Bloom Energy Co. (NYSE:BE) Given Average Recommendation of “Hold” by Brokerages

Bloom Energy Co. (NYSE:BE) has earned an average rating of “Hold” from the twenty ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $24.18.

BE has been the subject of several research analyst reports. BMO Capital Markets boosted their price objective on shares of Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a research report on Friday, November 15th. Bank of America dropped their price objective on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research report on Tuesday, January 28th. Robert W. Baird boosted their price objective on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Hsbc Global Res upgraded shares of Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. Finally, Marathon Capitl upgraded shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th.

Insider Activity at Bloom Energy

In related news, CEO Kr Sridhar sold 46,697 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total value of $1,167,425.00. Following the completion of the transaction, the chief executive officer now directly owns 1,822,496 shares of the company’s stock, valued at approximately $45,562,400. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the insider now directly owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BE. Millburn Ridgefield Corp boosted 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 worth $25,000 after purchasing an additional 528 shares during the period. Mainstream Capital Management LLC acquired a new position in shares of Bloom Energy during the 4th quarter worth about $28,000. Smartleaf Asset Management LLC boosted its stake in shares of Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after buying an additional 934 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after buying an additional 812 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Bloom Energy during the 3rd quarter worth about $34,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Stock Performance

BE stock opened at $26.02 on Wednesday. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The company has a 50 day moving average price of $24.12 and a 200 day moving average price of $17.30. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $29.83. The stock has a market capitalization of $5.95 billion, a PE ratio of -46.46 and a beta of 3.06.

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.