Bloom Energy (NYSE:BE) Upgraded to Hold at Hsbc Global Res

Hsbc Global Res upgraded shares of Bloom Energy (NYSE:BE) to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

A number of other equities analysts have also recently commented on the company. Robert W. Baird reduced their target price on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. BTIG Research raised their price objective on Bloom Energy from $16.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 15th. Susquehanna upped their target price on shares of Bloom Energy from $13.00 to $16.00 and gave the stock a “positive” rating in a report on Tuesday, November 12th. Finally, Morgan Stanley increased their target price on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bloom Energy has a consensus rating of “Hold” and an average target price of $17.55.

Bloom Energy Stock Down 3.5 %

BE stock opened at $23.94 on Wednesday. Bloom Energy has a 52 week low of $8.41 and a 52 week high of $25.12. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The firm has a 50-day simple moving average of $11.64 and a 200-day simple moving average of $12.53. The stock has a market capitalization of $5.47 billion, a P/E ratio of -42.75 and a beta of 2.71.

Insider Buying and Selling

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the sale, the insider now owns 168,561 shares of the company’s stock, valued at $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. grew its position in Bloom Energy by 99,266.7% in the 1st quarter. Russell Investments Group Ltd. now owns 146,069 shares of the company’s stock valued at $1,642,000 after acquiring an additional 145,922 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Bloom Energy by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock worth $221,262,000 after buying an additional 156,434 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Bloom Energy by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 116,882 shares of the company’s stock valued at $1,314,000 after buying an additional 6,902 shares during the period. Tidal Investments LLC acquired a new position in shares of Bloom Energy in the first quarter worth $370,000. Finally, Comerica Bank increased its position in shares of Bloom Energy by 222.8% during the first quarter. Comerica Bank now owns 23,884 shares of the company’s stock worth $268,000 after acquiring an additional 16,484 shares during the period. 77.04% of the stock is owned by institutional investors and hedge funds.

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.