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

Bloom Energy Co. (NYSE:BE) has been assigned an average recommendation of “Hold” from the twenty research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $24.18.

A number of equities analysts have issued reports on the stock. Robert W. Baird lifted their target price on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. BTIG Research lifted their price objective on Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Roth Mkm initiated coverage on Bloom Energy in a report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 target price on the stock. Roth Capital raised Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. Finally, Morgan Stanley increased their price objective on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, November 18th.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the transaction, the insider now 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 SEC, which is available at this link. Company insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

Several large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Bloom Energy in the fourth quarter worth about $93,951,000. Fuller & Thaler Asset Management Inc. purchased a new position in Bloom Energy in the 4th quarter worth approximately $61,968,000. Elemental Capital Partners LLC acquired a new stake in Bloom Energy in the fourth quarter valued at approximately $33,612,000. Trivest Advisors Ltd purchased a new stake in shares of Bloom Energy during the fourth quarter valued at approximately $30,539,000. Finally, Voloridge Investment Management LLC raised its stake in shares of Bloom Energy by 323.6% during the fourth quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company’s stock valued at $31,992,000 after purchasing an additional 1,100,352 shares during the period. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Trading Down 7.2 %

NYSE:BE opened at $24.11 on Wednesday. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $29.83. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The stock has a fifty day simple moving average of $24.22 and a 200-day simple moving average of $17.72. The company has a market capitalization of $5.51 billion, a PE ratio of -43.05 and a beta of 3.06.

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.