Bloom Energy (NYSE:BE) Stock Price Up 9.8% – Time to Buy?

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

Analyst Ratings Changes

BE has been the subject of a number of research reports. Truist Financial upped their price objective on Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. BTIG Research increased their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, December 16th. 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 research note on Thursday, January 23rd. Bank of America cut their price objective on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Finally, Robert W. Baird lifted their target price on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $25.06.

Bloom Energy Trading Up 3.7 %

The stock’s 50 day moving average is $23.31 and its 200-day moving average is $20.17. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The company has a market capitalization of $3.97 billion, a P/E ratio of -30.75 and a beta of 3.27.

Insider Activity

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the sale, the insider now directly owns 171,040 shares of the company’s stock, valued at $4,005,756.80. The trade was a 0.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares in the company, 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 company insiders.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds have recently added to or reduced their stakes in the stock. Centiva Capital LP lifted its stake in shares of Bloom Energy by 1,364.0% in the third quarter. Centiva Capital LP now owns 40,966 shares of the company’s stock worth $433,000 after buying an additional 44,207 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in Bloom Energy by 3.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock valued at $374,000 after purchasing an additional 1,349 shares during the period. Main Management ETF Advisors LLC purchased a new position in shares of Bloom Energy in the 3rd quarter worth $615,000. Pier Capital LLC grew its stake in shares of Bloom Energy by 0.9% during the 3rd quarter. Pier Capital LLC now owns 461,744 shares of the company’s stock valued at $4,876,000 after purchasing an additional 4,082 shares during the period. Finally, Duff & Phelps Investment Management Co. bought a new position in shares of Bloom Energy in the 3rd quarter worth 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.