Bloom Energy (NYSE:BE) Upgraded to “Overweight” at Piper Sandler

Piper Sandler upgraded shares of Bloom Energy (NYSE:BE) from a neutral rating to an overweight rating in a research note published on Friday, MarketBeat.com reports. They currently have $20.00 price target on the stock, up from their prior price target of $10.00.

A number of other research firms have also recently weighed in on BE. Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Jefferies Financial Group lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and decreased their price target for the company from $15.00 to $11.00 in a research note on Friday, September 6th. Bank of America dropped their price objective on shares of Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. Truist Financial lowered their target price on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. Finally, Robert W. Baird cut their price target on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.17.

Bloom Energy Stock Performance

NYSE:BE opened at $22.81 on Friday. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $24.92. The stock has a 50 day simple moving average of $10.82 and a 200 day simple moving average of $12.28. The stock has a market cap of $5.21 billion, a P/E ratio of -42.09 and a beta of 2.71. The company has a current ratio of 3.36, a quick ratio of 3.33 and a debt-to-equity ratio of 3.09.

Institutional Investors Weigh In On Bloom Energy

Several institutional investors have recently bought and sold shares of the stock. Millburn Ridgefield Corp raised its stake in Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after buying an additional 528 shares in the last quarter. ORG Partners LLC bought a new position in Bloom Energy in the 2nd quarter valued at approximately $40,000. Quest Partners LLC increased its holdings in Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after buying an additional 3,475 shares in the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in shares of Bloom Energy in the second quarter worth approximately $53,000. Finally, Mather Group LLC. purchased a new stake in Bloom Energy during the 2nd quarter valued at $66,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

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.