BTIG Research Issues Positive Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its target price hoisted by BTIG Research from $20.00 to $30.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on BE. Roth Capital raised shares of Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. Roth Mkm initiated coverage on shares of Bloom Energy in a research note on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price target on the stock. Robert W. Baird upped their price objective on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. UBS Group raised their price objective on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, BMO Capital Markets boosted their target price on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bloom Energy has a consensus rating of “Hold” and a consensus price target of $22.45.

Bloom Energy Trading Up 2.2 %

NYSE:BE opened at $26.15 on Monday. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $28.70. The stock has a market cap of $5.98 billion, a P/E ratio of -46.70 and a beta of 3.04. The stock has a 50-day simple moving average of $16.89 and a 200-day simple moving average of $13.99.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the sale, the insider now directly owns 168,561 shares in the company, valued at $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kr Sridhar sold 46,697 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 1,822,496 shares of the company’s stock, valued at $45,562,400. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,975 shares of company stock worth $3,045,019 in the last three months. Insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

Institutional investors have recently added to or reduced their stakes in the stock. Millburn Ridgefield Corp raised its holdings in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after purchasing an additional 528 shares during the last quarter. Xponance Inc. lifted its stake in shares of Bloom Energy by 7.8% during the second quarter. Xponance Inc. now owns 12,542 shares of the company’s stock valued at $154,000 after buying an additional 903 shares during the period. Kovitz Investment Group Partners LLC grew its stake in Bloom Energy by 3.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock worth $374,000 after acquiring an additional 1,349 shares during the period. Arizona State Retirement System raised its holdings in Bloom Energy by 2.7% in the 2nd quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock valued at $696,000 after acquiring an additional 1,470 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Bloom Energy during the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Company Profile

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.