Bloom Energy (NYSE:BE) Hits New 52-Week High Following Analyst Upgrade

Bloom Energy Co. (NYSE:BE)’s stock price hit a new 52-week high during mid-day trading on Friday after BTIG Research raised their price target on the stock from $16.00 to $20.00. BTIG Research currently has a buy rating on the stock. Bloom Energy traded as high as $22.50 and last traded at $18.71, with a volume of 11573566 shares traded. The stock had previously closed at $13.28.

A number of other research analysts have also weighed in on the company. UBS Group reduced their price objective on Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Bank of America reduced their price objective on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a research report on Thursday, November 7th. BMO Capital Markets increased their target price on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research note on Friday. Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, Jefferies Financial Group downgraded Bloom Energy from a “buy” rating to a “hold” rating and dropped their price target for the stock from $15.00 to $11.00 in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Bloom Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.05.

Institutional Investors Weigh In On Bloom Energy

Large investors have recently made changes to their positions in the company. Millburn Ridgefield Corp grew its position in Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after acquiring an additional 528 shares in the last quarter. ORG Partners LLC purchased a new position in Bloom Energy in the second quarter worth about $40,000. Quest Partners LLC grew its position in Bloom Energy by 2,780.0% in the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after acquiring an additional 3,475 shares in the last quarter. Gilliland Jeter Wealth Management LLC purchased a new position in Bloom Energy in the second quarter worth about $53,000. Finally, Mather Group LLC. purchased a new position in Bloom Energy in the second quarter worth about $66,000. 77.04% of the stock is owned by institutional investors.

Bloom Energy Trading Up 59.2 %

The company has a market cap of $4.81 billion, a PE ratio of -37.75 and a beta of 2.71. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 3.33. The company has a 50-day moving average of $10.82 and a 200 day moving average of $12.28.

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.