Bloom Energy Co. (NYSE:BE) Receives $24.18 Consensus Target Price from Analysts

Bloom Energy Co. (NYSE:BE) has earned a consensus recommendation of “Hold” from the twenty ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $24.18.

BE has been the subject of several research analyst reports. Roth Capital raised shares of Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. Susquehanna upped their price target on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research note on Friday, December 6th. Hsbc Global Res upgraded shares of Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. UBS Group boosted their target price on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley increased their price target on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, November 18th.

Bloom Energy Stock Down 7.2 %

Bloom Energy stock opened at $24.11 on Wednesday. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. Bloom Energy has a one year low of $8.41 and a one year high of $29.83. The company has a 50-day simple moving average of $24.22 and a 200-day simple moving average of $17.72. The firm has a market capitalization of $5.51 billion, a P/E ratio of -43.05 and a beta of 3.06.

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

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

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.