Bloom Energy (NYSE:BE) Price Target Raised to $28.00

Bloom Energy (NYSE:BE) had its target price hoisted by equities researchers at Royal Bank of Canada from $15.00 to $28.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 17.92% from the company’s previous close.

A number of other equities research analysts have also weighed in on BE. Piper Sandler raised shares of Bloom Energy from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $10.00 to $20.00 in a report on Friday, November 15th. Morgan Stanley boosted their price objective on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Monday. BMO Capital Markets upped their price target on shares of Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a report on Friday, November 15th. Susquehanna upped their price target on shares of Bloom Energy from $13.00 to $16.00 and gave the company a “positive” rating in a report on Tuesday, November 12th. Finally, UBS Group lowered their price target on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.17.

Bloom Energy Price Performance

Shares of BE opened at $23.75 on Monday. The firm has a market capitalization of $5.43 billion, a PE ratio of -42.41 and a beta of 2.71. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $24.92. The company’s fifty day moving average price is $11.08 and its 200-day moving average price is $12.36.

Insider Buying and Selling

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the sale, the insider now owns 168,561 shares in the company, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.50% of the company’s stock.

Institutional Trading of Bloom Energy

Hedge funds have recently bought and sold shares of the business. Millburn Ridgefield Corp raised its holdings in 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 last quarter. ORG Partners LLC acquired a new stake in Bloom Energy in the 2nd quarter valued at about $40,000. Quest Partners LLC raised its holdings in Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after acquiring an additional 3,475 shares during the last quarter. Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Bloom Energy in the 2nd quarter valued at approximately $53,000. Finally, Mather Group LLC. purchased a new stake in shares of Bloom Energy in the 2nd quarter valued at approximately $66,000. Institutional investors and hedge funds 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.