Bloom Energy (NYSE:BE) Sees Strong Trading Volume on Analyst Upgrade

Bloom Energy Co. (NYSE:BE) shares saw an uptick in trading volume on Monday after Royal Bank of Canada raised their price target on the stock from $15.00 to $28.00. Royal Bank of Canada currently has an outperform rating on the stock. 6,819,066 shares traded hands during trading, an increase of 9% from the previous session’s volume of 6,247,839 shares.The stock last traded at $23.17 and had previously closed at $21.14.

A number of other research analysts have also commented on the stock. Marathon Capitl upgraded shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Susquehanna upped their price target on shares of Bloom Energy from $13.00 to $16.00 and gave the company a “positive” rating in a research note on Tuesday, November 12th. Bank of America decreased their price target on shares of Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. Jefferies Financial Group lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and decreased their price target for the company from $15.00 to $11.00 in a research note on Friday, September 6th. Finally, Morgan Stanley upped their price target on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.17.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds have recently bought and sold shares of the company. Electron Capital Partners LLC boosted its stake in Bloom Energy by 131.5% in the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after acquiring an additional 1,790,733 shares during the last quarter. JAT Capital Mgmt LP raised its position in shares of Bloom Energy by 50.0% in the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after purchasing an additional 733,363 shares during the period. Artemis Investment Management LLP bought a new stake in Bloom Energy during the 2nd quarter worth approximately $7,502,000. DigitalBridge Group Inc. increased its holdings in Bloom Energy by 66.3% during the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after acquiring an additional 462,581 shares during the period. Finally, Pier Capital LLC bought a new stake in Bloom Energy during the 2nd quarter worth approximately $5,602,000. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Up 9.8 %

The stock’s fifty day moving average is $10.82 and its two-hundred day moving average is $12.28. The company has a current ratio of 3.36, a quick ratio of 3.33 and a debt-to-equity ratio of 3.09. The firm has a market cap of $5.31 billion, a P/E ratio of -39.43 and a beta of 2.71.

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.