Traders Buy Large Volume of Call Options on Bloom Energy (NYSE:BE)

Bloom Energy Co. (NYSE:BE) was the recipient of unusually large options trading activity on Wednesday. Traders bought 24,301 call options on the company. This is an increase of approximately 204% compared to the typical volume of 7,994 call options.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. ORG Partners LLC purchased a new stake in shares of Bloom Energy in the 2nd quarter valued at $40,000. Quest Partners LLC boosted its position in shares of Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $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 in the 2nd quarter valued at about $53,000. Mather Group LLC. purchased a new stake in Bloom Energy during the 2nd quarter valued at approximately $66,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in Bloom Energy during the 3rd quarter valued at approximately $74,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. UBS Group cut their price target on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on shares of Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Bank of America dropped their price target on shares of Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a research note on Thursday, November 7th. Jefferies Financial Group downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and lowered their target price for the company from $15.00 to $11.00 in a research note on Friday, September 6th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $10.00 price target (down previously from $11.00) on shares of Bloom Energy in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Bloom Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.08.

Bloom Energy Stock Up 0.4 %

Shares of BE traded up $0.06 during trading hours on Wednesday, hitting $13.60. The company had a trading volume of 6,125,289 shares, compared to its average volume of 5,998,095. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $18.14. The firm has a fifty day moving average price of $10.55 and a 200-day moving average price of $12.19. The company has a debt-to-equity ratio of 3.09, a quick ratio of 3.33 and a current ratio of 3.36. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of -24.28 and a beta of 2.71.

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.