JPMorgan Chase & Co. Issues Positive Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its price target hoisted by JPMorgan Chase & Co. from $14.00 to $16.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 46.04% from the company’s current price.

Several other research analysts have also issued reports on BE. Bank of America increased their price target on shares of Bloom Energy from $7.00 to $20.00 and gave the stock an “underperform” rating in a research note on Monday, December 9th. Roth Capital raised shares of Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Piper Sandler increased their price objective on shares of Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley increased their price objective on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.08.

Bloom Energy Stock Up 7.2 %

Shares of Bloom Energy stock opened at $29.65 on Thursday. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The company has a 50-day moving average of $24.77 and a 200 day moving average of $16.16. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of -52.95 and a beta of 3.06. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $29.83.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the sale, the insider now directly owns 168,561 shares of the company’s stock, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $1,824,033.06. Following the sale, the chief executive officer now directly owns 1,869,593 shares in the company, valued at $46,777,216.86. This trade represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,528 shares of company stock worth $3,061,501 in the last quarter. Company insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millburn Ridgefield Corp increased its holdings 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 worth $25,000 after purchasing an additional 528 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Bloom Energy by 26.8% during the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after acquiring an additional 569 shares during the last quarter. Xponance Inc. grew its holdings in shares of Bloom Energy by 7.8% in the second quarter. Xponance Inc. now owns 12,542 shares of the company’s stock valued at $154,000 after purchasing an additional 903 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Bloom Energy by 2.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 47,400 shares of the company’s stock worth $1,053,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC raised its stake in Bloom Energy by 3.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock valued at $374,000 after purchasing an additional 1,349 shares in the last quarter. Institutional investors 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.