Bloom Energy (NYSE:BE) Sets New 1-Year High on Analyst Upgrade

Bloom Energy Co. (NYSE:BEGet Free Report) hit a new 52-week high on Friday after JPMorgan Chase & Co. raised their price target on the stock from $14.00 to $16.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Bloom Energy traded as high as $28.99 and last traded at $28.82, with a volume of 2260327 shares changing hands. The stock had previously closed at $27.67.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group raised their target price on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Robert W. Baird increased their price target on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. BMO Capital Markets increased their price target on shares of Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a research report on Friday, November 15th. Piper Sandler raised their price objective on shares of Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Truist Financial raised their price objective on shares of Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $23.08.

View Our Latest Research Report on BE

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy 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 sale, the insider now 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 at this link. Also, CEO Kr Sridhar sold 46,697 shares of Bloom Energy stock in a transaction on Friday, November 22nd. The stock was 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 in the company, valued at $45,562,400. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,528 shares of company stock worth $3,061,501. Insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BE. Millburn Ridgefield Corp raised its holdings in Bloom Energy by 29.2% during the 3rd 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. Wilmington Savings Fund Society FSB bought a new stake in Bloom Energy during the 3rd quarter worth about $34,000. Avior Wealth Management LLC bought a new stake in Bloom Energy during the 4th quarter worth about $40,000. GAMMA Investing LLC raised its holdings in Bloom Energy by 26.8% during the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after purchasing an additional 569 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Bloom Energy during the 3rd quarter worth about $74,000. 77.04% of the stock is owned by institutional investors.

Bloom Energy Price Performance

The stock has a market capitalization of $6.78 billion, a P/E ratio of -52.95 and a beta of 3.06. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The company has a fifty day simple moving average of $24.77 and a two-hundred day simple moving average of $16.19.

Bloom Energy Company Profile

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Bloom Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bloom Energy and related companies with MarketBeat.com's FREE daily email newsletter.