Analysts Set Bloom Energy Co. (NYSE:BE) Target Price at $22.45

Bloom Energy Co. (NYSE:BE) has been assigned a consensus rating of “Hold” from the twenty-three brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $22.45.

A number of equities research analysts recently weighed in on BE shares. BTIG Research upped their target price on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Hsbc Global Res upgraded shares of Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. UBS Group increased their price objective on shares of Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. Finally, Roth Mkm started coverage on shares of Bloom Energy in a research note on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 price objective for the company.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the business’s 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 owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kr Sridhar sold 46,697 shares of the stock in a transaction that occurred 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 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 122,975 shares of company stock valued at $3,045,019. Company insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

A number of institutional investors have recently added to or reduced their stakes in BE. Millburn Ridgefield Corp raised its holdings in shares of Bloom Energy by 29.2% in the 3rd 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 purchased a new stake in shares of Bloom Energy in the 3rd quarter valued at about $34,000. Quest Partners LLC raised its holdings in shares of Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after acquiring an additional 3,475 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Bloom Energy in the 3rd quarter valued at about $74,000. Finally, Gilliland Jeter Wealth Management LLC raised its holdings in shares of Bloom Energy by 97.7% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 8,500 shares of the company’s stock valued at $90,000 after acquiring an additional 4,200 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors.

Bloom Energy Trading Up 5.2 %

BE opened at $23.37 on Tuesday. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. Bloom Energy has a fifty-two week low of $8.41 and a fifty-two week high of $28.70. The firm has a market capitalization of $5.34 billion, a PE ratio of -41.73 and a beta of 3.04. The company’s 50-day moving average is $20.70 and its 200 day moving average is $14.82.

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.