Traders Buy Large Volume of Call Options on Bloom Energy (NYSE:BE)

Bloom Energy Co. (NYSE:BE) was the target of unusually large options trading activity on Wednesday. Stock traders bought 24,301 call options on the company. This represents an increase of 204% compared to the typical daily volume of 7,994 call options.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Marathon Capitl upgraded shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday. Robert W. Baird lowered their price objective on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Jefferies Financial Group cut shares of Bloom Energy from a “buy” rating to a “hold” rating and decreased their target price for the company from $15.00 to $11.00 in a research note on Friday, September 6th. Bank of America reduced their target price on shares of Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a research report on Thursday, November 7th. Finally, Truist Financial reduced their target price on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Bloom Energy has a consensus rating of “Moderate Buy” and an average target price of $15.08.

Bloom Energy Stock Performance

Shares of BE stock traded up $0.06 during mid-day trading on Wednesday, hitting $13.60. 6,125,289 shares of the stock were exchanged, compared to its average volume of 5,998,095. The stock’s fifty day simple moving average is $10.55 and its two-hundred day simple moving average is $12.19. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of -24.28 and a beta of 2.71. Bloom Energy has a 12-month low of $8.41 and a 12-month high of $18.14. The company has a debt-to-equity ratio of 3.09, a quick ratio of 3.33 and a current ratio of 3.36.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Penserra Capital Management LLC boosted its position in Bloom Energy by 20.7% in the 3rd quarter. Penserra Capital Management LLC now owns 165,660 shares of the company’s stock valued at $1,749,000 after buying an additional 28,416 shares during the last quarter. John G Ullman & Associates Inc. increased its stake in shares of Bloom Energy by 45.3% in the third quarter. John G Ullman & Associates Inc. now owns 268,000 shares of the company’s stock valued at $2,830,000 after purchasing an additional 83,600 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Bloom Energy in the third quarter valued at approximately $698,000. Intech Investment Management LLC acquired a new stake in shares of Bloom Energy in the third quarter valued at approximately $600,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Bloom Energy by 45.7% during the third quarter. Advisors Asset Management Inc. now owns 54,140 shares of the company’s stock valued at $572,000 after acquiring an additional 16,993 shares during the period. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.