Bloom Energy (NYSE:BE) Downgraded to Sell Rating by Redburn Atlantic

Redburn Atlantic lowered shares of Bloom Energy (NYSE:BE) from a neutral rating to a sell rating in a research report released on Wednesday, MarketBeat.com reports. The firm currently has $10.00 target price on the stock, down from their prior target price of $14.50.

A number of other analysts have also recently issued reports on BE. Mizuho assumed coverage on Bloom Energy in a research report on Tuesday, March 18th. They set a “neutral” rating and a $28.00 price objective on the stock. Piper Sandler dropped their target price on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bloom Energy in a research note on Friday, February 28th. Morgan Stanley boosted their target price on Bloom Energy from $28.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Finally, BTIG Research lifted their price objective on Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.29.

Bloom Energy Stock Performance

NYSE:BE traded down $0.74 during trading hours on Wednesday, hitting $17.13. 4,983,688 shares of the company traded hands, compared to its average volume of 6,842,399. 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 stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of -30.59 and a beta of 3.27. The firm has a 50-day moving average of $22.80 and a 200 day moving average of $20.27. Bloom Energy has a twelve month low of $9.02 and a twelve month high of $29.83.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the sale, the insider now directly owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. The trade was 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 this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the transaction, the insider now directly owns 178,656 shares in the company, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

A number of institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in Bloom Energy in the 4th quarter valued at about $93,951,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Bloom Energy in the 4th quarter valued at $61,968,000. Elemental Capital Partners LLC bought a new position in Bloom Energy during the 4th quarter valued at $33,612,000. Trivest Advisors Ltd purchased a new position in Bloom Energy during the 4th quarter worth $30,539,000. Finally, Voloridge Investment Management LLC grew its stake in shares of Bloom Energy by 323.6% in the 4th quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company’s stock worth $31,992,000 after acquiring an additional 1,100,352 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

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.