By otakuyassine3@gmail.com 
Bloom Energy Co. (NYSE:BE – Get Free Report) was the recipient of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 42,620,000 shares, a decline of 7.0% from the November 15th total of 45,830,000 shares. Based on an average daily volume of 8,170,000 shares, the days-to-cover ratio is currently 5.2 days.
Analysts Set New Price Targets
A number of research firms recently weighed in on BE. Jefferies Financial Group lifted their target price on shares of Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Bank of America lifted their price objective on shares of Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a research report on Monday, December 9th. Royal Bank of Canada increased their price objective on shares of Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Robert W. Baird boosted their target price on Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Finally, Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Bloom Energy has an average rating of “Hold” and a consensus price target of $22.45.
Insider Transactions at Bloom Energy
In other news, CEO Kr Sridhar sold 46,697 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the sale, the chief executive officer now owns 1,822,496 shares of the company’s stock, valued at $45,562,400. This represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shawn Marie Soderberg sold 1,289 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the sale, the insider now directly owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 122,975 shares of company stock worth $3,045,019 over the last quarter. 8.81% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Bloom Energy
Institutional investors have recently modified their holdings of the stock. Electron Capital Partners LLC increased its position in Bloom Energy by 131.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after purchasing an additional 1,790,733 shares during the period. JAT Capital Mgmt LP boosted its stake in shares of Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after purchasing an additional 733,363 shares in the last quarter. DigitalBridge Group Inc. increased its holdings in Bloom Energy by 66.3% during the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after buying an additional 462,581 shares during the period. Pier Capital LLC purchased a new stake in Bloom Energy during the second quarter worth $5,602,000. Finally, Erste Asset Management GmbH bought a new stake in Bloom Energy during the 3rd quarter valued at $3,762,000. 77.04% of the stock is owned by hedge funds and other institutional investors.
Bloom Energy Trading Down 5.3 %
Shares of BE traded down $1.38 during trading hours on Tuesday, reaching $24.77. 5,458,095 shares of the company traded hands, compared to its average volume of 6,582,582. The stock’s fifty day moving average price is $17.21 and its 200 day moving average price is $14.06. 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 firm has a market cap of $5.66 billion, a price-to-earnings ratio of -45.27 and a beta of 3.04. Bloom Energy has a 12-month low of $8.41 and a 12-month high of $28.70.
Bloom Energy Company Profile
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.
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