Bloom Energy (NYSE:BE) Cut to “Hold” at HSBC

HSBC downgraded shares of Bloom Energy (NYSE:BE) from a buy rating to a hold rating in a research report report published on Wednesday morning, MarketBeat reports. HSBC currently has $24.50 price objective on the stock.

Several other brokerages have also recently weighed in on BE. Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Susquehanna lifted their price target on shares of Bloom Energy from $13.00 to $16.00 and gave the company a “positive” rating in a research report on Tuesday, November 12th. Bank of America lowered their price objective on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a research report on Thursday, November 7th. Jefferies Financial Group lowered 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, BMO Capital Markets boosted their price objective on shares of Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.55.

Bloom Energy Price Performance

NYSE:BE opened at $24.79 on Wednesday. Bloom Energy has a one year low of $8.41 and a one year high of $25.12. The stock has a market cap of $5.67 billion, a PE ratio of -43.09 and a beta of 2.71. 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 stock has a 50 day moving average price of $11.36 and a 200 day moving average price of $12.45.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction that occurred on 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 owns 168,561 shares in the company, valued at $4,139,858.16. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Several institutional investors have recently modified their holdings of BE. Mizuho Markets Americas LLC increased its holdings in Bloom Energy by 8.2% in the third quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock valued at $4,335,000 after buying an additional 31,189 shares during the last quarter. Parametrica Management Ltd purchased a new position in shares of Bloom Energy in the 3rd quarter valued at about $785,000. International Assets Investment Management LLC raised its position in shares of Bloom Energy by 1,490.8% during the 3rd quarter. International Assets Investment Management LLC now owns 185,328 shares of the company’s stock worth $19,570,000 after acquiring an additional 173,678 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in Bloom Energy by 148.8% during the third quarter. Oppenheimer & Co. Inc. now owns 130,418 shares of the company’s stock worth $1,377,000 after purchasing an additional 78,009 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Bloom Energy by 13.1% in the third quarter. Van ECK Associates Corp now owns 661,932 shares of the company’s stock valued at $6,990,000 after purchasing an additional 76,536 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

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.