Piper Sandler Issues Positive Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its price objective hoisted by investment analysts at Piper Sandler from $30.00 to $33.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 61.05% from the company’s current price.

A number of other brokerages also recently commented on BE. Truist Financial increased their price target on Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Susquehanna lifted their target price on Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research note on Friday, December 6th. Robert W. Baird increased their price target on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Jefferies Financial Group lifted their price objective on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. Finally, Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.13.

Bloom Energy Stock Down 8.6 %

Bloom Energy stock opened at $20.49 on Monday. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The stock has a market cap of $4.68 billion, a PE ratio of -36.59 and a beta of 3.06. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $29.83. The firm’s 50-day simple moving average is $24.69 and its 200 day simple moving average is $16.32.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the transaction, the insider now owns 171,040 shares of the company’s stock, valued at $4,005,756.80. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kr Sridhar sold 46,697 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were 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 in the company, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,528 shares of company stock worth $3,061,501 in the last ninety days. 8.81% of the stock is currently owned by insiders.

Institutional Trading of Bloom Energy

A number of hedge funds have recently bought and sold shares of BE. Millburn Ridgefield Corp raised its stake in shares of Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after acquiring an additional 528 shares in the last quarter. GAMMA Investing LLC raised its position in Bloom Energy by 26.8% in the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after purchasing an additional 569 shares during the period. Xponance Inc. lifted its stake in Bloom Energy by 7.8% in the second quarter. Xponance Inc. now owns 12,542 shares of the company’s stock worth $154,000 after purchasing an additional 903 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Bloom Energy by 2.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 47,400 shares of the company’s stock valued at $1,053,000 after buying an additional 1,000 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in shares of Bloom Energy by 3.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock worth $374,000 after buying an additional 1,349 shares during the period. Institutional investors own 77.04% of the company’s stock.

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.