Bloom Energy (NYSE:BE) Shares Up 7.5% – Still a Buy?

Shares of Bloom Energy Co. (NYSE:BE) rose 7.5% on Friday . The company traded as high as $25.30 and last traded at $25.13. Approximately 2,027,901 shares traded hands during trading, a decline of 33% from the average daily volume of 3,015,760 shares. The stock had previously closed at $23.37.

Analyst Upgrades and Downgrades

BE has been the subject of a number of recent analyst reports. BMO Capital Markets raised their price target on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a report on Friday, November 15th. Hsbc Global Res raised Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. Piper Sandler lifted their target price on Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Morgan Stanley lifted their target price on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, Susquehanna boosted their price target on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Bloom Energy currently has a consensus rating of “Hold” and an average target price of $22.45.

Bloom Energy Stock Performance

The stock’s 50 day moving average is $20.70 and its two-hundred day moving average is $14.82. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of -45.03 and a beta of 3.04. 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 Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy 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 sale, the insider now directly owns 168,561 shares in the company, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kr Sridhar sold 46,697 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total value of $1,167,425.00. Following the sale, the chief executive officer now owns 1,822,496 shares in the company, valued at approximately $45,562,400. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 122,975 shares of company stock worth $3,045,019. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of Bloom Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in BE. GAMMA Investing LLC increased its stake in shares of Bloom Energy by 26.8% during the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after purchasing an additional 569 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in Bloom Energy by 21.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 21,404 shares of the company’s stock worth $226,000 after purchasing an additional 3,824 shares during the period. Franklin Resources Inc. increased its position in Bloom Energy by 62.4% during the third quarter. Franklin Resources Inc. now owns 125,598 shares of the company’s stock worth $1,314,000 after buying an additional 48,258 shares during the last quarter. Peapack Gladstone Financial Corp raised its stake in Bloom Energy by 4.4% in the third quarter. Peapack Gladstone Financial Corp now owns 271,924 shares of the company’s stock valued at $2,871,000 after buying an additional 11,525 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Bloom Energy during the 3rd quarter worth approximately $34,000. 77.04% of the stock is owned by institutional investors.

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.