Bloom Energy (NYSE:BE) Trading Up 8% - Still a Buy?

Bloom Energy Co. (NYSE:BE - Get Free Report) traded up 8% during mid-day trading on Tuesday . The stock traded as high as $24.56 and last traded at $24.44. 2,119,781 shares changed hands during trading, a decline of 68% from the average session volume of 6,711,593 shares. The stock had previously closed at $22.62.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BE shares. 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 report on Thursday, December 12th. Truist Financial lifted their price target on shares of Bloom Energy from $11.00 to $22.00 and gave the company a "hold" rating in a report on Thursday, January 16th. JPMorgan Chase & Co. lifted their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Morgan Stanley lifted their price target on shares of Bloom Energy from $20.00 to $28.00 and gave the company an "overweight" rating in a report on Monday, November 18th. Finally, BTIG Research lifted their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the company a "buy" rating in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eight have assigned 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 "Hold" and an average target price of $24.47.

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 firm has a market cap of $5.62 billion, a P/E ratio of -43.55 and a beta of 3.30. The stock's 50-day simple moving average is $24.12 and its two-hundred day simple moving average is $18.87.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the company's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the transaction, the insider now directly owns 171,040 shares in the company, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 8.81% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D lifted its stake in Bloom Energy by 39.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 167,108 shares of the company's stock worth $1,765,000 after acquiring an additional 47,272 shares during the period. Versor Investments LP purchased a new stake in Bloom Energy in the third quarter worth about $189,000. GSA Capital Partners LLP purchased a new stake in shares of Bloom Energy during the third quarter valued at about $268,000. Oppenheimer & Co. Inc. lifted 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 valued at $1,377,000 after buying an additional 78,009 shares during the last quarter. Finally, Mizuho Markets Americas LLC lifted its position in shares of Bloom Energy by 8.2% during the third quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company's stock valued at $4,335,000 after buying an additional 31,189 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors.

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.