Bloom Energy (NYSE:BE) Sets New 52-Week High – What’s Next?

Bloom Energy Corporation (NYSE:BE)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $176.49 and last traded at $165.5330, with a volume of 2344609 shares. The stock had previously closed at $156.13.

Analyst Upgrades and Downgrades

BE has been the topic of several research reports. BMO Capital Markets set a $136.00 price target on shares of Bloom Energy in a report on Wednesday, October 29th. Hsbc Global Res raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 29th. Wedbush set a $39.00 price objective on shares of Bloom Energy in a report on Tuesday, November 25th. Oppenheimer reissued a “market perform” rating on shares of Bloom Energy in a report on Wednesday, October 29th. Finally, Wells Fargo & Company boosted their target price on shares of Bloom Energy to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $109.83.

Bloom Energy Stock Up 7.8%

The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40. The firm has a market cap of $39.81 billion, a price-to-earnings ratio of 840.94, a PEG ratio of 12.75 and a beta of 3.07. The business’s 50 day moving average price is $114.72 and its 200 day moving average price is $89.87.

Insider Activity at Bloom Energy

In other Bloom Energy news, Director Jim H. Snabe sold 20,000 shares of Bloom Energy stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $143.04, for a total value of $2,860,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Satish Chitoori sold 431 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $88.12, for a total transaction of $37,979.72. Following the completion of the transaction, the insider owned 229,449 shares of the company’s stock, valued at approximately $20,219,045.88. This trade represents a 0.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 120,410 shares of company stock valued at $16,557,185 in the last quarter. 3.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bloom Energy

Hedge funds have recently bought and sold shares of the business. Resona Asset Management Co. Ltd. acquired a new stake in Bloom Energy during the second quarter worth $108,000. Mizuho Markets Americas LLC grew its holdings in shares of Bloom Energy by 29.9% during the 2nd quarter. Mizuho Markets Americas LLC now owns 395,490 shares of the company’s stock worth $9,460,000 after purchasing an additional 90,980 shares during the period. Udine Wealth Management Inc. increased its position in shares of Bloom Energy by 27.8% during the 3rd quarter. Udine Wealth Management Inc. now owns 62,967 shares of the company’s stock worth $5,325,000 after purchasing an additional 13,684 shares during the last quarter. Straight Path Wealth Management purchased a new stake in Bloom Energy in the 3rd quarter valued at about $1,099,000. Finally, Huntleigh Advisors Inc. purchased a new stake in Bloom Energy in the 3rd quarter valued at about $766,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Company Profile

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.