Bloom Energy (NYSE:BE) Trading 8.1% Higher – What’s Next?

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

Wall Street Analysts Forecast Growth

BE has been the topic of several analyst reports. TD Cowen reissued a “hold” rating on shares of Bloom Energy in a research note on Wednesday, October 29th. Susquehanna increased their price target on shares of Bloom Energy to $157.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. Hsbc Global Res raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. Zacks Research downgraded shares of Bloom Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Finally, UBS Group increased their target price on shares of Bloom Energy to $115.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $111.13.

Bloom Energy Trading Up 8.1%

The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. The firm has a market capitalization of $39.90 billion, a P/E ratio of 840.94, a PEG ratio of 12.75 and a beta of 3.07. The business has a 50 day moving average of $114.72 and a 200-day moving average of $89.87.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,583 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $105.97, for a total transaction of $167,750.51. Following the sale, the insider directly owned 221,633 shares in the company, valued at $23,486,449.01. This trade represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Satish Chitoori sold 431 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $88.12, for a total transaction of $37,979.72. Following the completion of the sale, the insider directly owned 229,449 shares in the company, valued at $20,219,045.88. This represents a 0.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 120,410 shares of company stock valued at $16,557,185 over the last three months. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. WPG Advisers LLC raised its position in Bloom Energy by 26.4% in the 4th quarter. WPG Advisers LLC now owns 321 shares of the company’s stock valued at $28,000 after buying an additional 67 shares during the last quarter. Orion Capital Management LLC raised its holdings in shares of Bloom Energy by 0.7% in the fourth quarter. Orion Capital Management LLC now owns 12,083 shares of the company’s stock valued at $1,050,000 after purchasing an additional 83 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of Bloom Energy by 1.5% in the fourth quarter. Ritholtz Wealth Management now owns 5,765 shares of the company’s stock worth $501,000 after purchasing an additional 87 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in Bloom Energy by 7.3% during the fourth quarter. CoreCap Advisors LLC now owns 1,295 shares of the company’s stock worth $113,000 after purchasing an additional 88 shares during the last quarter. Finally, Reliant Investment Management LLC grew its position in Bloom Energy by 3.6% in the fourth quarter. Reliant Investment Management LLC now owns 2,556 shares of the company’s stock valued at $222,000 after purchasing an additional 90 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors.

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.