Bloom Energy (NYSE:BE) Trading Up 9.8% – What’s Next?

Shares of Bloom Energy Co. (NYSE:BE) shot up 9.8% during trading on Monday . The stock traded as high as $18.48 and last traded at $18.22. 2,019,713 shares were traded during mid-day trading, a decline of 69% from the average session volume of 6,607,030 shares. The stock had previously closed at $16.60.

Analyst Upgrades and Downgrades

BE has been the topic of several recent analyst reports. BMO Capital Markets restated a “market perform” rating on shares of Bloom Energy in a report on Friday, February 28th. Truist Financial boosted their target price on shares of Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Roth Mkm began coverage on shares of Bloom Energy in a report on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 price target for the company. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. Finally, Royal Bank of Canada restated an “outperform” rating on shares of Bloom Energy in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $25.06.

Bloom Energy Trading Up 3.7 %

The stock’s 50 day simple moving average is $23.31 and its two-hundred day simple moving average is $20.17. The stock has a market capitalization of $3.97 billion, a PE ratio of -30.75 and a beta of 3.27. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Insider Transactions at Bloom Energy

In related news, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. This represents a 0.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the transaction, the insider now owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.81% of the stock is owned by corporate insiders.

Institutional Trading of Bloom Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Bloom Energy by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company’s stock valued at $427,194,000 after acquiring an additional 356,317 shares in the last quarter. Norges Bank purchased a new stake in Bloom Energy in the fourth quarter valued at approximately $93,951,000. Fuller & Thaler Asset Management Inc. bought a new stake in Bloom Energy during the fourth quarter valued at approximately $61,968,000. Legal & General Group Plc grew its stake in Bloom Energy by 7.3% in the 4th quarter. Legal & General Group Plc now owns 2,133,318 shares of the company’s stock worth $47,381,000 after buying an additional 144,616 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Bloom Energy by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company’s stock worth $36,737,000 after buying an additional 10,265 shares during the last quarter. 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.