Susquehanna Forecasts Strong Price Appreciation for Bloom Energy (NYSE:BE) Stock

Bloom Energy (NYSE:BE) had its price target raised by research analysts at Susquehanna from $20.00 to $33.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s price target would indicate a potential upside of 21.86% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. BMO Capital Markets lifted their target price on shares of Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a research note on Friday, November 15th. Hsbc Global Res raised shares of Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. Jefferies Financial Group boosted their price objective on shares of Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Finally, Piper Sandler increased their target price on shares of Bloom Energy from $20.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Bloom Energy has a consensus rating of “Hold” and a consensus target price of $20.08.

Bloom Energy Stock Up 4.3 %

Shares of NYSE BE opened at $27.08 on Friday. Bloom Energy has a one year low of $8.41 and a one year high of $28.70. The stock has a market capitalization of $6.19 billion, a P/E ratio of -48.36 and a beta of 3.04. The firm’s 50 day simple moving average is $15.47 and its two-hundred day simple moving average is $13.71. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the 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 owns 168,561 shares in the company, valued at $4,139,858.16. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kr Sridhar sold 72,903 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the transaction, the chief executive officer now owns 1,869,593 shares of the company’s stock, valued at approximately $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 122,975 shares of company stock worth $3,045,019. 8.81% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Mizuho Markets Americas LLC raised its position in Bloom Energy by 8.2% in the 3rd quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock worth $4,335,000 after buying an additional 31,189 shares during the last quarter. Parametrica Management Ltd purchased a new position in shares of Bloom Energy during the third quarter valued at approximately $785,000. Edgestream Partners L.P. bought a new position in Bloom Energy during the third quarter valued at approximately $3,274,000. Penserra Capital Management LLC lifted its position in Bloom Energy by 20.7% during the third quarter. Penserra Capital Management LLC now owns 165,660 shares of the company’s stock valued at $1,749,000 after purchasing an additional 28,416 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Bloom Energy by 1,490.8% in the third quarter. International Assets Investment Management LLC now owns 185,328 shares of the company’s stock worth $19,570,000 after purchasing an additional 173,678 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

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.