Bloom Energy (NYSE:BE) Stock Price Expected to Rise, Piper Sandler Analyst Says

Bloom Energy (NYSE:BE) had its price objective hoisted by Piper Sandler from $20.00 to $30.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the company. Susquehanna lifted their target price on Bloom Energy from $13.00 to $16.00 and gave the stock a “positive” rating in a report on Tuesday, November 12th. BTIG Research increased their price target on Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Jefferies Financial Group cut shares of Bloom Energy from a “buy” rating to a “hold” rating and cut their target price for the stock from $15.00 to $11.00 in a research note on Friday, September 6th. Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, HSBC lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 target price on the stock. in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $18.66.

Bloom Energy Stock Up 0.7 %

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

Insider Activity

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the transaction, the insider now directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the sale, the chief executive officer now owns 1,869,593 shares of the company’s stock, valued at approximately $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,975 shares of company stock valued at $3,045,019. 3.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millburn Ridgefield Corp lifted its position in shares of Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after acquiring an additional 528 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Bloom Energy during the 3rd quarter worth about $34,000. ORG Partners LLC purchased a new stake in shares of Bloom Energy during the second quarter worth about $40,000. Quest Partners LLC raised its position in shares of Bloom Energy by 2,780.0% in the second quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after buying an additional 3,475 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in shares of Bloom Energy during the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

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.