research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $20.81.

BE has been the topic of a number of analyst reports. Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. BTIG Research upped their price target on Bloom Energy from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 15th. UBS Group raised their price objective on shares of Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley upped their target price on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Finally, Bank of America raised their price target on shares of Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a report on Monday.

Bloom Energy Stock Down 11.7 %

Bloom Energy stock opened at $23.47 on Friday. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of -41.91 and a beta of 3.04. The firm has a 50 day simple moving average of $16.06 and a 200 day simple moving average of $13.81. Bloom Energy has a 1-year low of $8.41 and a 1-year 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.

Insider Activity at Bloom Energy

In related news, CEO Kr Sridhar sold 72,903 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the sale, the insider now owns 168,561 shares of the company’s stock, valued at $4,139,858.16. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,975 shares of company stock valued at $3,045,019. Insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds have recently modified their holdings of BE. Millburn Ridgefield Corp raised its holdings in shares of Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after acquiring an additional 528 shares in the last quarter. Xponance Inc. boosted its stake in shares of Bloom Energy by 7.8% during the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company’s stock valued at $154,000 after purchasing an additional 903 shares in the last quarter. Kovitz Investment Group Partners LLC increased its position in shares of Bloom Energy by 3.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock valued at $374,000 after buying an additional 1,349 shares during the period. Arizona State Retirement System raised its stake in Bloom Energy by 2.7% in the second quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock worth $696,000 after buying an additional 1,470 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Bloom Energy in the third quarter worth about $34,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

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.