Bloom Energy Co. (NYSE:BE) Receives Average Rating of “Hold” from Brokerages

Shares of Bloom Energy Co. (NYSE:BE) have earned an average rating of “Hold” from the twenty analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $24.18.

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Jefferies Financial Group lifted their price target on shares of Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Bank of America lowered their price target on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Finally, Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th.

Insider Activity

In other 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 directly owns 171,040 shares in the company, valued at $4,005,756.80. This represents a 0.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in BE. Smartleaf Asset Management LLC grew its holdings 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 purchasing an additional 934 shares during the period. Mainstream Capital Management LLC purchased a new position in shares of Bloom Energy in the 4th quarter valued at $28,000. Jones Financial Companies Lllp lifted its holdings 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 valued at $33,000 after acquiring an additional 812 shares in the last quarter. Quarry LP purchased a new stake in Bloom Energy during the 4th quarter worth $35,000. Finally, Avior Wealth Management LLC acquired a new position in shares of Bloom Energy during the fourth quarter worth about $40,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Price Performance

BE stock opened at $22.02 on Wednesday. The business’s 50-day moving average is $24.10 and its two-hundred day moving average is $17.88. The firm has a market capitalization of $5.03 billion, a P/E ratio of -39.32 and a beta of 3.06. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $29.83. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

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.