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

Bloom Energy Co. (NYSE:BE) has been assigned a consensus recommendation of “Hold” from the twenty-one research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $25.06.

BE has been the subject of a number of analyst reports. BMO Capital Markets restated a “market perform” rating on shares of Bloom Energy in a research report on Friday, February 28th. Piper Sandler decreased their target price on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Mizuho initiated coverage on shares of Bloom Energy in a research report on Tuesday, March 18th. They issued a “neutral” rating and a $28.00 price target for the company. Morgan Stanley increased their price objective on shares of Bloom Energy from $28.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Roth Mkm began coverage on shares of Bloom Energy in a research note on Wednesday, December 11th. They set a “neutral” rating and a $25.00 target price on the stock.

Bloom Energy Trading Down 5.9 %

NYSE:BE opened at $23.90 on Friday. Bloom Energy has a one year low of $9.02 and a one year high of $29.83. The business has a fifty day moving average price of $24.10 and a 200-day moving average price of $19.36. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of -42.68 and a beta of 3.30. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Insiders Place Their Bets

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction that occurred 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 directly owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 178,656 shares in the company, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is owned by insiders.

Institutional Trading of Bloom Energy

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Bloom Energy by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company’s stock valued at $427,194,000 after buying an additional 356,317 shares in the last quarter. Norges Bank bought a new stake in shares of Bloom Energy during the fourth quarter valued at approximately $93,951,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Bloom Energy in the fourth quarter valued at approximately $61,968,000. JAT Capital Mgmt LP grew its stake in Bloom Energy by 50.0% in the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after purchasing an additional 733,363 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Bloom Energy by 7.3% during the 4th quarter. Legal & General Group Plc now owns 2,133,318 shares of the company’s stock worth $47,381,000 after purchasing an additional 144,616 shares during the period. 77.04% of the stock is owned by hedge funds and other institutional investors.

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.