Jefferies Financial Group Forecasts Strong Price Appreciation for Bloom Energy (NYSE:BE) Stock

Bloom Energy (NYSE:BE) had its price objective raised by stock analysts at Jefferies Financial Group from $12.00 to $22.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s price objective indicates a potential downside of 14.60% from the company’s previous close.

A number of other research analysts have also issued reports on the company. UBS Group dropped their target price on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. BTIG Research boosted their price objective 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. Royal Bank of Canada upped their price objective on shares of Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Hsbc Global Res raised shares of Bloom Energy to a “hold” rating in a report on Wednesday. Finally, Truist Financial cut their price target on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.66.

Bloom Energy Stock Performance

NYSE BE opened at $25.76 on Friday. The business’s 50-day moving average price is $12.22 and its 200 day moving average price is $12.71. 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 firm has a market cap of $5.89 billion, a P/E ratio of -46.01 and a beta of 2.71. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $26.26.

Insider Activity

In related news, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the transaction, the chief executive officer now directly owns 1,869,593 shares in the company, valued at $46,777,216.86. The trade was a 3.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the sale, the insider now owns 168,561 shares in the company, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their position. 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 currently owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

A number of institutional investors have recently made changes to their positions in BE. Millburn Ridgefield Corp boosted 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 valued at $25,000 after acquiring an additional 528 shares during the last quarter. ORG Partners LLC purchased a new position in Bloom Energy in the 2nd quarter valued at about $40,000. Quest Partners LLC boosted its stake in shares of Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after purchasing an additional 3,475 shares during the last quarter. Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Bloom Energy during the second quarter worth about $53,000. Finally, Mather Group LLC. acquired a new position in shares of Bloom Energy in the second quarter valued at approximately $66,000. 77.04% of the stock is owned by institutional investors and hedge funds.

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.