Bloom Energy (NYSE:BE) Downgraded by HSBC to “Hold”

HSBC cut shares of Bloom Energy (NYSE:BEFree Report) from a buy rating to a hold rating in a research report released on Wednesday, MarketBeat.com reports. HSBC currently has $24.50 price objective on the stock.

A number of other analysts also recently issued reports on BE. Bank of America lowered their price target on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a research report on Thursday, November 7th. Robert W. Baird lowered 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. Morgan Stanley lifted their price target on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Monday. Piper Sandler raised 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. Finally, Jefferies Financial Group lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and cut their price target for the stock from $15.00 to $11.00 in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, nine have issued 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.55.

View Our Latest Stock Analysis on BE

Bloom Energy Stock Up 4.4 %

Shares of NYSE BE opened at $24.79 on Wednesday. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of -43.09 and a beta of 2.71. Bloom Energy has a 12-month low of $8.41 and a 12-month high of $25.12. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The firm’s 50-day moving average price is $11.36 and its 200-day moving average price is $12.45.

Insider Activity

In related news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction 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 sale, the insider now owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mizuho Markets Americas LLC raised its position in shares of Bloom Energy by 8.2% during the 3rd quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock worth $4,335,000 after purchasing an additional 31,189 shares during the last quarter. Parametrica Management Ltd purchased a new position in shares of Bloom Energy in the third quarter valued at approximately $785,000. International Assets Investment Management LLC boosted its stake in shares of Bloom Energy by 1,490.8% in the third quarter. International Assets Investment Management LLC now owns 185,328 shares of the company’s stock worth $19,570,000 after acquiring an additional 173,678 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Bloom Energy by 148.8% during the third quarter. Oppenheimer & Co. Inc. now owns 130,418 shares of the company’s stock worth $1,377,000 after purchasing an additional 78,009 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Bloom Energy by 13.1% in the 3rd quarter. Van ECK Associates Corp now owns 661,932 shares of the company’s stock valued at $6,990,000 after purchasing an additional 76,536 shares during the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Company Profile

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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.

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Analyst Recommendations for Bloom Energy (NYSE:BE)

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