Bloom Energy (NYSE:BE) Trading 6.2% Higher – Time to Buy?

Bloom Energy Co. (NYSE:BE)’s share price shot up 6.2% during mid-day trading on Tuesday . The company traded as high as $21.02 and last traded at $20.88. 1,938,163 shares were traded during trading, a decline of 70% from the average session volume of 6,521,165 shares. The stock had previously closed at $19.66.

Wall Street Analysts Forecast Growth

BE has been the subject of several research analyst reports. BTIG Research upped their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Susquehanna raised their price objective on shares of Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a report on Friday, December 6th. Mizuho initiated coverage on shares of Bloom Energy in a report on Tuesday, March 18th. They set a “neutral” rating and a $28.00 target price on the stock. Morgan Stanley lifted their price target on shares of Bloom Energy from $28.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. lifted their target price on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.06.

Bloom Energy Stock Performance

The stock has a market cap of $4.77 billion, a price-to-earnings ratio of -36.95 and a beta of 3.30. The company’s fifty day simple moving average is $23.92 and its two-hundred day simple moving average is $19.90. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Insiders Place Their Bets

In related news, insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the transaction, the insider now directly owns 178,656 shares of the company’s stock, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shawn Marie Soderberg sold 1,639 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. SPX Gestao de Recursos Ltda purchased a new position in shares of Bloom Energy during the 4th quarter valued at $4,442,000. Duff & Phelps Investment Management Co. bought a new position in Bloom Energy during the third quarter worth about $517,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Bloom Energy by 184.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company’s stock valued at $9,209,000 after purchasing an additional 262,247 shares during the period. Edgestream Partners L.P. purchased a new position in Bloom Energy in the 3rd quarter valued at approximately $3,274,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Bloom Energy by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company’s stock valued at $36,737,000 after acquiring an additional 10,265 shares during the period. 77.04% of the stock is owned by institutional investors.

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.