Bloom Energy (NYSE:BE) Stock Price Up 5.2% Following Analyst Upgrade

Bloom Energy Co. (NYSE:BE) shares rose 5.2% during trading on Thursday 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 $26.86 and last traded at $26.85. Approximately 2,109,163 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 5,177,137 shares. The stock had previously closed at $25.53.

BE has been the topic of a number of other reports. Morgan Stanley boosted their price target on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Robert W. Baird boosted their target price on Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. BMO Capital Markets raised their price target on shares of Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a research note on Friday, November 15th. Roth Mkm started coverage on shares of Bloom Energy in a research report on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 price objective on the stock. Finally, BTIG Research increased their target price on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.08.

Insider Buying and Selling at Bloom Energy

In related news, CEO Kr Sridhar sold 72,903 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the transaction, the chief executive officer now directly owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. This represents a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy 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 completion of the sale, the insider now owns 168,561 shares of the company’s stock, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 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 Inflows and Outflows

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

Bloom Energy Stock Up 5.7 %

The firm has a 50 day simple moving average of $24.31 and a two-hundred day simple moving average of $15.96. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The stock has a market capitalization of $6.17 billion, a P/E ratio of -48.18 and a beta of 3.06.

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.