Bloom Energy (NYSE:BE) Trading 8% Higher – Still a Buy?

Bloom Energy Co. (NYSE:BE) shares traded up 8% during trading on Tuesday . The stock traded as high as $24.56 and last traded at $24.44. 2,119,781 shares were traded during trading, a decline of 68% from the average session volume of 6,711,593 shares. The stock had previously closed at $22.62.

Wall Street Analyst Weigh In

BE has been the topic of a number of research analyst reports. Hsbc Global Res raised Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. Bank of America lowered their target price on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. BTIG Research lifted their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Jefferies Financial Group increased their price objective on shares of Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Finally, HSBC downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 target price for the company. in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $24.47.

Bloom Energy Stock Down 2.6 %

The stock has a market capitalization of $5.51 billion, a P/E ratio of -42.71 and a beta of 3.30. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The company’s 50-day moving average price is $24.11 and its 200 day moving average price is $18.74.

Insider Activity

In other news, 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 sale, the insider now owns 171,040 shares in the company, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its position in shares of Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after buying an additional 934 shares in the last quarter. Mainstream Capital Management LLC bought a new position in shares of Bloom Energy during the 4th quarter valued at approximately $28,000. Jones Financial Companies Lllp grew its holdings in shares of Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after purchasing an additional 812 shares in the last quarter. Quarry LP bought a new stake in Bloom Energy in the fourth quarter worth $35,000. Finally, Avior Wealth Management LLC purchased a new stake in Bloom Energy during the fourth quarter valued at $40,000. 77.04% of the stock is currently 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.