Bloom Energy (NYSE:BE) Shares Up 7.3% Following Analyst Upgrade

Bloom Energy Co. (NYSE:BE)’s stock price rose 7.3% during trading on Wednesday after UBS Group raised their price target on the stock from $21.00 to $33.00. UBS Group currently has a buy rating on the stock. Bloom Energy traded as high as $28.36 and last traded at $28.08. Approximately 1,158,056 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 6,508,571 shares. The stock had previously closed at $26.17.

A number of other analysts also recently weighed in on BE. Morgan Stanley increased their price target on Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Hsbc Global Res raised Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. Susquehanna boosted their price target on Bloom Energy from $13.00 to $16.00 and gave the company a “positive” rating in a research note on Tuesday, November 12th. Truist Financial reduced their price objective 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. Finally, Marathon Capitl upgraded shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.14.

Insider Activity at Bloom Energy

In other Bloom Energy news, 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 transaction, the insider now directly owns 168,561 shares in the company, valued at $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kr Sridhar sold 72,903 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were 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 of the company’s stock, valued at $46,777,216.86. This represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 122,975 shares of company stock valued at $3,045,019. 8.81% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Millburn Ridgefield Corp grew its stake 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 in the last quarter. Xponance Inc. lifted its holdings in Bloom Energy by 7.8% during the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company’s stock worth $154,000 after purchasing an additional 903 shares in the last quarter. Kovitz Investment Group Partners LLC grew its holdings in Bloom Energy by 3.9% during the 3rd 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 in the last quarter. Arizona State Retirement System increased its position in shares of Bloom Energy by 2.7% during the second quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock valued at $696,000 after buying an additional 1,470 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of 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 Price Performance

The business’s 50-day moving average price is $13.21 and its 200 day moving average price is $13.02. The company has a market capitalization of $6.22 billion, a P/E ratio of -48.59 and a beta of 2.71. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09.

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.