Bloom Energy (NYSE:BE) Rating Increased to Strong-Buy at Hsbc Global Res

Bloom Energy (NYSE:BE) was upgraded by equities researchers at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other brokerages also recently weighed in on BE. HSBC raised shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Tuesday. Truist Financial boosted their target price on shares of Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Bank of America cut their target price on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped 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, BTIG Research increased their price objective 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Bloom Energy currently has an average rating of “Moderate Buy” and an average price target of $24.29.

Bloom Energy Trading Up 5.3 %

Shares of BE stock opened at $17.92 on Tuesday. The firm has a 50-day moving average price of $22.80 and a 200 day moving average price of $20.27. Bloom Energy has a twelve month low of $9.02 and a twelve month high of $29.83. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of -32.00 and a beta of 3.27. 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 Bloom Energy news, insider Satish Chitoori sold 1,020 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares of the company’s stock, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were 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 directly owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of Bloom Energy

A number of hedge funds have recently made changes to their positions in BE. Kovitz Investment Group Partners LLC grew 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 worth $374,000 after buying an additional 1,349 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Bloom Energy during the third quarter worth approximately $34,000. Peapack Gladstone Financial Corp grew its position in shares of Bloom Energy by 4.4% during the third quarter. Peapack Gladstone Financial Corp now owns 271,924 shares of the company’s stock worth $2,871,000 after buying an additional 11,525 shares in the last quarter. Franklin Resources Inc. grew its position in shares of 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 in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of 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 buying an additional 3,824 shares in the last quarter. Institutional investors and hedge funds 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.