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

Bloom Energy (NYSE:BE) was upgraded by research analysts at Hsbc Global Res to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Marathon Capitl upgraded shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Morgan Stanley raised their price objective on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday. Piper Sandler upgraded shares of Bloom Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $10.00 to $20.00 in a research report on Friday, November 15th. HSBC downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 target price on the stock. in a research note on Wednesday. Finally, Robert W. Baird lowered their target price on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bloom Energy presently has an average rating of “Hold” and a consensus price target of $17.55.

Bloom Energy Price Performance

BE stock opened at $23.94 on Wednesday. The firm has a 50 day moving average of $11.64 and a 200-day moving average of $12.53. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $25.12. The firm has a market capitalization of $5.47 billion, a P/E ratio of -42.75 and a beta of 2.71.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $24.56, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

Large investors have recently added to or reduced their stakes in the stock. Millburn Ridgefield Corp boosted its holdings in Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after acquiring an additional 528 shares in the last quarter. ORG Partners LLC bought a new stake in Bloom Energy in the second quarter valued at $40,000. Quest Partners LLC boosted its holdings in Bloom Energy by 2,780.0% in the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after acquiring an additional 3,475 shares in the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in shares of Bloom Energy during the 2nd quarter valued at $53,000. Finally, Mather Group LLC. bought a new stake in shares of Bloom Energy during the 2nd quarter valued at $66,000. 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.