Bloom Energy (NYSE:BE) Given New $33.00 Price Target at UBS Group

Bloom Energy (NYSE:BE) had its price target hoisted by UBS Group from $21.00 to $33.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

BE has been the topic of several other research reports. Piper Sandler upped their price objective on Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Susquehanna upped their price objective on Bloom Energy from $13.00 to $16.00 and gave the company a “positive” rating in a research report on Tuesday, November 12th. BTIG Research increased their price target on Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Bank of America dropped their price target on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating on the stock in a research report on Thursday, November 7th. Finally, Royal Bank of Canada increased their price target on Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $19.18.

Bloom Energy Stock Performance

NYSE:BE opened at $26.18 on Tuesday. The stock’s fifty day moving average is $12.54 and its 200 day moving average is $12.82. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $26.92. The firm has a market capitalization of $5.98 billion, a PE ratio of -46.74 and a beta of 2.71. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction dated Monday, November 18th. The stock was 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 directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kr Sridhar sold 46,697 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $25.00, for a total value of $1,167,425.00. Following the completion of the sale, the chief executive officer now owns 1,822,496 shares of the company’s stock, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 122,975 shares of company stock valued at $3,045,019 over the last quarter. 3.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

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

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.