BTIG Research Issues Positive Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its price target increased by equities research analysts at BTIG Research from $20.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price indicates a potential upside of 21.14% from the stock’s previous close.

Several other analysts have also issued reports on BE. Susquehanna upped their price objective on Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a research note on Friday, December 6th. Truist Financial dropped their price target on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, October 16th. Piper Sandler lifted their price objective on shares of Bloom Energy from $20.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Bank of America increased their price objective on shares of Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a research report on Monday, December 9th. Finally, Jefferies Financial Group lifted their target price on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Bloom Energy currently has an average rating of “Hold” and an average price target of $22.45.

Bloom Energy Stock Down 5.3 %

Shares of BE stock opened at $24.77 on Monday. Bloom Energy has a 52-week low of $8.41 and a 52-week high of $28.70. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of -45.27 and a beta of 3.04. The firm’s 50-day moving average is $17.21 and its 200-day moving average is $14.06. 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 Buying and Selling

In other Bloom Energy news, CEO Kr Sridhar sold 46,697 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the sale, the chief executive officer now directly owns 1,822,496 shares in the company, valued at $45,562,400. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,975 shares of company stock worth $3,045,019. Company insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Raymond James & Associates lifted its stake in Bloom Energy by 10.7% in the 2nd quarter. Raymond James & Associates now owns 424,892 shares of the company’s stock valued at $5,201,000 after purchasing an additional 41,202 shares during the last quarter. Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Bloom Energy during the 2nd quarter valued at $53,000. LRI Investments LLC acquired a new stake in shares of Bloom Energy during the 2nd quarter valued at $490,000. Bank of New York Mellon Corp grew its position in Bloom Energy by 15.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 773,658 shares of the company’s stock worth $9,470,000 after acquiring an additional 101,519 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Bloom Energy by 9.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 402,408 shares of the company’s stock worth $4,925,000 after purchasing an additional 34,739 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors.

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.