Bloom Energy (NYSE:BE) Shares Gap Up Following Analyst Upgrade

Bloom Energy Co. (NYSE:BE)’s share price gapped up prior to trading on Thursday after Morgan Stanley raised their price target on the stock from $28.00 to $35.00. The stock had previously closed at $24.31, but opened at $25.20. Morgan Stanley currently has an overweight rating on the stock. Bloom Energy shares last traded at $25.62, with a volume of 1,402,072 shares changing hands.

A number of other equities research analysts have also recently issued reports on the stock. Susquehanna boosted their target price on shares of Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a research report on Friday, December 6th. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Robert W. Baird raised their price objective on Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Jefferies Financial Group raised their price objective on Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Finally, BTIG Research increased their target price on Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $25.06.

Insider Activity at Bloom Energy

In other news, insider Satish Chitoori sold 1,020 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the transaction, the insider now owns 178,656 shares of the company’s stock, valued at $4,482,479.04. This represents a 0.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value 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 $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.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. SPX Gestao de Recursos Ltda bought a new stake in shares of Bloom Energy in the 4th quarter worth $4,442,000. Duff & Phelps Investment Management Co. purchased a new position in Bloom Energy during the third quarter worth about $517,000. Mirae Asset Global Investments Co. Ltd. grew its position in Bloom Energy by 184.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company’s stock worth $9,209,000 after purchasing an additional 262,247 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in Bloom Energy in the 3rd quarter valued at about $3,274,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Bloom Energy by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company’s stock worth $36,737,000 after buying an additional 10,265 shares in the last quarter. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Price Performance

The stock has a market cap of $6.00 billion, a PE ratio of -46.48 and a beta of 3.30. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The business has a 50 day moving average price of $24.08 and a two-hundred day moving average price of $19.18.

Bloom Energy Company Profile

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.