Bloom Energy (NYSE:BE) Stock Rating Upgraded by Roth Capital

Bloom Energy (NYSE:BE) was upgraded by equities researchers at Roth Capital to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Susquehanna lifted their price objective on Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a report on Friday, December 6th. BTIG Research lifted their price target on shares of Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Robert W. Baird cut their price target 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. Morgan Stanley raised their price objective on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Finally, Bank of America boosted their target price on shares of Bloom Energy from $7.00 to $20.00 and gave the stock an “underperform” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.03.

Bloom Energy Stock Up 0.4 %

Shares of Bloom Energy stock opened at $23.56 on Tuesday. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $28.70. The business has a 50-day moving average of $16.32 and a 200-day moving average of $13.88. The company has a market capitalization of $5.39 billion, a PE ratio of -42.07 and a beta of 3.04.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the firm’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 value of $31,657.84. Following the sale, the insider now owns 168,561 shares in the company, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kr Sridhar sold 46,697 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total value of $1,167,425.00. Following the completion of the transaction, the chief executive officer now directly owns 1,822,496 shares of the company’s stock, valued at $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 122,975 shares of company stock worth $3,045,019 in the last 90 days. 8.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Electron Capital Partners LLC boosted its position in shares of Bloom Energy by 131.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after purchasing an additional 1,790,733 shares in the last quarter. JAT Capital Mgmt LP boosted its position in shares of Bloom Energy by 50.0% in the 3rd 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. DigitalBridge Group Inc. increased its stake in Bloom Energy by 66.3% in the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after purchasing an additional 462,581 shares in the last quarter. Pinnacle Associates Ltd. increased its position in shares of Bloom Energy by 48.6% in the second quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock worth $10,644,000 after acquiring an additional 284,298 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Bloom Energy by 64.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 830,405 shares of the company’s stock worth $11,017,000 after purchasing an additional 325,814 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

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.