Brokerages Set Bloom Energy Co. (NYSE:BE) Price Target at $24.47

Bloom Energy Co. (NYSE:BE) has received a consensus recommendation of “Hold” from the twenty-one analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $25.06.

Several research firms recently weighed in on BE. Truist Financial lifted their price objective on shares of Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. Robert W. Baird boosted their price target on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Roth Mkm assumed coverage on Bloom Energy in a research note on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price objective on the stock. Finally, TD Cowen boosted their target price on Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, February 28th.

Insider Buying and Selling

In related news, insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the transaction, the insider now directly owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction 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 transaction, the insider now owns 171,040 shares in the company, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Millburn Ridgefield Corp lifted its stake in Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after purchasing an additional 528 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in Bloom Energy in the fourth quarter valued at approximately $28,000. Smartleaf Asset Management LLC lifted its position in shares of Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after buying an additional 934 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after acquiring an additional 812 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Bloom Energy during the 3rd quarter worth approximately $34,000. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Price Performance

Shares of BE opened at $25.46 on Friday. The stock has a market cap of $5.87 billion, a P/E ratio of -45.46 and a beta of 3.30. Bloom Energy has a 1 year low of $9.02 and a 1 year high of $29.83. The stock’s 50-day moving average price is $24.10 and its two-hundred day moving average price is $19.22. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

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.