Bloom Energy (NYSE:BE) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of Bloom Energy (NYSE:BE) to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

A number of other equities analysts also recently commented on the stock. Piper Sandler upgraded shares of Bloom Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $10.00 to $20.00 in a research note on Friday, November 15th. Jefferies Financial Group downgraded Bloom Energy from a “buy” rating to a “hold” rating and dropped their price objective for the company from $15.00 to $11.00 in a report on Friday, September 6th. BMO Capital Markets raised their target price on Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a research report on Friday, November 15th. HSBC downgraded Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target for the company. in a report on Wednesday. Finally, BTIG Research boosted their price objective on shares of Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Bloom Energy presently has an average rating of “Hold” and a consensus price target of $17.55.

Bloom Energy Stock Down 3.5 %

Shares of Bloom Energy stock opened at $23.94 on Wednesday. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $25.12. The company has a market capitalization of $5.47 billion, a P/E ratio of -42.75 and a beta of 2.71. The company has a 50 day moving average of $11.64 and a 200 day moving average of $12.53.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction 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 $4,139,858.16. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 8.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in BE. Millburn Ridgefield Corp boosted its position in shares of Bloom Energy by 29.2% during 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 in the last quarter. ORG Partners LLC acquired a new position in Bloom Energy during the second quarter worth about $40,000. Quest Partners LLC increased its holdings in Bloom Energy by 2,780.0% in the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after buying an additional 3,475 shares in the last quarter. Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Bloom Energy during the 2nd quarter valued at approximately $53,000. Finally, Mather Group LLC. purchased a new stake in shares of Bloom Energy during the 2nd quarter worth approximately $66,000. 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.