Bloom Energy Co. (NYSE:BE) Short Interest Down 7.0% in November

Bloom Energy Co. (NYSE:BE) saw a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 42,620,000 shares, a decrease 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 short-interest ratio is presently 5.2 days.

Bloom Energy Stock Performance

Shares of BE stock traded up $0.56 during trading hours on Monday, hitting $26.15. The stock had a trading volume of 6,895,144 shares, compared to its average volume of 6,588,198. The firm has a market capitalization of $5.98 billion, a PE ratio of -46.70 and a beta of 3.04. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $28.70. The stock’s 50 day moving average is $16.89 and its 200 day moving average is $13.99. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. HSBC downgraded Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective for the company. in a research report on Wednesday, November 20th. UBS Group boosted their price objective on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada boosted their price objective on Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Roth Mkm began coverage on Bloom Energy in a research report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price objective for the company. Finally, Susquehanna upped their price target on Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.45.

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the transaction, the insider now directly owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kr Sridhar sold 72,903 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total value of $1,824,033.06. Following the transaction, the chief executive officer now directly owns 1,869,593 shares of the company’s stock, valued at approximately $46,777,216.86. This represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock worth $3,045,019 over the last three months. Company insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Hedge funds have recently modified their holdings of the stock. Millburn Ridgefield Corp lifted its holdings in shares of Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after purchasing an additional 528 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Bloom Energy during the third quarter worth $34,000. Quest Partners LLC lifted its holdings in shares of Bloom Energy by 2,780.0% during the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after purchasing an additional 3,475 shares during the period. Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Bloom Energy during the second quarter worth $53,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Bloom Energy during the third quarter worth $74,000. 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.