Bloom Energy (NYSE:BE) Stock Price Expected to Rise, Piper Sandler Analyst Says

Bloom Energy (NYSE:BEGet Free Report) had its price target upped by research analysts at Piper Sandler from $30.00 to $33.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 61.05% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Susquehanna raised their price target on Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research report on Friday, December 6th. Robert W. Baird boosted their target price on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. BTIG Research increased their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. BMO Capital Markets boosted their price objective 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. Finally, Morgan Stanley raised their target price on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bloom Energy presently has a consensus rating of “Hold” and an average price target of $23.13.

Get Our Latest Analysis on Bloom Energy

Bloom Energy Stock Down 8.6 %

Shares of BE opened at $20.49 on Monday. 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 12 month low of $8.41 and a 12 month high of $29.83. The firm’s 50 day moving average is $24.69 and its 200-day moving average is $16.32. The stock has a market capitalization of $4.68 billion, a PE ratio of -36.59 and a beta of 3.06.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the 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 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kr Sridhar sold 46,697 shares of the company’s stock in a transaction 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 directly owns 1,822,496 shares in the company, valued at $45,562,400. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In 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.

Hedge Funds Weigh In On Bloom Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Millburn Ridgefield Corp increased its stake in Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after purchasing an additional 528 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Bloom Energy by 26.8% during the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after acquiring an additional 569 shares in the last quarter. Xponance Inc. raised its holdings in shares of Bloom Energy by 7.8% in the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company’s stock worth $154,000 after acquiring an additional 903 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Bloom Energy by 2.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 47,400 shares of the company’s stock valued at $1,053,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its stake in Bloom Energy by 3.9% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock valued at $374,000 after purchasing an additional 1,349 shares during the last quarter. Institutional investors own 77.04% of the company’s stock.

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.

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Analyst Recommendations for Bloom Energy (NYSE:BE)

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