Mizuho Initiates Coverage on Bloom Energy (NYSE:BE)

Mizuho started coverage on shares of Bloom Energy (NYSE:BE) in a research note published on Tuesday, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $28.00 price target on the stock.

BE has been the topic of several other reports. HSBC lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target on the stock. in a report on Wednesday, November 20th. JPMorgan Chase & Co. lifted their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Susquehanna lifted their price target on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a report on Friday, December 6th. Roth Mkm assumed coverage on shares of Bloom Energy in a research note on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price objective for the company. Finally, Piper Sandler lowered their price objective on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $25.06.

Bloom Energy Price Performance

NYSE BE opened at $25.46 on Tuesday. The firm’s fifty day simple moving average is $24.10 and its two-hundred day simple moving average is $19.22. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. Bloom Energy has a 12-month low of $9.02 and a 12-month high of $29.83. The firm has a market capitalization of $5.87 billion, a P/E ratio of -45.46 and a beta of 3.30.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the transaction, the insider now owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the transaction, the insider now directly owns 178,656 shares of the company’s stock, valued at $4,482,479.04. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by insiders.

Institutional Trading of Bloom Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. 111 Capital purchased a new stake in shares of Bloom Energy during the fourth quarter worth about $278,000. Mackenzie Financial Corp increased its stake in shares of Bloom Energy by 1.7% during the fourth quarter. Mackenzie Financial Corp now owns 63,372 shares of the company’s stock worth $1,407,000 after purchasing an additional 1,035 shares in the last quarter. DigitalBridge Group Inc. increased its stake in shares of Bloom Energy by 5.7% during the fourth quarter. DigitalBridge Group Inc. now owns 1,418,257 shares of the company’s stock worth $31,499,000 after purchasing an additional 75,974 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Bloom Energy during the fourth quarter worth about $3,834,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Bloom Energy during the fourth quarter worth about $49,000. Hedge funds and other institutional investors 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.