Traders Purchase High Volume of Bloom Energy Call Options (NYSE:BE)

Bloom Energy Co. (NYSE:BE) was the recipient of some unusual options trading on Wednesday. Stock traders bought 24,301 call options on the company. This represents an increase of approximately 204% compared to the typical daily volume of 7,994 call options.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BE. Jefferies Financial Group lowered Bloom Energy from a “buy” rating to a “hold” rating and cut their target price for the company from $15.00 to $11.00 in a research report on Friday, September 6th. Piper Sandler restated a “neutral” rating and set a $10.00 target price (down previously from $11.00) on shares of Bloom Energy in a research report on Tuesday, October 29th. Truist Financial cut their target price on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. Bank of America cut their target price on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research report on Thursday, November 7th. Finally, Robert W. Baird cut their target price on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.08.

Institutional Trading of Bloom Energy

Several institutional investors and hedge funds have recently modified their holdings of BE. ORG Partners LLC purchased a new position in Bloom Energy in the second quarter worth $40,000. Quest Partners LLC boosted its holdings in shares of Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after buying an additional 3,475 shares during the last quarter. Gilliland Jeter Wealth Management LLC bought a new position in Bloom Energy during the second quarter valued at about $53,000. Mather Group LLC. bought a new stake in Bloom Energy in the second quarter worth about $66,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in Bloom Energy in the third quarter valued at about $74,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Stock Down 2.4 %

Shares of Bloom Energy stock opened at $13.28 on Friday. Bloom Energy has a 52 week low of $8.41 and a 52 week high of $18.14. The business has a 50 day moving average price of $10.55 and a 200-day moving average price of $12.19. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 3.33.

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.