Bloom Energy (NYSE:BE) Trading 7.8% Higher – What’s Next?

Bloom Energy Co. (NYSE:BE)’s share price shot up 7.8% on Wednesday . The company traded as high as $24.95 and last traded at $24.92. 1,302,404 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 7,107,338 shares. The stock had previously closed at $23.11.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BE shares. UBS Group boosted their price objective on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Roth Capital upgraded Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. BMO Capital Markets raised their price objective on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research note on Friday, November 15th. Hsbc Global Res raised Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. Finally, Bank of America decreased their price target on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $23.13.

Bloom Energy Stock Performance

The company’s 50-day moving average price is $24.49 and its two-hundred day moving average price is $16.62. The company has a market cap of $5.63 billion, a P/E ratio of -43.95 and a beta of 3.06. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Insider Transactions at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 72,903 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the transaction, the chief executive officer now directly owns 1,869,593 shares in the company, valued at $46,777,216.86. This trade represents a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the sale, the insider now owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 122,528 shares of company stock valued at $3,061,501. 3.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Avior Wealth Management LLC bought a new position in shares of Bloom Energy during the 4th quarter worth about $40,000. Millburn Ridgefield Corp increased its stake in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after acquiring an additional 528 shares during the period. GAMMA Investing LLC increased its stake in Bloom Energy by 26.8% during the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after acquiring an additional 569 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Bloom Energy in the 3rd quarter valued at approximately $34,000. Finally, IFP Advisors Inc lifted its position in shares of Bloom Energy by 130.2% in the 4th quarter. IFP Advisors Inc now owns 3,914 shares of the company’s stock worth $87,000 after acquiring an additional 2,214 shares during the period. 77.04% of the stock is owned by institutional investors and hedge funds.

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.