Brokerages Set Bloom Energy Co. (NYSE:BE) Price Target at $23.08

Shares of Bloom Energy Co. (NYSE:BE) have been given an average recommendation of “Hold” by the twenty-three analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $23.24.

A number of equities research analysts have weighed in on BE shares. Bank of America raised their price objective on Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a research note on Monday, December 9th. Truist Financial raised their price target on Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Roth Capital raised Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. Roth Mkm initiated coverage on Bloom Energy in a research note on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 price objective on the stock. Finally, Robert W. Baird boosted their price objective on Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th.

Bloom Energy Price Performance

Shares of NYSE BE opened at $22.29 on Friday. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $29.83. The business has a 50-day moving average of $24.76 and a 200-day moving average of $16.27. 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 company has a market capitalization of $5.10 billion, a price-to-earnings ratio of -39.80 and a beta of 3.06.

Insiders Place Their Bets

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the sale, the insider now directly owns 171,040 shares in the company, valued at $4,005,756.80. This represents a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kr Sridhar sold 72,903 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total value of $1,824,033.06. Following the transaction, the chief executive officer now directly owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. This represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,528 shares of company stock valued at $3,061,501 over the last quarter. Insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BE. Elemental Capital Partners LLC bought a new stake in shares of Bloom Energy in the 4th quarter valued at $33,612,000. JAT Capital Mgmt LP grew its holdings in shares of Bloom Energy by 50.0% in the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after acquiring an additional 733,363 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in Bloom Energy in the 3rd quarter valued at about $3,762,000. Edgestream Partners L.P. acquired a new stake in Bloom Energy in the 3rd quarter valued at about $3,274,000. Finally, Temasek Holdings Private Ltd acquired a new stake in Bloom Energy in the 3rd quarter valued at about $3,249,000. Institutional investors and hedge funds 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.