Bloom Energy (BE) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Bloom Energy (NYSE:BE) from a hold rating to a buy rating in a research report report published on Monday, Zacks.com reports. The firm currently has $15.00 target price on the stock.

According to Zacks, “Bloom Energy Corporation generates and distributes renewable energy. It supplies electricity to the residential, commercial and industrial sectors. Bloom Energy Corporation is based in CA, United States. “

A number of other equities research analysts also recently issued reports on the stock. ValuEngine raised shares of Bloom Energy from a hold rating to a buy rating in a research note on Tuesday, January 29th. Raymond James set a $13.00 price target on shares of Bloom Energy and gave the company a buy rating in a research note on Thursday, March 7th. Finally, Credit Suisse Group raised shares of Bloom Energy from a neutral rating to an outperform rating and set a $10.06 price target on the stock in a research note on Wednesday, February 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. Bloom Energy currently has an average rating of Buy and a consensus target price of $20.90.

Shares of NYSE:BE opened at $12.99 on Monday. The company has a debt-to-equity ratio of 10.34, a current ratio of 2.32 and a quick ratio of 1.93. Bloom Energy has a fifty-two week low of $8.88 and a fifty-two week high of $38.00. The firm has a market cap of $1.51 billion and a P/E ratio of -5.35.

In related news, insider William Thayer sold 25,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $15.76, for a total transaction of $394,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Swaminathan Venkataraman sold 31,565 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $15.02, for a total transaction of $474,106.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 726,928 shares of company stock worth $9,783,815. 36.45% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Bloom Energy by 564.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,173 shares of the company’s stock valued at $27,000 after acquiring an additional 1,846 shares during the period. US Bancorp DE raised its stake in shares of Bloom Energy by 290.9% in the first quarter. US Bancorp DE now owns 3,655 shares of the company’s stock valued at $47,000 after acquiring an additional 2,720 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in shares of Bloom Energy in the fourth quarter valued at $40,000. Barclays PLC raised its stake in shares of Bloom Energy by 4,865.0% in the fourth quarter. Barclays PLC now owns 4,965 shares of the company’s stock valued at $50,000 after acquiring an additional 4,865 shares during the period. Finally, Bluestein R H & Co. raised its stake in shares of Bloom Energy by 48.0% in the first quarter. Bluestein R H & Co. now owns 18,500 shares of the company’s stock valued at $239,000 after acquiring an additional 6,000 shares during the period. 20.80% of the stock is currently owned by institutional investors and hedge funds.

About Bloom Energy

Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. The company offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion.

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