Bloom Energy (NYSE:BE) Stock Rating Upgraded by Hsbc Global Res

Bloom Energy (NYSE:BE) was upgraded by research analysts at Hsbc Global Res to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Royal Bank of Canada lifted their price target on Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday. Truist Financial lowered their price target on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th. Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. BTIG Research lifted their price target on Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, HSBC lowered Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target for the company. in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bloom Energy currently has a consensus rating of “Hold” and a consensus target price of $17.55.

Bloom Energy Stock Performance

Shares of BE stock opened at $23.94 on Wednesday. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $25.12. The stock has a market cap of $5.47 billion, a PE ratio of -42.75 and a beta of 2.71. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The company’s fifty day moving average price is $11.64 and its 200-day moving average price is $12.53.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the 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 sale, the insider now directly owns 168,561 shares of the company’s stock, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

Institutional investors have recently added to or reduced their stakes in the stock. Mizuho Markets Americas LLC grew its holdings in shares of 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 purchasing an additional 31,189 shares in the last quarter. Parametrica Management Ltd purchased a new position in shares of Bloom Energy in the third quarter valued at $785,000. International Assets Investment Management LLC grew its holdings in shares of Bloom Energy by 1,490.8% in the third quarter. International Assets Investment Management LLC now owns 185,328 shares of the company’s stock valued at $19,570,000 after purchasing an additional 173,678 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Bloom Energy by 148.8% in the third quarter. Oppenheimer & Co. Inc. now owns 130,418 shares of the company’s stock valued at $1,377,000 after purchasing an additional 78,009 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of 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.

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.