Bloom Energy (NYSE:BE) Price Target Cut to $26.00 by Analysts at Susquehanna

Bloom Energy (NYSE:BE) had its target price cut by Susquehanna from $33.00 to $26.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a positive rating on the stock.

A number of other brokerages have also issued reports on BE. Piper Sandler decreased 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. Redburn Atlantic lowered shares of Bloom Energy from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $14.50 to $10.00 in a research note on Wednesday, April 9th. BTIG Research raised their price objective on Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Morgan Stanley lifted their target price on shares of Bloom Energy from $28.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Finally, TD Cowen raised their price target on shares of Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a report on Friday, February 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Bloom Energy has an average rating of “Moderate Buy” and a consensus price target of $23.92.

Bloom Energy Stock Up 1.3 %

BE stock opened at $17.87 on Monday. The firm’s 50-day simple moving average is $22.43 and its 200 day simple moving average is $20.49. The stock has a market cap of $4.12 billion, a PE ratio of -31.91 and a beta of 3.27. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy has a fifty-two week low of $9.02 and a fifty-two week high of $29.83.

Insider Buying and Selling at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were 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 directly owns 171,040 shares of the company’s stock, valued at $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares of the company’s stock, valued at $4,482,479.04. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

A number of large investors have recently made changes to their positions in BE. Mainstream Capital Management LLC acquired a new stake in shares of Bloom Energy during the fourth quarter worth $28,000. Smartleaf Asset Management LLC grew its holdings in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after purchasing an additional 934 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after acquiring an additional 812 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Bloom Energy during the 3rd quarter worth about $34,000. Finally, Quarry LP bought a new position in shares of Bloom Energy during the fourth quarter worth approximately $35,000. 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.