Bloom Energy (NYSE:BE) Stock Price Up 7.8% – Time to Buy?

Shares of Bloom Energy Co. (NYSE:BEGet Free Report) rose 7.8% during trading on Wednesday . The stock traded as high as $24.95 and last traded at $24.92. Approximately 1,302,404 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 7,107,338 shares. The stock had previously closed at $23.11.

Analyst Ratings Changes

Several research firms have issued reports on BE. Roth Capital upgraded Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. Susquehanna lifted their price target on shares of Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a report on Friday, December 6th. Jefferies Financial Group upped their price objective on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, November 22nd. UBS Group lifted their target price on shares of Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.13.

Read Our Latest Stock Report on Bloom Energy

Bloom Energy Stock Up 6.5 %

The business’s fifty day simple moving average is $24.49 and its 200 day simple moving average is $16.62. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of -43.95 and a beta of 3.06. 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 Activity at Bloom Energy

In related news, CEO Kr Sridhar sold 72,903 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the sale, the chief executive officer now owns 1,869,593 shares of the company’s stock, valued at approximately $46,777,216.86. This trade represents a 3.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the insider now directly owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 122,528 shares of company stock worth $3,061,501. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Mizuho Markets Americas LLC raised its position in Bloom Energy by 8.2% in the 3rd quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock valued at $4,335,000 after buying an additional 31,189 shares during the last quarter. Duff & Phelps Investment Management Co. acquired a new stake in shares of Bloom Energy in the third quarter valued at approximately $517,000. Parametrica Management Ltd bought a new stake in shares of Bloom Energy in the third quarter worth $785,000. Edgestream Partners L.P. acquired a new position in Bloom Energy during the third quarter worth $3,274,000. Finally, Penserra Capital Management LLC grew its position in Bloom Energy by 20.7% in the third quarter. Penserra Capital Management LLC now owns 165,660 shares of the company’s stock valued at $1,749,000 after purchasing an additional 28,416 shares in the last quarter. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Company Profile

(Get Free Report)

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.

Further Reading

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