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

Bloom Energy (NYSE:BE) had its price target increased by Piper Sandler from $30.00 to $33.00 in a research report sent to investors on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other brokerages also recently issued reports on BE. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. BMO Capital Markets raised their price objective on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research note on Friday, November 15th. Royal Bank of Canada upped their target price on Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Robert W. Baird boosted their price objective on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Finally, Bank of America raised their target price on shares of Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.24.

Bloom Energy Stock Down 25.2 %

Bloom Energy stock opened at $22.29 on Monday. The stock’s 50 day moving average price is $24.76 and its 200 day moving average price is $16.27. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $29.83. The company has a market cap of $5.10 billion, a PE ratio of -39.80 and a beta of 3.06. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Insider Buying and Selling

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the sale, the insider now owns 171,040 shares in the company, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kr Sridhar sold 46,697 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the transaction, the chief executive officer now owns 1,822,496 shares in the company, valued at $45,562,400. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,528 shares of company stock valued at $3,061,501. Insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Millburn Ridgefield Corp boosted its position in 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 buying an additional 528 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Bloom Energy during the 3rd quarter valued at approximately $34,000. Avior Wealth Management LLC acquired a new position in shares of Bloom Energy in the 4th quarter valued at approximately $40,000. GAMMA Investing LLC grew its position in shares of Bloom Energy by 26.8% during the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after buying an additional 569 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of Bloom Energy in the third quarter worth $74,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

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.