Bloom Energy (NYSE:BE) Price Target Raised to $22.00 at Jefferies Financial Group

Bloom Energy (NYSE:BE) had its price target upped by Jefferies Financial Group from $12.00 to $22.00 in a research report released on Friday,Benzinga reports. They currently have a hold rating on the stock.

Several other analysts also recently issued reports on BE. Royal Bank of Canada lifted their price target on shares of Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. UBS Group decreased their target price on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. BTIG Research raised their price target on shares of Bloom Energy from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Robert W. Baird decreased their price objective on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, BMO Capital Markets lifted their target price on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Bloom Energy presently has a consensus rating of “Hold” and an average price target of $18.66.

Bloom Energy Price Performance

BE stock opened at $25.94 on Friday. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $26.92. The stock has a market capitalization of $5.93 billion, a PE ratio of -46.00 and a beta of 2.71. The company’s 50-day moving average is $12.22 and its 200-day moving average is $12.72. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the transaction, the insider now directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction 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. The trade was a 3.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,975 shares of company stock valued at $3,045,019 in the last quarter. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Millburn Ridgefield Corp boosted its holdings 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 purchasing an additional 528 shares during the last quarter. Xponance Inc. increased its position in Bloom Energy by 7.8% during the second quarter. Xponance Inc. now owns 12,542 shares of the company’s stock valued at $154,000 after acquiring an additional 903 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in Bloom Energy by 3.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock valued at $374,000 after acquiring an additional 1,349 shares during the period. Arizona State Retirement System boosted its position in Bloom Energy by 2.7% in the second quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock worth $696,000 after purchasing an additional 1,470 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Bloom Energy during the 3rd quarter valued at about $34,000. 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.