Brokerages Set Bloom Energy Co. (NYSE:BE) Target Price at $19.14

Shares of Bloom Energy Co. (NYSE:BE) have been given an average rating of “Hold” by the twenty-one analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $20.08.

Several research firms have recently issued reports on BE. Morgan Stanley lifted their price objective on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Royal Bank of Canada upped 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. Bank of America cut their target price on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research report on Thursday, November 7th. 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. Finally, BMO Capital Markets increased 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 note on Friday, November 15th.

Bloom Energy Stock Up 4.3 %

Bloom Energy stock opened at $27.08 on Friday. The firm has a market capitalization of $6.19 billion, a P/E ratio of -48.36 and a beta of 3.04. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $28.70. The stock’s fifty day simple moving average is $15.47 and its 200-day simple moving average is $13.68.

Insiders Place Their Bets

In other Bloom Energy news, CEO Kr Sridhar sold 46,697 shares of Bloom Energy stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $25.00, for a total value of $1,167,425.00. Following the completion of the sale, the chief executive officer now owns 1,822,496 shares in the company, valued at $45,562,400. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 122,975 shares of company stock worth $3,045,019. Insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millburn Ridgefield Corp raised its stake in shares of Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after acquiring an additional 528 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Bloom Energy during the third quarter worth about $34,000. ORG Partners LLC acquired a new stake in shares of Bloom Energy in the second quarter valued at about $40,000. Quest Partners LLC raised its holdings in shares of Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after buying an additional 3,475 shares during the period. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in Bloom Energy during the 2nd quarter worth approximately $53,000. 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.