Bloom Energy (NYSE:BE) Price Target Raised to $30.00

Bloom Energy (NYSE:BE) had its target price boosted by Piper Sandler from $20.00 to $30.00 in a research note published on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the company. Robert W. Baird reduced their price objective on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Jefferies Financial Group lowered Bloom Energy from a “buy” rating to a “hold” rating and reduced their price target for the stock from $15.00 to $11.00 in a research report on Friday, September 6th. Morgan Stanley boosted their price target on Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Hsbc Global Res raised Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. Finally, BMO Capital Markets boosted their price target on Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, ten 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, Bloom Energy has a consensus rating of “Hold” and a consensus price target of $18.66.

Bloom Energy Stock Up 7.6 %

BE opened at $25.76 on Friday. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of -46.00 and a beta of 2.71. The business has a 50-day moving average of $12.22 and a two-hundred day moving average of $12.71. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $26.26.

Insider Activity

In related news, CEO Kr Sridhar sold 46,697 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,822,496 shares of the company’s stock, valued at approximately $45,562,400. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the company’s 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 transaction, the insider now directly owns 168,561 shares in the company, valued at $4,139,858.16. The trade was a 0.76 % 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 currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Mizuho Markets Americas LLC boosted its stake in Bloom Energy by 8.2% during the 3rd quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock valued at $4,335,000 after purchasing an additional 31,189 shares during the period. Parametrica Management Ltd bought a new stake in shares of Bloom Energy in the 3rd quarter worth approximately $785,000. International Assets Investment Management LLC lifted its position in shares of Bloom Energy by 1,490.8% in the 3rd quarter. International Assets Investment Management LLC now owns 185,328 shares of the company’s stock worth $19,570,000 after acquiring an additional 173,678 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of Bloom Energy by 148.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 130,418 shares of the company’s stock worth $1,377,000 after acquiring an additional 78,009 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Bloom Energy by 13.1% in the 3rd quarter. Van ECK Associates Corp now owns 661,932 shares of the company’s stock worth $6,990,000 after acquiring an additional 76,536 shares during the period. 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.