Bloom Energy (NYSE:BE) Price Target Raised to $35.00

Bloom Energy (NYSE:BE) had its target price upped by Morgan Stanley from $28.00 to $35.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms have also weighed in on BE. Bank of America dropped their price objective on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. TD Cowen raised their price target on Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, February 28th. Mizuho initiated coverage on Bloom Energy in a research note on Tuesday, March 18th. They issued a “neutral” rating and a $28.00 price target for the company. UBS Group raised their price target on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler dropped their price target on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $25.06.

Bloom Energy Stock Performance

NYSE:BE opened at $23.90 on Thursday. The firm has a market cap of $5.51 billion, a PE ratio of -42.68 and a beta of 3.30. Bloom Energy has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. 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 business has a 50 day moving average price of $24.10 and a 200-day moving average price of $19.36.

Insider Transactions at Bloom Energy

In other news, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the transaction, the insider now owns 178,656 shares of the company’s stock, valued at $4,482,479.04. The trade was a 0.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the transaction, the insider now directly owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Bloom Energy

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Bloom Energy by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company’s stock worth $427,194,000 after buying an additional 356,317 shares during the last quarter. Norges Bank purchased a new position in Bloom Energy in the 4th quarter worth about $93,951,000. Fuller & Thaler Asset Management Inc. purchased a new position in Bloom Energy in the 4th quarter worth about $61,968,000. JAT Capital Mgmt LP raised its position in Bloom Energy by 50.0% in the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after buying an additional 733,363 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Bloom Energy by 7.3% in the 4th quarter. Legal & General Group Plc now owns 2,133,318 shares of the company’s stock worth $47,381,000 after buying an additional 144,616 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

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.