Bloom Energy (NYSE:BE) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Bloom Energy (NYSE:BE) had its price objective increased by investment analysts at Morgan Stanley from $28.00 to $35.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 43.68% from the company’s current price.

BE has been the topic of several other reports. BTIG Research raised their price objective on Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. raised their price objective on Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. UBS Group raised their price objective on Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Roth Capital upgraded Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. Finally, Mizuho initiated coverage on Bloom Energy in a research note on Tuesday. They set a “neutral” rating and a $28.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Bloom Energy has an average rating of “Hold” and an average target price of $25.06.

Bloom Energy Price Performance

Shares of BE opened at $24.36 on Thursday. Bloom Energy has a 12-month low of $9.02 and a 12-month high of $29.83. The business’s fifty day moving average is $24.08 and its 200 day moving average is $19.18. 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 stock has a market cap of $5.61 billion, a P/E ratio of -43.50 and a beta of 3.30.

Insider Buying and Selling

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction 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 through this link. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the transaction, the insider now directly owns 178,656 shares of the company’s stock, valued at $4,482,479.04. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. SPX Gestao de Recursos Ltda purchased a new position in Bloom Energy during the 4th quarter valued at about $4,442,000. Duff & Phelps Investment Management Co. purchased a new position in shares of Bloom Energy during the third quarter worth about $517,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Bloom Energy by 184.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company’s stock worth $9,209,000 after purchasing an additional 262,247 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Bloom Energy during the third quarter worth about $3,274,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Bloom Energy by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company’s stock worth $36,737,000 after purchasing an additional 10,265 shares in the last quarter. Hedge funds and other institutional investors 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.