Bloom Energy (NYSE:BE) Rating Increased to Buy at HSBC

HSBC upgraded shares of Bloom Energy (NYSE:BE) from a hold rating to a buy rating in a research note released on Tuesday morning,Benzinga reports. They currently have $25.00 target price on the stock.

A number of other brokerages have also commented on BE. BTIG Research boosted their price objective on Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Royal Bank of Canada reiterated an “outperform” rating on shares of Bloom Energy in a research note on Tuesday, April 1st. Mizuho started coverage on Bloom Energy in a research note on Tuesday, March 18th. They set a “neutral” rating and a $28.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on shares of Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Bloom Energy in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and a consensus target price of $25.08.

Bloom Energy Stock Down 1.5 %

Shares of NYSE BE opened at $16.98 on Tuesday. The firm has a market cap of $3.91 billion, a PE ratio of -30.32 and a beta of 3.27. The company’s fifty day simple moving average is $23.03 and its 200 day simple moving average is $20.24. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy has a 12-month low of $9.02 and a 12-month high of $29.83.

Insider Buying and Selling

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the sale, the insider now owns 171,040 shares in the company, valued at $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the transaction, the insider now owns 178,656 shares of the company’s stock, valued at $4,482,479.04. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BE. Mainstream Capital Management LLC purchased a new position in Bloom Energy in the fourth quarter valued at $28,000. Smartleaf Asset Management LLC raised its stake in Bloom Energy by 291.0% in 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 during the last quarter. Jones Financial Companies Lllp raised its position in shares of Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after buying an additional 812 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Bloom Energy in the 3rd quarter worth approximately $34,000. Finally, Quarry LP purchased a new position in Bloom Energy during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

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.