Bloom Energy (NYSE:BE) Price Target Raised to $33.00

Bloom Energy (NYSE:BE) had its price objective increased by UBS Group from $21.00 to $33.00 in a research report sent to investors on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other equities analysts have also issued reports on the company. Susquehanna boosted their price target on Bloom Energy from $13.00 to $16.00 and gave the company a “positive” rating in a research note on Tuesday, November 12th. Morgan Stanley boosted their target price on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Jefferies Financial Group raised their price target on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. HSBC lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective on the stock. in a report on Wednesday, November 20th. Finally, Robert W. Baird reduced their target price on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Bloom Energy has an average rating of “Hold” and a consensus price target of $19.14.

Bloom Energy Stock Performance

Shares of BE opened at $27.49 on Tuesday. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The firm’s fifty day simple moving average is $13.88 and its two-hundred day simple moving average is $13.23. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $28.70. The stock has a market capitalization of $6.28 billion, a P/E ratio of -49.09 and a beta of 2.71.

Insider Buying and Selling

In related 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 transaction of $31,657.84. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kr Sridhar sold 46,697 shares of Bloom Energy stock in a transaction dated 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 122,975 shares of company stock worth $3,045,019. 8.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Bloom Energy

Large investors have recently modified their holdings of the stock. Millburn Ridgefield Corp grew its holdings in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after purchasing an additional 528 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Bloom Energy during the 3rd quarter worth $34,000. ORG Partners LLC purchased a new stake in Bloom Energy in the 2nd quarter worth about $40,000. Quest Partners LLC raised its stake 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 period. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in Bloom Energy during the second quarter valued at about $53,000. Hedge funds and other 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.