Bloom Energy (NYSE:BE) Price Target Raised to $22.00

Bloom Energy (NYSE:BE) had its price objective increased by Jefferies Financial Group from $12.00 to $22.00 in a research report sent to investors on Friday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

Several other analysts have also commented on the stock. BMO Capital Markets lifted their price target on shares of Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research report on Friday, November 15th. Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Royal Bank of Canada raised 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. Susquehanna increased their target price on shares of Bloom Energy from $13.00 to $16.00 and gave the stock a “positive” rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley boosted their price target on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.66.

Bloom Energy Trading Up 7.6 %

Shares of BE opened at $25.76 on Friday. Bloom Energy has a 12-month low of $8.41 and a 12-month high of $26.26. The firm has a market capitalization of $5.89 billion, a P/E ratio of -46.00 and a beta of 2.71. The firm has a 50-day moving average price of $12.22 and a 200 day moving average price of $12.71. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Insider Buying and Selling

In other Bloom Energy news, CEO Kr Sridhar sold 46,697 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 1,822,496 shares of the company’s stock, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shawn Marie Soderberg sold 1,289 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now 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 position. The disclosure for this sale can be found here. Insiders sold 122,975 shares of company stock worth $3,045,019 over the last 90 days. 8.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently bought and sold shares of BE. Duff & Phelps Investment Management Co. purchased a new position in shares of Bloom Energy during the third quarter worth about $517,000. Pier Capital LLC grew its stake in Bloom Energy by 0.9% during the 3rd quarter. Pier Capital LLC now owns 461,744 shares of the company’s stock worth $4,876,000 after buying an additional 4,082 shares during the last quarter. Main Management ETF Advisors LLC acquired a new position in Bloom Energy during the third quarter worth approximately $615,000. Kovitz Investment Group Partners LLC increased its position in Bloom Energy by 3.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock worth $374,000 after buying an additional 1,349 shares during the period. Finally, Temasek Holdings Private Ltd purchased a new stake in Bloom Energy in the third quarter valued at approximately $3,249,000. 77.04% of the stock is currently 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.