Bloom Energy (NYSE:BE) Downgraded by HSBC to Hold

Bloom Energy (NYSE:BE) was downgraded by stock analysts at HSBC from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. They presently have a $24.50 target price on the stock. HSBC’s price objective would indicate a potential upside of 3.18% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday. Susquehanna upped their price target on Bloom Energy from $13.00 to $16.00 and gave the company a “positive” rating in a research report on Tuesday, November 12th. Jefferies Financial Group cut Bloom Energy from a “buy” rating to a “hold” rating and dropped their target price for the company from $15.00 to $11.00 in a report on Friday, September 6th. UBS Group dropped their price objective on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, Bank of America decreased their target price on shares of Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.55.

Bloom Energy Stock Up 4.1 %

NYSE BE opened at $23.75 on Wednesday. Bloom Energy has a one year low of $8.41 and a one year high of $24.92. The company has a market cap of $5.43 billion, a P/E ratio of -42.40 and a beta of 2.71. The business has a fifty day moving average price of $11.08 and a 200 day moving average price of $12.36. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy 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 transaction, the insider now owns 168,561 shares in the company, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds have recently modified their holdings of the stock. Millburn Ridgefield Corp grew its holdings in shares of 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 buying an additional 528 shares in the last quarter. ORG Partners LLC purchased a new stake in Bloom Energy in the 2nd quarter worth approximately $40,000. Quest Partners LLC boosted its stake in shares of Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after buying an additional 3,475 shares during the period. Gilliland Jeter Wealth Management LLC purchased a new position in shares of Bloom Energy during the 2nd quarter valued at $53,000. Finally, Mather Group LLC. acquired a new position in shares of Bloom Energy in the second quarter worth $66,000. 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.