Bloom Energy (NYSE:BE) Trading 8.1% Higher – Here’s Why

Bloom Energy Corporation (NYSE:BE)’s stock price was up 8.1% on Tuesday . The stock traded as high as $176.49 and last traded at $168.7130. Approximately 13,707,494 shares changed hands during trading, an increase of 8% from the average daily volume of 12,680,551 shares. The stock had previously closed at $156.13.

Analyst Upgrades and Downgrades

Several research firms recently commented on BE. Bank of America raised their price target on shares of Bloom Energy from $26.00 to $39.00 and gave the stock an “underperform” rating in a report on Tuesday, November 25th. Robert W. Baird set a $172.00 target price on shares of Bloom Energy in a research note on Tuesday, January 27th. Royal Bank Of Canada set a $143.00 price target on shares of Bloom Energy in a research note on Tuesday, January 20th. TD Cowen reiterated a “hold” rating on shares of Bloom Energy in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. boosted their target price on Bloom Energy to $129.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Bloom Energy presently has a consensus rating of “Hold” and a consensus price target of $111.13.

Bloom Energy Trading Up 8.1%

The company has a fifty day simple moving average of $114.72 and a two-hundred day simple moving average of $89.87. The company has a market capitalization of $39.90 billion, a P/E ratio of 840.94, a price-to-earnings-growth ratio of 12.75 and a beta of 3.07. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88.

Insider Buying and Selling

In other news, insider Shawn Marie Soderberg sold 36,666 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $141.00, for a total value of $5,169,906.00. Following the sale, the insider directly owned 225,949 shares of the company’s stock, valued at approximately $31,858,809. This trade represents a 13.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Maciej Kurzymski sold 13,105 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $144.09, for a total transaction of $1,888,299.45. Following the completion of the sale, the insider directly owned 93,269 shares of the company’s stock, valued at approximately $13,439,130.21. This trade represents a 12.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 120,410 shares of company stock valued at $16,557,185. 3.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

About Bloom Energy

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.