Bloom Energy Co. (NYSE:BE) Short Interest Update

Bloom Energy Co. (NYSE:BE) was the recipient of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 42,620,000 shares, a decrease of 7.0% from the November 15th total of 45,830,000 shares. Based on an average daily volume of 8,170,000 shares, the short-interest ratio is currently 5.2 days.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BE. Roth Mkm started coverage on shares of Bloom Energy in a research note on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price target for the company. BMO Capital Markets boosted their price target 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. Jefferies Financial Group boosted their price target on Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. BTIG Research lifted their price objective on Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday. Finally, Truist Financial lowered their target price on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $22.45.

Bloom Energy Stock Down 5.3 %

Shares of NYSE BE opened at $24.77 on Wednesday. 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 firm has a market capitalization of $5.66 billion, a PE ratio of -44.22 and a beta of 3.04. The firm’s 50-day moving average is $17.21 and its 200-day moving average is $14.06. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $28.70.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 168,561 shares in the company, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 of the company’s stock, valued at $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 122,975 shares of company stock valued at $3,045,019 in the last ninety days. Company insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of BE. B. Riley Wealth Advisors Inc. boosted its holdings in Bloom Energy by 21.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 21,404 shares of the company’s stock worth $226,000 after buying an additional 3,824 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Bloom Energy by 62.4% in the 3rd quarter. Franklin Resources Inc. now owns 125,598 shares of the company’s stock valued at $1,314,000 after acquiring an additional 48,258 shares during the period. Peapack Gladstone Financial Corp raised its position in shares of Bloom Energy by 4.4% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 271,924 shares of the company’s stock valued at $2,871,000 after acquiring an additional 11,525 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Bloom Energy during the 3rd quarter worth approximately $34,000. Finally, Duff & Phelps Investment Management Co. acquired a new position in Bloom Energy during the third quarter valued at approximately $517,000. 77.04% of the stock is owned by 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.