Bloom Energy (NYSE:BE) Price Target Raised to $32.00 at Robert W. Baird

Bloom Energy (NYSE:BE) had its price target boosted by equities research analysts at Robert W. Baird from $15.00 to $32.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 25.00% from the company’s current price.

A number of other research firms also recently weighed in on BE. Jefferies Financial Group lifted their price objective on Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Roth Mkm assumed coverage on Bloom Energy in a research note on Wednesday. They issued a “neutral” rating and a $25.00 price target on the stock. Piper Sandler increased their price objective on Bloom Energy from $20.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. BTIG Research boosted their target price on shares of Bloom Energy from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Susquehanna increased their target price on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Bloom Energy currently has a consensus rating of “Hold” and an average target price of $21.92.

Bloom Energy Price Performance

NYSE:BE opened at $25.60 on Thursday. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of -45.71 and a beta of 3.04. The company has a 50-day moving average of $16.89 and a 200-day moving average of $14.02. Bloom Energy has a 52 week low of $8.41 and a 52 week high of $28.70. 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 Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the transaction, the insider now owns 168,561 shares of the company’s stock, valued at $4,139,858.16. This represents a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kr Sridhar sold 46,697 shares of Bloom Energy stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total value of $1,167,425.00. Following the sale, the chief executive officer now directly 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 sold a total of 122,975 shares of company stock worth $3,045,019 over the last 90 days. 8.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BE. Comerica Bank increased its stake in shares of Bloom Energy by 222.8% in the 1st quarter. Comerica Bank now owns 23,884 shares of the company’s stock valued at $268,000 after acquiring an additional 16,484 shares during the last quarter. ORG Partners LLC bought a new stake in Bloom Energy in the second quarter valued at approximately $40,000. Raymond James & Associates increased its stake in Bloom Energy by 10.7% in the second quarter. Raymond James & Associates now owns 424,892 shares of the company’s stock valued at $5,201,000 after purchasing an additional 41,202 shares in the last quarter. Canton Hathaway LLC acquired a new stake in Bloom Energy in the second quarter worth $159,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in shares of Bloom Energy during the second quarter worth $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.