Bloom Energy (NYSE:BE) Upgraded to Overweight at Piper Sandler

Piper Sandler upgraded shares of Bloom Energy (NYSE:BE) from a neutral rating to an overweight rating in a research note issued to investors on Friday morning, Marketbeat Ratings reports. They currently have $20.00 target price on the stock, up from their prior target price of $10.00.

BE has been the subject of several other research reports. Jefferies Financial Group lowered Bloom Energy from a “buy” rating to a “hold” rating and cut their price target for the company from $15.00 to $11.00 in a research note on Friday, September 6th. UBS Group reduced their target price on Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Bank of America decreased their target price 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. Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, Robert W. Baird decreased their price objective on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.11.

Bloom Energy Stock Up 59.2 %

BE stock opened at $21.14 on Friday. Bloom Energy has a one year low of $8.41 and a one year high of $22.50. The company has a debt-to-equity ratio of 3.09, a quick ratio of 3.33 and a current ratio of 3.36. The firm’s fifty day moving average is $10.82 and its 200 day moving average is $12.28. The firm has a market cap of $4.83 billion, a PE ratio of -37.75 and a beta of 2.71.

Institutional Trading of Bloom Energy

Several large investors have recently added to or reduced their stakes in the stock. Electron Capital Partners LLC boosted its position in shares of Bloom Energy by 131.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after acquiring an additional 1,790,733 shares during the last quarter. JAT Capital Mgmt LP raised its stake in Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after purchasing an additional 733,363 shares during the period. Artemis Investment Management LLP acquired a new position in Bloom Energy in the 2nd quarter valued at about $7,502,000. DigitalBridge Group Inc. grew its stake in shares of Bloom Energy by 66.3% in the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after buying an additional 462,581 shares during the period. Finally, Pier Capital LLC acquired a new stake in shares of Bloom Energy during the 2nd quarter worth 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.