Bloom Energy (NYSE:BE) Shares Up 7.5% – Still a Buy?

Bloom Energy Co. (NYSE:BE)’s share price shot up 7.5% during mid-day trading on Friday . The company traded as high as $25.30 and last traded at $25.13. 2,027,901 shares were traded during mid-day trading, a decline of 33% from the average session volume of 3,015,760 shares. The stock had previously closed at $23.37.

Wall Street Analysts Forecast Growth

BE has been the topic of a number of recent research reports. Hsbc Global Res raised shares of Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. Royal Bank of Canada lifted their price target on shares of Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Robert W. Baird lifted their price target on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Roth Capital raised shares of Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Finally, Truist Financial reduced their target price on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.45.

Bloom Energy Price Performance

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 cap of $5.76 billion, a PE ratio of -45.03 and a beta of 3.04. The stock has a fifty day moving average price of $20.70 and a 200-day moving average price of $14.82.

Insiders Place Their Bets

In related news, CEO Kr Sridhar sold 46,697 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the transaction, the chief executive officer now owns 1,822,496 shares of the company’s stock, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the transaction, the insider now owns 168,561 shares in the company, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,975 shares of company stock worth $3,045,019 in the last quarter. 3.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Bloom Energy

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in shares of Bloom Energy by 26.8% in the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after acquiring an additional 569 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in shares of Bloom Energy by 21.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 21,404 shares of the company’s stock worth $226,000 after buying an additional 3,824 shares in the last quarter. Franklin Resources Inc. increased its holdings in Bloom Energy by 62.4% during the 3rd quarter. Franklin Resources Inc. now owns 125,598 shares of the company’s stock valued at $1,314,000 after purchasing an additional 48,258 shares in the last quarter. Peapack Gladstone Financial Corp increased its holdings in Bloom Energy by 4.4% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 271,924 shares of the company’s stock valued at $2,871,000 after purchasing an additional 11,525 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Bloom Energy during the 3rd quarter valued at $34,000. Institutional investors own 77.04% of the company’s stock.

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.