Bloom Energy (NYSE:BE) Price Target Raised to $32.00

Bloom Energy (NYSE:BE) had its target price upped by Robert W. Baird from $15.00 to $32.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also recently issued research reports about the company. BTIG Research upped their price target on Bloom Energy from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Bank of America boosted their price objective on Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a research note on Monday, December 9th. Truist Financial cut their target price on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th. UBS Group boosted their price target on shares of Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, HSBC downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective for the company. in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Bloom Energy has a consensus rating of “Hold” and an average price target of $21.92.

Bloom Energy Trading Up 3.1 %

Shares of BE stock opened at $25.59 on Thursday. Bloom Energy has a 12-month low of $8.41 and a 12-month high of $28.70. 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 has a 50 day moving average of $16.89 and a 200-day moving average of $14.00. The firm has a market cap of $5.85 billion, a P/E ratio of -45.70 and a beta of 3.04.

Insider Activity at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the company’s 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 transaction, the insider now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kr Sridhar sold 46,697 shares of the firm’s 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 transaction, the chief executive officer now directly owns 1,822,496 shares in the company, valued at approximately $45,562,400. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,975 shares of company stock valued at $3,045,019 over the last three months. 8.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Millburn Ridgefield Corp boosted its position 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 buying an additional 528 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Bloom Energy during the third quarter worth about $34,000. ORG Partners LLC bought a new stake in shares of Bloom Energy in the second quarter worth about $40,000. Quest Partners LLC increased its holdings in Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after purchasing an additional 3,475 shares during the period. Finally, Gilliland Jeter Wealth Management LLC bought a new position in Bloom Energy during the 2nd quarter valued at approximately $53,000. Institutional investors own 77.04% of the company’s stock.

About Bloom Energy

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.