Bloom Energy (NYSE:BE) Price Target Raised to $30.00

Bloom Energy (NYSE:BE) had its price objective raised by Piper Sandler from $20.00 to $30.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts also recently issued reports about the company. Susquehanna raised their price objective on Bloom Energy from $13.00 to $16.00 and gave the stock a “positive” rating in a report on Tuesday, November 12th. Robert W. Baird cut their price target on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Truist Financial decreased their price objective on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. Jefferies Financial Group lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and reduced their target price for the company from $15.00 to $11.00 in a report on Friday, September 6th. Finally, Morgan Stanley increased their price target on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.66.

Bloom Energy Stock Up 0.7 %

Shares of BE opened at $25.94 on Friday. The firm has a market cap of $5.93 billion, a PE ratio of -46.00 and a beta of 2.71. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The company’s fifty day moving average is $12.22 and its two-hundred day moving average is $12.72. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $26.92.

Insider Activity

In related news, CEO Kr Sridhar sold 46,697 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $45,562,400. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $31,657.84. Following the transaction, the insider now directly owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. The trade was 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 valued at $3,045,019. 3.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BE. Electron Capital Partners LLC increased its holdings in shares of Bloom Energy by 131.5% in the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after buying an additional 1,790,733 shares in the last quarter. JAT Capital Mgmt LP raised its position in shares of Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after purchasing an additional 733,363 shares during the period. Artemis Investment Management LLP purchased a new stake in shares of Bloom Energy during the second quarter valued at $7,502,000. DigitalBridge Group Inc. boosted its position in shares of Bloom Energy by 66.3% in the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after purchasing an additional 462,581 shares during the period. Finally, Pier Capital LLC acquired a new stake in Bloom Energy during the 2nd quarter worth about $5,602,000. 77.04% of the stock is owned by institutional investors and hedge funds.

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.