Bloom Energy (NYSE:BE) Price Target Raised to $16.00

Bloom Energy (NYSE:BE) had its price target lifted by JPMorgan Chase & Co. from $14.00 to $16.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also recently issued research reports about the stock. Morgan Stanley boosted their target price on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Piper Sandler upped their price objective on shares of Bloom Energy from $20.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Truist Financial lifted their target price on shares of Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, UBS Group lifted 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. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Bloom Energy currently has an average rating of “Hold” and an average target price of $23.08.

Bloom Energy Stock Up 7.2 %

BE stock opened at $29.65 on Thursday. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $29.83. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of -52.95 and a beta of 3.06. The business’s 50 day moving average price is $24.77 and its two-hundred day moving average price is $16.19. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the sale, the insider now directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 72,903 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were 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 owns 1,869,593 shares of the company’s stock, valued at $46,777,216.86. This represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,528 shares of company stock valued at $3,061,501. 8.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Electron Capital Partners LLC grew its holdings in Bloom Energy by 131.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after purchasing an additional 1,790,733 shares during the last quarter. JAT Capital Mgmt LP boosted its position in shares of Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after buying an additional 733,363 shares during the period. DigitalBridge Group Inc. grew its stake in shares of Bloom Energy by 66.3% during the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after buying an additional 462,581 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Bloom Energy in the third quarter worth approximately $3,762,000. Finally, Edgestream Partners L.P. bought a new stake in shares of Bloom Energy during the 3rd quarter worth approximately $3,274,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

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.